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Temporary Equity (Tables)

3 Months Ended

Mar. 31, 2022

Temporary Equity

Schedule of temporary equity

Schedule of temporary equity
		Convertible Preferred Stock
		Series B								Series B-1								Series C-1
		Shares				Amount				Shares				Amount				Shares				Amount
December 31, 2020			216,916			$	1,301,500				467,728			$	3,507,981				255,289			$	4,550,977
Series C-1 Issue for a reduction in stock payables			–				–				–				–				5,414				64,950
Conversion of Series B and B-1 Preferred Stock to Common Stock			(3,333	)			(20,000	)			(8,302	)			(62,265	)			–				–
March 31, 2021			213,583			$	1,281,500				459,426			$	3,445,716				260,703			$	4,615,927

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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