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Subsequent Events
 3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

Note 11 – Subsequent Events

 

In accordance with ASC 855, Subsequent Events, the Company has evaluated all subsequent events through the date the financial statements were available to be issued. No material subsequent events occurred after March 31, 2021, other than as set out below:

 

As further discussed in Note 8 Equity Incentive Plan below, 1,000,000 stock options issued to directors effective June 24, 2020 vested on April 1, 2021.

 

As further discussed in Note 7 Commitments and Contingencies above, on April 8, 2021, the Company issued 1,000,000 shares of its common stock in settlement of litigation brought by a former employee.

 

On April 30, 2021, the Company entered into an agreement to sublease approximately 6,900 square feet of its office and manufacturing space. The sublease commenced on April 30, 2021 and will continue on a month-to-month basis until either party gives 30-days’ notice. Rent will initially be charged at $5,989 per month, increasing to $11,978 per month effective July 1, 2021. The Sublessor will also be responsible for its prorated share of utilities and other related costs.