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STOCKHOLDERS’ EQUITY (DEFICIT)
 9 Months Ended
Sep. 30, 2025
STOCKHOLDERS' DEFICIT:  
STOCKHOLDERS’ EQUITY (DEFICIT)

NOTE 13 – STOCKHOLDERS’ EQUITY (DEFICIT)

 

Preferred Stock

 

In accordance with the Company’s bylaws, the Company has authorized a total of 2,000,000 shares of preferred stock, par value $0.01 per share, for all classes. As of September 30, 2025 and December 2024 respectively, there were 88,335 and 88,335 total preferred shares issued and outstanding for all classes.

 

Common Stock

 

On October 13, 2025 the Company effected a 1:200 reverse stock split of its issued and outstanding shares of common stock. As a result of the reverse stock split, every 200 shares of the Company’s common stock issued and outstanding immediately prior to the effective time were automatically combined into (1) issued and outstanding share, without any change in the par value of the common stock. No fractional shares were issued in connection with the reverse stock split. Any fractional shares resulting from the reverse stock split were rounded up to the nearest whole share and paid in cash at fair value.

 

All share and per-share amounts, including those related to earnings per share, stock options, and any warrants for all periods presented in these consolidated financial statements have been retroactively adjusted to reflect the reverse stock split. The reverse stock split did not affect the total par value of common stock, additional paid-in capital, accumulated deficit, or total stockholders’ equity as presented in these financial statements.

 

The reverse stock split was implemented primarily to revise the share structure and qualify for OTCQB.

 

In accordance with the Company’s bylaws, the Company has authorized a total of 30,000,000,000 shares of common stock, par value $0.0001 per share. As of September 30, 2025 and December 2024, there were 81,630,799 and 52,759,788 common shares issued, respectively.

 

2024 Transactions

 

On November 6, 2024 the Company entered into an Amendment to the 2023 Equity Financing Agreement with GHS, to which GHS agreed to Purchase $30,000,000 in shares of our Common Stock over the course of 12 months at 92% of the current market price.

 

The below table of puts from January 1, 2025 to September 30, 2025 were made by the Company under the 2024 EFA during 2025: 

                  
Date of Put  Number of Common
Shares Issued		   Total Proceeds, Net
of Discounts (4)		   Effective Price per
Share		  Net Proceeds (4) 
1/3/2025   183,203    23,450   $0.000640   20,783 
1/13/2025   256,077    32,778   $0.000640   29,458 
1/22/2025   395,308    50,619   $0.000640   46,050 
1/30/2025   695,043    55,603   $0.000400   50,686 
2/7/2025   623,989    49,786   $0.000399   45,276 
2/18/2025   657,228    42,063   $0.000320   38,093 
2/27/2025   710,373    34,098   $0.000240   30,686 
3/10/2025   663,499    31,848   $0.000240   28,594 
3/18/2025   1,122,820    53,895   $0.000240   40,098 
3/27/2025   1,019,222    65,230   $0.000320   59,639 
4/4/2025   653,076    41,797   $0.000320   37,846 
4/14/2025   895,072    42,963   $0.000240   38,931 
4/23/2025   906,672    58,027   $0.000320   52,940 
5/1/2025   941,402    46,844   $0.000249   42,540 
5/9/2025   1,126,922    43,274   $0.000192   39,220 
5/21/2025   949,987    30,400   $0.000160   27,247 
5/30/2025   1,127,583    36,083   $0.000160   32,532 
6/10/2025   1,130,458    54,262   $0.000240   49,439 
6/20/2025   932,189    44,025   $0.000236   36,912 
7/2/2025   1,157,986    37,056   $0.000160   70,744 
7/21/2025   1,368,561    43,794   $0.000160   37,733 
8/22/2025   426,994    13,644   $0.000160   11,067 
9/3/2025   536,271    17,204   $0.000160   14,200 
9/12/2025   428,311    13,706   $0.000160   9,939 
9/23/2025   57,036    17,665   $0.001549   13,106 
Total   12,638,518   $980,133      $903,760 

 

The RRA provides that we shall (i) use our best efforts to file with the SEC a Registration Statement within 45 days of the date of the GHS Registration Rights Agreement; and (ii) have the Registration Statement declared effective by the SEC within 30 days after the date the GHS Registration Statement is filed with the SEC, but in no event more than 90 days after the GHS Registration Statement is filed.

 

Stock Options

 

As of September 30, 2025 and 2024, the Company had no outstanding stock options.