Annual report pursuant to Section 13 and 15(d)

Note 8 - Stock Warrants

Note 8 - Stock Warrants

12 Months Ended

Dec. 31, 2021

NOTE 8 – STOCK WARRANTS

The total outstanding balance of all stock warrants in the Company is 2,550,000 and 2,000,000 at December 31, 2021 and December 31 2020, respectively. There were 550,000 non-employee detached free-standing stock warrants granted during the year ended December 31, 2021. The fair value of these non-employee stock warrants granted during the year ended December 31, 2021 totaled $12,455, and was determined using the Black-Scholes option pricing model based on the following assumptions:


Exercise price	0.900 -1.0000
Dividend yield	0	%
Volatility	59% - 60	%
Risk-free interest rate	2.0% - 2.1	%
Life of warrants	1 year from vesting

A summary of the status of the Company’s outstanding stock warrants and changes during the years is presented below:

	Shares available to purchase with warrants		Weighted Average Price		Weighted Average Fair Value		Weighted Average Contractual Term (years)		Average Intrinsic Value

Outstanding, December 31, 2019		2,000,000	$	1.05	$	0.003		3.4	$	0.05
Issued		-	$	-	$	-
Exercised		-	$	-	$	-
Cancelled		-	$	-	$	-
Expired		-	$	-	$	-
Outstanding, December 31, 2020		2,000,000	$	1.05	$	0.003		2.4	$	0.75
Issued		550,000	$	0.95	$	0.023
Exercised		-	$	-	$	-
Cancelled		-	$	-	$	-
Expired		-	$	-	$	-
Outstanding, December 31, 2021		2,550,000	$	1.03	$	0.007		1.7	$	-

Exercisable, December 31, 2021		2,087,500	$	1.05	$	0.004		1.3	$	-