XML 28 R18.htm IDEA: XBRL DOCUMENT v3.22.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through the date these consolidated financial statements were issued and has identified the following:

 

On April 1, 2022, Justin Schreiber, the Company’s CEO, entered into an Employment Agreement (the “Schreiber Employment Agreement”) with the Company. The Schreiber Employment Agreement is for an indefinite term and may be terminated with or without cause. Pursuant to the Schreiber Employment Agreement, Mr. Schreiber will receive an annual base salary of $300,000 and shall be eligible to earn a performance bonus in such amount, if any, as determined in the sole discretion of the Board, with a target amount of 75% of the base salary.

 

On April 25, 2022, the Board approved, subject to stockholder approval, an amendment to the 2020 Plan to increase the maximum number of shares of common stock available for issuance under the 2020 Plan by 1,500,000 shares. The amendment is being presented as Proposal 2 at the Annual Meeting of Stockholders, to be held on June 16, 2022.