Annual report pursuant to Section 13 and 15(d)

Note 9 - Stockholders' Equity (Deficit)

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Note 9 - Stockholders' Equity (Deficit)
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 9 – STOCKHOLDERS’ EQUITY (DEFICIT)

 

On July 23, 2020, the Company granted 49,751 shares of common stock for services. The shares were valued at $2.01, (the average fourteen closing day price), for total non-cash expense of $100,000.  In October 2021, the Company granted 650,000 shares of common stock for services of advisory board members. The shares vest over a 24 month period and were valued at $1.00 each, consistent with the price of shares issued in the Reg A offering, for a total non-cash expense of $650,000 to be recognized consistent with the shares' vesting schedule.  During 2021 the company expensed $54,166 related to these shares.

 

Stock Payable

At October 22, 2021, the Company recorded $600,000 of stock subscription payable related to common stock to be issued. At December 31, 2021, STCB recorded $54,166 of stock payable for services provided and related to common stock to be issued.  The following summarizes the activity of stock payable during the year ended  December 31, 2021:

 

   

Amount

    

Shares

  

Ending balance - December 31, 2020

   $ -       -  

Additions, net

     654,166       782,736  

Issuances, net

     -       -  

Ending balance - December 31, 2021

   $ 654,166       782,736