Stockholders’ (Deficit) Equity |
3 Months Ended |
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Mar. 31, 2023 | |
Equity [Abstract] | |
Stockholders’ (Deficit) Equity | Note 9 – Stockholders’ (Deficit) Equity
Shares issued as debt issuance costs
During the year ended December 31, 2022, the Company issued 200,000. This amount was treated as financing costs and recorded as a discount to notes payable. shares of common stock to a lender to cover the financing costs. The shares were valued on the day of issuance at $ per share for a total value of $
Stock issuance for services and stock based compensation
During the three months ended March 31, 2023, the Company issued 65,354, respectively. shares of common stock, to officers, employees and vendors for services valued at $
During the three months ended March 31, 2023 and 2022, the Company also recognized $ of expense relating to the vesting of common stock issued to the Company’s Chairman and CEO.
Stock issued for LFR Acquisition
During the period ended March 31, 2022, the Company issued 271,920 (see Note 4). shares of common stock for the acquisition of LFR with a fair value of $
Stock issued for loan extension
On June 8, 2022, the Company issued 300,000 to one of its note holders per the loan extension agreement (see Note 3). The Company recognized $878,806 loss on extinguishment of the note. shares of common stock valued at $
On July 13, 2022, the Company entered into an amendment of its original promissory convertible note of September 1, 2021 with the note holder. The terms of the original note was amended to increase the principal balance of the note by $70,833; as well as granting warrants and common shares as consideration for a 90-day extension of the note. The common shares were issued to the lender as well as the original common shares that were to be issued upon entering into the original loan agreement dated September 1, 2021. The Company recognized $955,658 loss on extinguishment of the note.
On August 18, 2022, the Company entered into an additional amendment of a previous amendment dated May 31, 2022, of its original promissory convertible note executed on September 3, 2021. Under the terms of the new amendment dated, August 18, 2022, the note is extended until September 30, 2022 and in exchange, the Company agreed to provide the note holder with 423,176 loss on extinguishment of the note and a $1,183,544 gain on extinguishment upon cancellation of the warrants and derivative liabilities associated with the warrants. shares of common stock. In addition, the note holder also agreed to cancel warrants previously issued to the note holder in exchange for an additional shares of Company’s common stock. The Company recognized $
On August 26, 2022, the Company cancelled 1,213,710. The Company recognized a $4,106,707 gain on extinguishment upon cancellation of the warrants and derivative liabilities associated with the warrants that was partially offset by a loss on extinguishment of $77,960. warrants previously issued to a note holder in exchange for the common shares valued at $
Conversion of convertible notes and accrued interest to common stock
On September 19, 2022, the Company, under the terms of the note, issued 148,870 in notes payable plus $1,250 in transaction fees. Upon conversion and settlement of the derivative liability, the Company recognized a $214,655 gain on extinguishment. common shares upon the conversion of $
On September 20, 2022, the Company, under the terms of the note, issued 100,000 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $100,808 gain on extinguishment. common shares upon the conversion of $
On September 29, 2022, the Company, under the terms of the note, issued 388,000 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $341,156 gain on extinguishment. common shares upon the conversion of $
On December 9, 2022, the Company, under the terms of the note, issued 39,744 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $41,435 gain on extinguishment. common shares upon the conversion of $
On December 9, 2022, the Company, under the terms of the note, issued 148,077 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $148,254 gain on extinguishment. common shares upon the conversion of $
On January 13, 2023, the Company, under the terms of the note, issued 130,000 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $155,870 gain on extinguishment. common shares upon the conversion of $
On January 23, 2023, the Company, under the terms of the note, issued 133,000 in notes payable. Upon conversion and settlement of the derivative liability, the Company recognized a $162,808 gain on extinguishment. common shares upon the conversion of $
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