Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

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STOCKHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 6: STOCKHOLDERS’ EQUITY


Common Stock


During April 2020, the Company issued 1,250,000 shares of common stock for the conversion of $100,000 in principal of a convertible note payable due to a related party.


Between May and June 2020, the Company issued a total of 13,827,885 shares of common stock for the conversion of $342,000 in principal and $37,881 in accrued interest on six convertible notes payable.


During January 2020, in conjunction with the issuance of a convertible note payable to a related party, the Company recognized a $4,150 debt discount to additional paid-in capital.


Common Stock Warrants


There were no common stock warrants issued during the six months ended June 30, 2020 or the year ended December 31, 2019. The following table presents the common stock warrant activity during the six months ended June 30, 2020:


           

Weighted

   

Weighted

 
           

Average

   

Average

 
   

Warrants

   

Exercise Price

   

Remaining Term

 

Outstanding - December 31, 2019

    2,852,329     $ 0.11       1.25  

Granted

    -       -       -  

Forfeited/expired

    -       -       -  

Exercised

    -       -       -  

Outstanding – June 30, 2020

    2,852,329     $ 0.11       0.75  
                         

Exercisable – June 30, 2020

    2,852,329     $ 0.11       0.75  

The intrinsic value of the exercisable warrants as of June 30, 2020 was $0.