Stockholders’ Deficiency |
6 Months Ended |
|---|---|
Jun. 30, 2022 | |
| Equity [Abstract] | |
| Stockholders’ Deficiency | Note 6 – Stockholders’ Deficiency
Preferred Stock Dividends
During the three months ended June 30, 2022 and 2021, the Company accrued additional preferred dividends of $244,971 and $225,873, respectively. During the six months ended June 30, 2022 and 2021, the Company accrued additional preferred dividends of $569,888 and $449,264, respectively.
During the three months ended June 30, 2022, the Company issued shares of common stock at the stated value of $ per share for aggregate value of $597,431, pursuant to the terms of the Series A and C Convertible Preferred Stock Certificate of Designation, in connection with the partial payment of accrued dividends for Series A and C Convertible Preferred Stock.
Series C Convertible Preferred Stock
See Note 5, Notes Payable – Convertible Notes Payable for details associated with conversions of notes payable into shares of Series C Convertible Preferred Stock.
Common Stock
See Note 5, Notes Payable – Convertible Notes Payable for details associated with conversions of accrued interest into shares of common stock.
Stock Warrants
See Note 5, Notes Payable for additional details associated with the issuance of stock warrants.
Stock-Based Compensation
During the three months ended June 30, 2022, the Company recognized stock-based compensation expense of $() related to common stock which has been included within accrued compensation which was included within general and administrative expenses. During the three months ended June 30, 2021, the Company recognized stock-based compensation expense of $ (consisting of $ of expense related to warrants (of which, $ has been included within stockholder’s deficiency and $ has been included within accrued compensation) and $ of expense related to common stock which has been included $ within accrued compensation and $ included within stockholder’s deficiency) which was included within general and administrative expenses.
During the six months ended June 30, 2022, the Company recognized stock-based compensation expense of $ (consisting of $ of expense related to warrants and $() of expense related to common stock which has been included within accrued compensation) which was included within general and administrative expenses. During the six months ended June 30, 2021, the Company recognized stock-based compensation expense of $ (consisting of $ of expense related to warrants (of which, $ has been included within stockholder’s deficiency and $ has been included within accrued compensation), $ of expense related to options which has been included within stockholder’s deficiency and $ of expense related to common stock which has been included $ within accrued compensation and $ included within stockholder’s deficiency) which was included within general and administrative expenses.
There was unrecognized stock-based compensation expense as of June 30, 2022.
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