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Capital Structure
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Capital Structure

Note 9 - Capital Structure

 

Preferred Stock – The Company has 10,000,000 shares, $0.0001 par value of Preferred Stock authorized of which none are issued

 

Common Stock – The Company has 100,000,000 shares of Common Stock, par value $0.0001 authorized. At March 31, 2025 and December 31, 2024, the Company had 17,243,610 and 15,956,977 shares, respectively, of its common stock issued and outstanding

 

At December 31, 2024, the Company had 15,956,977 shares of its common stock issued and outstanding. Shares issued during 2024 consisted of the following:

 

The Company issued 200,000 shares of the Common Stock Payable at December 31, 2023.

 

The Company entered into Consulting Agreements (the “Agreements”) with four consultants under the terms of which the Company issued 1,200,000 shares of its common stock valued at $1,261,000. The shares were valued at the market rate of the Company’s stock on the date of the Agreements.

 

The Company issued 1,500,000 shares of its common stock in connection with the Asset purchase described above. The shares were valued at $1,143,000 which was the market rate of the Company’s stock on the date of the Agreement.

 

The Company issued a total of 3,291,477 shares of its common stock in connection with the Company’s Form S-3 Registration Statement (the “Registration”). The shares were issued at a negotiated price which generated net proceeds to the Company of $2,501,255.

 

At March 31, 2025, the Company had 17,243,610 shares of its common stock issued and outstanding. Shares issued during the three months ended March 31, 2025 consisted of the following:

 

The Company issued 712,133 shares of its common stock valued at $452,748 upon conversion of 712,133 pre-funded warrants which were included in Common Stock Payable at December 31, 2024.

 

The Company issued 25,000 shares of its common stock valued at $16,250 (market price at date of the agreement) in connection with a Consulting Agreement which was included in Common Stock Payable at December 31, 2024.

 

The Company issued 500,000 shares of its common stock in connection with a Stock Purchase Agreement with Gameverse, Interactive Corp, 1000 S. Pine Island Suite 210 (“Gameverse”), valued at $190,500 (SRM market price at date of purchase) under which the Company received 132,000 share of common stock of Gameverse.

 

The Company entered into a Consulting Agreement (the “Agreements”) under the terms of which the Company issued 50,000 shares of its common stock valued at $28,145. The shares were valued at the market rate of the Company’s stock on the date of the Agreement.

 

Common Stock Payable

 

At December 31, 2023, the Company had $676,000 of Common Stock Payable.

 

During the year ended December 31, 2024, the Company issued 200,000 shares of the Common Stock Payable valued at $354,000.

 

In connection with the sale of 1,580,000 shares of its common stock under the Registration as described above, the purchaser pre-funded the purchase of 712,133 warrants convertible into common stock shares valued at $452,748 which is included in Common Stock Payable.

 

Additionally, the Company entered into a Consulting Agreement that called for the issuance of 25,000 shares valued at $16,250 (calculated using the market rate per share on date of the Agreement) which shares had not been issued at December 31, 2024.

 

The balance of Common Stock Payable at December 31, 2024 was $790,998.

 

During the three months ended March 31, 2025, the Holder of the pre-funded warrants described above, converted the warrants into shares of the Company’s common stock valued at $452,748.

 

Additionally, the 25,000 shares under the Consulting Agreement were issued which were valued at $16,250. At March 31, 2025 there was a balance of $322,000 in Common Stock Payable.