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Stockholders' Equity
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Stockholders' Equity

Note 9 - Stockholders’ Equity

 

Equity Transactions During the Period

 

During the six months ended June 30, 2020, the Company issued an aggregate of 350,000 shares of common stock with a fair value of $0.40 per share to investors for cash proceeds of $140,000.

 

On May 25, 2020, the Company issued 3,392,271 shares of common stock with a fair value of $0.40 per share pursuant to the Techville Acquisition (See Note 3).

 

Stock Payable

 

On January 16, 2020, the Company entered into a consulting agreement, with Eskenzi PR Limited (“Eskenzi”). As per the agreement, Eskenzi will provide various marketing and public relations services to the Company. The initial term of the agreement was for twelve months and automatically renews for an additional twelve months unless either the Company or Eskenzi provides written notice of termination in advance of at least three months.

 

Upon execution of the agreement the Company was to issue 120,000 shares of the Company’s restricted common stock, valued at $48,000 to Eskenzi. As of June 30, 2020, these shares had yet to be issued. As such, the Company recorded a stock payable in the amount of $22,000 representing the fair value of services performed during the six months ended June 30, 2020.

 

See Note 10 for disclosure of additional equity related transactions.