NOTE 7 – WARRANTS |
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| Note 7 Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOTE 7 – WARRANTS | NOTE 7 – WARRANTS
On October 15, 2020, the Company entered into a service agreement with a third party for a term of six months. Per the terms of the agreement the party was granted 40,000 warrants to purchase shares of common stock. The warrant vested on April 15, 2021. The warrants have an exercise price $0.25 and expire in three years. The aggregate fair value of the warrants totaled $180,000 based on the Black Scholes Merton pricing model using the following estimates: stock price of $4.50, exercise price of $0.25, 1.57% risk free rate, 735.46% volatility and expected life of the warrants of 3 years.
A summary of the status of the Company’s outstanding stock warrants and changes during the year is presented below:
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