NOTE 8: STOCKHOLDERS' DEFICIT |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| NOTE 8: STOCKHOLDERS' DEFICIT | NOTE 8: STOCKHOLDERS’ DEFICIT
Common Stock
The Company is authorized to issue 500,000,000 shares of common stock, $0.001 par value per share. As of March 31, 2026 and December 31, 2025, 8,946,357 and 8,581,357 shares of common stock were issued and outstanding, respectively.
During the three months ended March 31, 2026, the Company issued an aggregate of 365,000 shares of common stock for services and settlement at an aggregate fair value of $409,800, based on the closing market price of the Company’s common stock on the respective issuance dates. The fair value was recorded as stock-based compensation and settlement expense within general and administrative expenses.
Preferred Stock
The Company is authorized to issue 2,000,000 shares of preferred stock with a par value of $0.001 per share, of which 500 have been authorized as Series A Preferred Stock and 3,000 have been authorized as Series B Preferred Stock. As of March 31, 2026 and December 31, 2025, 500 shares of Series A Preferred Stock and 3,000 shares of Series B Preferred Stock were issued and outstanding.
For the three months ended March 31, 2026 and 2025, the Company incurred $105,000 and $60,000, respectively, of interest from the outstanding preferred stock.
Warrants
Details of warrants outstanding as of March 31, 2026 as follows:
As of March 31, 2026, all outstanding warrants were fully vested and there was no remaining unrecorded compensation expense. |