Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Stockholders' Equity (Deficit)

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Note 9 - Stockholders' Equity (Deficit)
3 Months Ended
Mar. 31, 2022
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 14-day closing price), for total non-cash expense of $100,000.  In October 2021, the Company agreed to grant 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 the quarter ended March 31, 2022 the Company expensed $81,249 related to these shares.

 

Stock Payable

In the quarter ended March 31, 2022, STCB recorded $81,249 of stock payable for services provided and related to common stock to be issued.  The following summarizes the stock payable activity during the periods ended  March 31, 2022 and March 31, 2021:

 

   

Amount

   

Shares

 

Ending balance - December 31, 2020

  $ -       -  

Additions, net

    -       -  

Issuances, net

    -       -  

Ending balance – March 31, 2021

  $ -       -  

 

   

Amount

   

Shares

 

Ending balance - December 31, 2021

  $ 654,166       782,736  

Additions, net

    81,249       81,249  

Issuances, net

    -       -  

Ending balance – March 31, 2022

  $ 735,415       863,985