v3.26.1
STOCKHOLDERS’ DEFICIT
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
STOCKHOLDERS’ DEFICIT

NOTE 8 - STOCKHOLDERS’ DEFICIT

 

Series B Preferred Stock

 

Pursuant to the Company’s Certificate of Incorporation, the Company has authorized 2,000,000 shares of $0.001 par value Preferred Stock. The Company has designated 250,000 of the 2,000,000 shares as Series B Preferred Stock. The Series B Preferred stockholders are entitled to a cumulative stock dividend, up to a maximum of 10% additional common stock upon the conversion after one year. The Series B Preferred Stock may be converted into common shares, at any time, at the option of the holder. The conversion price shall be the greater of $0.01 or 90% of the lowest closing price during the five most recent trading days prior to conversion. The number of common shares to be issued shall be the number of Series B Preferred shares times $10 per share divided by the conversion price.

 

Series C Preferred Stock

 

On July 27, 2022, the Company filed a Certificate of Designation with the State of Delaware authorizing the creation of 750,000 Series C Preferred Stock with the following terms and rights:

 

  A. Designation and Number. A series of the preferred stock, designation the “Series C Preferred Stock,” $0.001 par value, is hereby established. The number of shares of the Series C Preferred Stock shall be Seven Hundred Fifty Thousand (750,000). The rights, preferences, privileges, and restrictions granted to and imposed on the Series C Preferred Stock are as set forth below.
  B. Dividend Provisions. None
  C. Conversion Rights. None
  D. Preemptive Rights. None
  E. Voting Rights. Each share of Series C Preferred Stock shall entitle the holder thereof to cast 5,000 votes on all matters submitted to a vote of the stockholders of the Corporation.

 

 

Common Stock

 

During the three and six months ended June 30, 2025, the Company did not issue any shares.

 

During the three months ended June 30, 2024, the Company did not issue any shares.

 

During the six months ended June 30, 2024, the Company issued 258,655,700 shares of common stock for conversion of $71,362 of convertible notes and $5,437 of accrued interest.

 

Warrant Activity

 

A summary of warrant activity for the six months ended June 30, 2025 is presented below:

 

           Weighted     
       Weighted   Average     
       Average   Remaining   Aggregate 
   Number of   Exercise   Contractual   Intrinsic 
   Warrants   Price ($)   Life (in years)   Value ($) 
Outstanding, December 31, 2024   1,144,083,333    0.001    1.95    - 
Granted   50,000,000    0.001    -    - 
Exercised   -    -    

-

   

-

 
Forfeited/Canceled   (39,500,000)   0.001    

-

   - 
Outstanding, June 30, 2025   1,154,583,333    0.001    2.29    - 
Exercisable, June 30, 2025   1,154,583,333    0.001    2.29    - 

 

As of June 30, 2025, warrants to purchase 39,500,000 shares of common stock expired unexercised and are deemed to have been forfeited.

 

Warrants

 

A summary of warrant activity for the six months ended June 30, 2024 is presented below:

 

   Number of
Warrants		   Exercise
Price ($)		   Contractual Life
(in years)		   Intrinsic
Value ($)		 
Outstanding, December 31, 2023   1,045,226,190    0.003    2.17    - 
Granted   -    -    -    

-

 
Exercised   -    -    

-

    

-

 
Forfeited/Canceled   (31,142,857)   0.001    

-

    

-

 
Outstanding, June 30, 2024   1,014,083,333    0.001    1.34    - 
Exercisable, June 30, 2024   1,014,083,333    0.001    1.34    - 

 

As of June 30, 2025, warrants to purchase 31,142,857 shares of common stock expired unexercised and are deemed to have been forfeited.