XML 88 R17.htm IDEA: XBRL DOCUMENT
v3.21.2

Stockholders’ Equity | 6 Months Ended
--- | ---
Jun. 30, 2021
Equity [Abstract] |
Stockholders’ Equity | Note 11 – Stockholders’ Equity Shares authorized Upon formation, the total number of shares of all classes of stock that the Company is authorized to issue is seventy-five million (75,000,000) shares of common stock, par value $0.001 per share. Common stock As of June 30, 2021 the Company had 40,959,741 shares of common stock issued and outstanding. During the six months ended June 30, 2021, the Company did not issue common stock. Shares to be issued for compensation The Company entered into agreements with third party consultants for financing and management consultation. The Company has incurred consulting service fees not paid in cash amounting to $24,000 for the six months ended June 30, 2021, which the Company intends to issue stock as compensation for services rendered. Expenses incurred but not yet paid in shares as of June 30, 2021 and December 31, 2020 amounted to $122,709 and $98,709, respectively. Stock options On January 4, 2021, each member of the Board was granted 15,000 options to purchase shares at $3.00 per share. On August 6, 2019, each member of the Board was granted 30,000 options to purchase shares at $5.70 per share. As of June 30, 2021, there were 315,000 options granted, 262,500 options vested, 52,500 options unvested, and 315,000 outstanding stock options. For the six months ended June 30, 2021 and 2020, the Company’s stock option compensation expenses amounted to $213,675 and $518,700, respectively. The fair value of the warrants listed above was determined using the Black-Scholes option pricing model with the following assumptions:
Schedule of assumptions |  |  |  |  |  |  |  |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |
Risk-free interest rate |  |  | 0.93% |  |  |  | 1.71% |
Expected life of the options |  |  | 10 years |  |  |  | 10 years |
Expected volatility |  |  | 122.93% |  |  |  | 158.86% |
Expected dividend yield |  |  | 0% |  |  |  | 0% |
The following is a summary of options activity from December 31, 2020 to June 30, 2021:
Schedule of option activity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  | Shares |  |  | Weighted average exercise price |  |  | Weighted Average Remaining Contractual Life |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2020 |  |  | 210,000 |  |  | $ | 9.61 |  |  |  | 9.61 |  |  |  | – |
Granted |  |  | 105,000 |  |  |  | 3.00 |  |  |  | – |  |  |  | – |
Exercised |  |  | – |  |  | $ | – |  |  |  | – |  |  |  | – |
Forfeited or expired |  |  | – |  |  | $ | – |  |  |  | – |  |  |  | – |
Outstanding at June 30, 2021 |  |  | 315,000 |  |  | $ | 4.80 |  |  |  | 8.83 |  |  |  | 336,000 |
Vested as of June 30, 2021 |  |  | 262,500 |  |  | $ | 5.16 |  |  |  | 8.64 |  |  |  | 84,000 |
Exercisable at June 30, 2021 |  |  | 315,000 |  |  | $ | 5.16 |  |  |  | 8.64 |  |  |  | 84,000 |
The exercise price for options outstanding and exercisable at June 30, 2021:
Schedule of options by exercise price |  |  |  |  |  |  |  |  |  |  |  |
Outstanding |  |  | Exercisable |
Number of |  |  |  | Exercise |  |  | Number of |  |  |  | Exercise |
Options |  |  |  | Price |  |  | Options |  |  |  | Price |
30,000 |  |  | $ | 5.70 |  |  | 30,000 |  |  | $ | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
30,000 |  |  |  | 5.70 |  |  | 30,000 |  |  |  | 5.70 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
15,000 |  |  |  | 3.00 |  |  | 15,000 |  |  |  | 3.00 |
315,000 |  |  |  |  |  |  | 315,000 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration