v3.20.2
Capital Stock
 6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Capital Stock

6.       Capital Stock

 

a)Authorized capital stock

 

i.Common Stock

 

10,000,000,000 shares of common stock with a par value of $0.001 per share.

 

ii.Preferred Stock

 

500,000,000 shares of preferred stock with a par value of $0.001 per share.

 

b)       Issued capital stock

 

During the period ended June 30, 2020:

 

On March 11, 2020, the Company issued 2,000,000 restricted shares of common stock at a price of $0.04 per share for a purchase price of $80,000 in exchange for the retirement of $60,000 of accounts payable and $20,000 for the provision of services.

 

During the year ended December 31, 2019:

 

On June 19, 2019, the Company issued 26,000,000 shares of common stock to two individuals for the exercise of stock options as follows:

 

·25,000,000 shares at an exercise price of $0.002 per share for a purchase price of $50,000. As consideration, the Company retired accrued interest owing to the Chairman on his line of credit totaling $50,000; and
·1,000,000 shares at an exercise price of $0.015 per share for a purchase price of $15,000. As consideration, the Company retired accounts payable totaling $15,000.