WARRANTS | NOTE 10 - WARRANTS On January 6, 2021, the Company issued 35,000,000 warrants to Granite Global Investments Ltd in conjunction with convertible debt. The warrants are exercisable for 5 years at $.006 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $24,440, accounted for in additional paid in capital. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs: Warrants 35,000,000 Share price $ 0.0033 Exercise Price $ 0.006 Term 5 years Volatility 353 % Risk Free Interest Rate .43 % Dividend rate - On January 30, 2021, the Company issued 120,000,000 warrants to Granite Global Investments Ltd in conjunction with convertible debt. The warrants are exercisable for 5 years at $.0003 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $33,652, accounted for in additional paid in capital. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs: Warrants 120,000,000 Share price $ 0.0043 Exercise Price $ 0.0003 Term 5 years Volatility 352 % Risk Free Interest Rate 0.45 % Dividend rate - On April 7, 2021, the Company issued 36,500,000 warrants to Granite Global Investments Ltd in conjunction with convertible debt. The warrants are exercisable for 5 years at $.006 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $34,505, accounted for in additional paid in capital. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs: Warrants 36,500,000 Share price $ 0.0173 Exercise Price $ 0.006 Term 5 years Volatility 319 % Risk Free Interest Rate 0.45 % Dividend rate - On April 9, 2021, the Company issued 10,000,000 warrants to Granite Global Investments Ltd in conjunction with convertible debt. The warrants are exercisable for 5 years at $.012 per share. The warrants were evaluated for purposes of classification between liability and equity. The warrants do not contain features that would require a liability classification and are therefore considered equity. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $72,217, accounted for in additional paid in capital. The Black Scholes pricing model was used to estimate the fair value of the Warrants issued with the following inputs: Warrants 10,000,000 Share price $ 0.026 Exercise Price $ 0.012 Term 5 years Volatility 319 % Risk Free Interest Rate 0.87 % Dividend rate - A summary of the status of the Company’s outstanding stock warrants and changes during the year is presented below: Number of Weighted Weighted Aggregate Outstanding at December 31, 2019 3,000,000 $ 0.07 2.59 $ - Granted 63,236,369 $ 0.00385 2.56 $ - Expired - $ - - $ - Exercised (50,262,343 ) $ 0.00385 - $ - Exercisable at December 31, 2020 15,974,026 $ 0.00385 2.06 $ - Granted 201,500,000 $ 0.0029 4.62 $ - Expired - $ - - $ - Exercised 15,974,026 $ - - $ - Exercisable at September 30, 2021 201,500,000 $ 0.0029 4.62 $ 3,848,650 Range of Exercise Number Outstanding Weighted Average Remaining Weighted Average $ 0.0003 - $0.012 201,500,000 4.37 years $ 0.0029 The aggregate intrinsic value represents the total pretax intrinsic value, based on warrants with an exercise price less than the Company’s stock price as of September 30, 2021, which would have been received by the warrant holder had the warrant holder exercised their warrants as of that date. |