Quarterly report pursuant to Section 13 or 15(d)

EQUITY TRANSACTIONS (Tables)

v3.22.1
EQUITY TRANSACTIONS (Tables)
3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
SCHEDULE OF ASSUMPTIONS USED TO CALCULATE FAIR VALUE OF STOCK OPTIONS

Inputs used in the valuation models are as follows:

 

2021 Grants
Option value   $ 0.054     to   $ 0.056  
Risk Free Rate     0.90 %   to     1.37 %
Expected Dividend- yield     -     to     -  
Expected Volatility     173.99 %   to     176.04 %
Expected term (years)     5     to     7  
SUMMARY OF STOCK OPTION ACTIVITY

The following is a summary of stock option activity for the three months ended March 31, 2022 and 2021:

 

    Shares    

Weighted

Average

Exercise

Price

    Weighted Average Remaining Term (Years)
Outstanding at December 31, 2020     410,000     $ 1.39     6.72
Granted     -      

-

    -
Expired/Cancelled    

-

   

-

    -

Outstanding and exercisable at March 31, 2021

    410,000     $ 1.39     6.48
                     

Outstanding at December 31, 2021

    29,635,000       0.09     9.20
Granted     -      -      -
Outstanding at March 31, 2022     29,635,000      $ 0.09      8.96
                     
Exercisable at March 31, 2022     18,218,333      $ 0.10      8.93

SUMMARY OF STOCK OPTION ACTIVITY NON-VESTED

The following is a summary of the Company’s non-vested shares for the three months ended March 31, 2022:

 

    Shares     Weighted
Average Grant
Date Fair Value
 
Non-vested at December 31, 2021     14,250,000     $ 0.06  
Granted     -       -  
Vested     (2,833,333 )     0.05  
Forfeited     -       -  
Non-vested at March 31, 2022     11,416,667     $ 0.07  
SCHEDULE OF ANTI-DILUTIVE SECURITIES OF BASIC AND DILUTED NET LOSS PER SHARE

The Company excluded the following securities from the calculation of basic and diluted net loss per share as the effect would have been antidilutive:

 

    2022     2021  
    For the Three Months Ended March 31,  
    2022     2021  
Warrants to purchase common stock (in the money)     384,693,796       389,486,207  
Series A Preferred Stock convertible to common stock     498,229,804       528,429,575  
Total     882,923,600       917,915,782