Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Subsequent Events

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Note 13 - Subsequent Events
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 13 - SUBSEQUENT EVENTS

 

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued, and other than the below, has determined that no material subsequent events exist.

 

On November 1, 2022, the Company entered into an agreement with Omri Moalem for services to be performed. As consideration therefor, the Company granted Mr. Moalem stock warrants to purchase 100,000 shares of common stock. The warrants vest over a one-year term. The warrants were valued using the Black-Scholes option pricing model under the following assumptions as found in the table below.

 

On November 3, 2022, the Company entered into an agreement with Libertatum, LLC (“Libertatum”) for services to be performed. As consideration therefor, the Company granted Libertatum stock warrants to purchase 5,000,000 shares of common stock. The warrants vest over a three-year term. The warrants were valued using the Black-Scholes option pricing model under the following assumptions as found in the table below.

 

Date

 

Number

of Stock Warrants

   

Stock

Price

   

Strike

Price

   

Expected

Volatility

   

Risk-free

Interest

Rate

   

Dividend

Rate

   

Expected
Term

(in years)

   

Fair

Value

 
11/01/2022     100,000     $ 0.20     $ 0.20       102.86 %     4.27 %     0.00 %     1.0     $ 8,116  

11/03/2022

    5,000,000     $ 0.19     $ 0.19       102.84

%

    4.36

%

    0.00

%

    3.0     $ 618,176