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STOCK OPTIONS AND WARRANTS
 9 Months Ended
Sep. 30, 2022
STOCK OPTIONS AND WARRANTS  
STOCK OPTIONS AND WARRANTS

NOTE 15 – STOCK OPTIONS AND WARRANTS

 

As of September 30, 2022, there were 0 options outstanding and exercisable.

 

A summary of the Company’s option activity during the nine months ended September 30, 2022 is presented below:

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance outstanding, January 1, 2022

 

 

37,000

 

 

$1.32

 

 

 

0.01

 

 

$75,850

 

Granted

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Expired

 

 

(37,000 )

 

 

-

 

 

 

-

 

 

 

-

 

Balance outstanding, September 30, 2022

 

 

-

 

 

$-

 

 

 

-

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, September 30, 2022

 

 

-

 

 

$-

 

 

 

-

 

 

$-

 

As of September 30, 2022, there were 10,862,527 warrants outstanding and 10,862,527 warrants exercisable with expiration dates from May 2023 through August 2027.

 

A summary of the Company’s warrant activity during the nine months ended September 30, 2022 is presented below:

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Warrants

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance outstanding, January 1, 2022

 

 

3,698,238

 

 

$2.02

 

 

 

2.03

 

 

$4,992,621

 

Granted

 

 

10,652,460

 

 

 

0.63

 

 

 

-

 

 

 

-

 

Forfeited

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Exercised

 

 

(3,488,171 )

 

 

-

 

 

 

-

 

 

 

-

 

Expired

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balance outstanding, September 30, 2022

 

 

10,862,527

 

 

$0.66

 

 

 

4.84

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, September 30, 2022

 

 

10,862,527

 

 

$0.66

 

 

 

4.84

 

 

$-

 

 

Omnibus Equity Incentive Plan

 

On September 19, 2022 the Company held a Board of Directors meeting, whereas, the Board of Directors had elected to adopt an Omnibus Equity Incentive Plan (the “Plan”), that includes reserving 5,000,000 shares of common stock eligible for issuance under the Plan to be registered on a Form S-8 Registration Statement with the SEC. The Plan is designed to enable the flexibility to grant equity awards to the Company’s officers, employees, non-employee directors and consultants and to ensure that it can continue to grant equity awards to eligible recipients at levels determined to be appropriate by the Board and/or the Compensation Committee. According to the Proxy Statement filed with the SEC on October 20, 2022 the Plan will be subject to final approval by the Company’s stockholders at the Annual Meeting of Stockholders that will be held on December 2, 2022.