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13. Stockholders' Equity

9 Months Ended

Sep. 30, 2021

13. Stockholders' Equity

13. Stockholders’ Equity

Common stock activity in the second quarter of 2020 consists of the following:

·The Company closed a private placement in April 2020. Under the private placement, the Company sold 1,481,481 units at $0.135 per unit for net proceeds of $200,000. Each unit consisted of one share of the Company’s stock and one half of one stock purchase warrant with each whole warrant exercisable for one share of the Company’s stock at $0.18 for 24 months.

Common stock activity in the third quarter of 2020 consists of the following:

·In July 2020, a holder of convertible debt converted $50,000 of debt to 277,778 shares of common stock.

·The Company closed a private placement in August 2020. Under the private placement, the Company sold 9,718,573 units at $0.28 per unit for net proceeds of $2,706,896. Each unit consisted of one share of the Company’s stock and one half of one stock purchase warrant with each whole warrant exercisable for one share of the Company’s stock at $0.40 for 24 months.

·In the third quarter of 2020 warrants were exercised whereby 1,041,667 shares of common stock were issued for net proceeds of $208,334.

Common stock activity in the first quarter of 2021 consists of the following:

·The Company issued 10,000 shares of the Company’s common stock valued at $0.23 per share for services received of $2,300.

·Common shares of 394,737 were issued upon exercise of 625,000 options on a cashless basis. The intrinsic value of these shares was $150,000 on the date of exercise.

Common stock activity in the second quarter of 2021 consists of the following:

·The Company issued 15,000 shares of the Company’s common stock valued at $0.28 per share for services received of $4,200.

·Common shares of 50,000 were issued upon exercise of 100,000 options on a cashless basis. The intrinsic value of these shares was $14,000 on the date of exercise.

·277,778 warrants to purchase shares of the Company’s stock were exercised at $0.18 for $50,000 in cash.

·4,083,333 shares were issued at $0.18 per share in exchange for $735,000 of convertible debt. (Note 16)

13. Stockholders’ Equity (continued)

Common stock activity in the third quarter of 2021 consists of the following:

·555,556 shares were issued at $0.18 per share in exchange for $100,000 of convertible debt. (Note 16)

·The Company issued 643,153 shares of the Company’s common stock for 22% of Buckskin Gold and Silver in August 2021.

Stock Purchase Warrants Outstanding

The activity in stock purchase warrants is as follows:

		Number of Warrants		Exercise Prices
Balance December 31, 2019		12,900,123		$0.18-0.22
Issued		5,600,027		$0.18-0.40
Expired		(10,816,789)		$0.20-0.22
Exercised		(1,708,334)		$0.20
Balance December 31, 2020		5,975,027		$0.18-0.40
Exercised		(277,778)		$0.18
Balance September 30, 2021		5,697,249		$0.18-0.40

These warrants expire as follows:

Shares	Exercise Price	Expiration Date
375,000	$0.18	December 14, 2023
462,963	$0.18	April 21, 2022
4,859,286	$0.40	August 28, 2022
5,697,249