Annual report pursuant to Section 13 and 15(d)

Warrants

Warrants

12 Months Ended

Dec. 31, 2023

Note 11 - Warrants

The Company utilized a Black-Scholes options pricing model to value warrants at the issuance date. This model requires the input of highly subjective assumptions such as the expected stock price volatility and the expected period until the warrants are exercised. When calculating the value of warrants issued, the Company uses a volatility factor, a risk-free interest rate and the life of the warrant for the exercise period.

No warrants were issued or exercised during the years ended December 31, 2023 and 2022.

The following is a summary of the Company’s warrant activity:

				Weighted			Weighted Average
				Average			Remaining		Aggregate
	Number of			Exercise			Contractual		Intrinsic
	Shares			Price			Life (years)		Value
December 31, 2022		3,285,000		$	0.70			1.37	$	-

Grants		-			-			-		-
Expirations		(735,000	)		(0.70	)		-		-
Exercised		-			-			-		-
December 31, 2023		2,550,000		$	0.70			0.60	$	-

Warrants exercisable at:
December 31, 2023		2,550,000		$	0.70			0.60	$	-

The following table summarizes information about common stock warrants outstanding at December 31, 2023:

Outstanding and Exercisable
Exercise Price		Number Outstanding		Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price

$	0.70		2,550,000		0.60	$	0.70

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References + Details