Annual report pursuant to Section 13 and 15(d)

Common Stock Warrants (Tables)

v3.22.1
Common Stock Warrants (Tables)
12 Months Ended
Dec. 31, 2021
Common Stock Warrants  
Schedule of Warrants to Purchase Common Stock Outstanding

The following is a summary of information about our warrants to purchase common stock outstanding at December 31, 2021.

 

    Shares Underlying
Shares Underlying Warrants Outstanding   Warrants Exercisable
                   
        Weighted            
    Shares   Average   Weighted   Shares   Weighted
Range of   Underlying   Remaining   Average   Underlying   Average
Exercise   Warrants   Contractual   Exercise   Warrants   Exercise
Prices   Outstanding   Life   Price   Exercisable   Price
                     
$0.25-$0.50   11,011,650   3.31 years   $0.25-$0.50   11,011,650   $0.25-$0.50
Schedule of Fair value Assumption of Warrants

The fair value of each warrant grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan:

 

    December 31,     December 31,  
    2021     2020  
             
Average risk-free interest rates     0.47 %     0.30 %
Average expected life (in years)     3.00       5.00  
Volatility     197 %     305 %
Schedule of Warrants Activity

The following is a summary of activity of outstanding common stock warrants:

 

          Weighted  
          Average  
    Number     Exercise  
    of Shares     Prices  
Balance, December 31, 2019     -     $ -  
Warrants granted     7,511,650       0.25  
Balance, December 31, 2020     7,511,650       0.25  
Warrants granted     3,500,000       0.39  
Balance, December 31, 2021     11,011,650     $ 0.30  
                 
Exercisable, December 31, 2021     11,011,650     $ 0.30