Stockholders’ Equity | 8. Stockholders’ Equity Our authorized capital stock consists of 50,000,000 0.0001 5,000,000 0.0001 11,599,830 11,599,830 no In-kind Contribution of Service On September 21, 2020, Mr. Mannine voluntarily agreed to cancel his employment agreement and waive all cash due and any related accruals. During the three and nine months ended September 30, 2021, $ 32,500 97,500 Consulting Agreement 200,000 45,000 0.225 100,000 Preferred Stock Our board of directors, without further stockholder approval, may issue preferred stock in one or more series from time to time and fix or alter the designations, relative rights, priorities, preferences, qualifications, limitations and restrictions of the shares of each series. The rights, preferences, limitations and restrictions of different series of preferred stock may differ with respect to dividend rates, amounts payable on liquidation, voting rights, conversion rights, redemption provisions, sinking fund provisions and other matters. Our board of directors may authorize the issuance of preferred stock, which ranks senior to our common stock for the payment of dividends and the distribution of assets on liquidation. In addition, our board of directors can fix limitations and restrictions, if any, upon the payment of dividends on both classes of our common stock to be effective while any shares of preferred stock are outstanding. Warrants On October 10, 2017, we entered into the Financing Agreement with CRG. In connection with the related equity financing as of December 31, 2017, CRG had earned 368,111 0.225 34,405 0.225 45%; 2.2% 5 During January 2018, as part of the Private Placement more fully described in Note 4, CRG earned an additional 17,655 0.225 $1,670 0.225 45%; 2.51% 5 100,000 0.90 September 30, 2021 100,000 0.225 45%; 2.63% 5 During the three months ended September 30, 2021 and 2020, we have recorded stock-based compensation expense of $ 0 56 and related to the warrants 0 168 As of September 30, 2021 and December 31, 2020, the intrinsic value for warrants outstanding and exercisable is $ 109,943 144,662 The following table summarizes information about the warrants earned and outstanding as of September 30, 2021 and December 31, 2020: Warrants Earned and Outstanding September 30, 2021 December 31, 2020 (unaudited) Weighted Weighted Average Average Exercise Exercise Warrants Price Warrants Price Outstanding, beginning of period 485,766 $ 0.364 485,766 $ 0.364 Granted — — — — Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 485,766 $ 0.364 485,766 $ 0.364 Exercisable, end of period 485,766 $ 0.364 485,766 $ 0.364 As of September 30, 2021 (unaudited) Warrants Outstanding and Exercisable by Range of Exercise Price Warrants Outstanding Warrants Exercisable Remaining Average Weighted Weighted Range of Number Contractual Average Number Average Exercise Price Outstanding Life (In Years) Exercise Price Exercisable Exercise Price $ 0.225 0.90 485,766 1.36 $ 0.364 485,766 $ 0.364 Warrants Outstanding Warrants Exercisable Remaining Average Weighted Weighted Range of Number Contractual Average Number Average Exercise Price Outstanding Life (In Years) Exercise Price Exercisable Exercise Price $ 0.225 0.90 485,766 2.1 $ 0.364 485,766 $ 0.364 |