STOCKHOLDERS DEFICIT |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| STOCKHOLDERS DEFICIT | |
| STOCKHOLDERS' DEFICIT | NOTE 5 – STOCKHOLDERS’ DEFICIT
Effective February 2, 2026, FINRA approved a reverse stock split of the Company's issued and outstanding shares of common stock on a basis of ten thousand (10,000) old shares for one (1) new share of common stock. Authorized common stock has been increased from 1,000,000 shares to 20,000,000 shares. Authorized preferred stock remains unchanged at 10,000,000 shares. All the shares and costs per share in these financials have been retrospectively adjusted to reflect the reverse stock split.
Preferred Stock
The authorized preferred stock consists of 10,000,000 shares with a par value $0.001 per share. The board of directors has broad discretion in setting the rights, preferences and privileges of one or more series of preferred stock.
On September 3, 2016, the Company issued 51 Series A preferred shares to the Chief Executive Officer. The Series A preferred shares have voting rights, resulting in the Series A stockholder holding in aggregate approximately 51% of the total voting power of all issued and outstanding voting capital of the Company.
Common Stock
The Company has authorized 20,000,000 shares with a par value $0.001 per share.
Three months ended March 31, 2026
During the three months ended March 31, 2026, the Company issued 43,000 shares of common stock for the exercise of 66,445 units of share purchase warrants valued at $35,860
During the three months ended March 31, 2026, the Company issued 525,000 shares of common stock valued at $126,638 to consultants for service rendered.
During the three months ended March 31, 2026, the Company issued 600,000 shares of common stock valued at $150,000 to the Director of the Company for service rendered.
Three months ended March 31, 2025
During the three months ended March 31, 2025, the Company issued 10,000 shares of common stock for the exercise of 15,000 units of share purchase warrants valued at $14,881.
As of March 31, 2026 and December 31, 2025, the issued and outstanding common stock was 1,723,936 shares and 555,936 shares, respectively. |