v3.23.2
Stockholders' Equity
6 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ EQUITY

NOTE 6—STOCKHOLDERS’ EQUITY

 

Common Stock

 

As of June 30, 2023, the Company was authorized to issue 100,000,000 common shares. As of June 30, 2023 and December 31, 2022, the Company had 85,214,086 common shares issued and outstanding.

 

Restricted Stock Awards

 

Below is a table summarizing the changes in restricted stock awards outstanding during the six months ended June 30, 2023:

 

    Restricted Stock Awards     Weighted-
Average
Exercise Price
 
Outstanding at December 31, 2022     450,000     $ 0.11  
Granted     -       -  
Vested     -       -  
Forfeited     -       -  
Outstanding at June 30, 2023     450,000     $ 0.11  

 

Stock-based compensation expense of $6,875 and $906 was recorded during the three months ended June 30, 2023 and 2022, respectively. Stock-based compensation expense of $13,750 was recorded during the six months ended June 30, 2023 and 2022, respectively.

 

As of June 30, 2023, the remaining unrecognized stock-based compensation expense related to non-vested restricted stock awards is $41,250 and is expected to be recognized over 1.5 years.