Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

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STOCKHOLDERS' EQUITY
9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 6: STOCKHOLDERS EQUITY

 

Common Stock

 

During the nine months ended September 30, 2021, the Company issued a total of 81,710,894 shares of its common stock to holders of convertible notes payable for principal totaling $441,642, accrued interest totaling $11,733 and conversion fees of $600.

 

During March 2021, an officer and director of the Company agreed to return and retire 4,516,310 shares of common stock previously issued for common stock compensation.

 

Common Stock Warrants

 

There were no warrants issued during the nine months ended September 30, 2021 and the year ended December 31, 2020. The following table presents the stock warrant activity during the nine months ended September 30, 2021:

 

                   

Weighted

 
           

Weighted

   

Average

 
   

Warrants

   

Average

Exercise Price

   

Remaining

Term

 

Outstanding - December 31, 2020

    491,872     $ 0.14       0.43  

Granted

    -       -       -  

Forfeited/expired

    (424,532

)

    0.15       -  

Exercised

    -       -       -  

Outstanding September 30, 2021

    67,340     $ 0.15       0.72  

Exercisable – September 30, 2021

    67,340     $ 0.15       0.72  

 

The intrinsic value of the exercisable warrants as of September 30, 2021 was $0.