v3.25.2
Stockholders’ Deficit
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders’ Deficit

Note 6 – Stockholders’ Deficit

 

Common stock

 

In March 2025, the Company entered into a subscription agreement to issue 1,000,000 shares of common stock at $0.14 per share for total cash proceeds of $140,000.

 

Stock Warrants, Stock Options, and the 2017 Equity Incentive Plan:

 

Under the 2017 Equity Incentive Plan, the Company is authorized to grant rights to acquire up to a maximum of 200,000 shares of common stock. The 2017 Plan provides for the grant of (1) both incentive and non-statutory stock options, (2) stock bonuses, (3) rights to purchase restricted stock and (4) stock appreciation rights. As of June 30 2025, the Company had 128,000 shares available for future grants.

 

Stock option activity within the 2017 Equity Incentive Plan and warrant activity outside the plan, for the six months ended June 30, 2025 is as follows:

                
   Stock Options   Stock Warrants 
   Shares   Weighted Average
Exercise Price		   Shares   Weighted Average
Exercise Price		 
Outstanding at December 31, 2024   72,000   $2.00    117,500   $0.50 
Granted   –    –    –    – 
Cancelled   –    –    –    – 
Expired   –    –    (112,500)   0.50 
Exercised   –    –    –    – 
Outstanding at June 30, 2025   72,000   $2.00    5,000   $0.50 
Exercisable at June 30, 2025   72,000   $2.00    5,000   $0.50 

 

As of June 30, 2025, the outstanding stock options have a weighted average remaining term of 2.32 years and have no intrinsic value, and the outstanding stock warrants have a weighted average remaining term of 0.20 years and have no intrinsic value.