Stockholders Deficit | 10. Stockholders Deficit Our authorized capital stock consists of 50,000,000 0.0001 5,000,000 0.0001 11,599,830 11,599,830 no Contributed Capital On September 21, 2020, Mr. Mannine voluntarily agreed to cancel his employment agreement and waive all cash due and any related accruals. The salary forgiven for the year ended December 31, 2021 and 2020 of 130,000 116,443 treated as in-kind contribution of service and reflected as contributed capital in the financial statements (See notes 4 and 8). During the year ended December 31, 2020, Mr. Mannine personally paid $ 3,040 Consulting Agreement On February 12, 2020, we entered a consulting agreement with Primoris Group Inc (“Primoris”). Primoris was issued 200,000 common shares at a fair value of $ 45,000 ($ 0.225 per share) on June 30, 2020. 100,000 shares are restricted from resale or transfer by Primoris per the consulting agreement until February 12, 2021. The consultant has an option to register 100,000 on any future registration statement. In addition to any restrictions imposed by the agreement, all the shares require an exemption for resale to the public. The agreement was not renewed upon expiration date. 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 O Oct o e 1 0 2017 w entere h F n n i t C G a mor full esc ibe i Not 4 and 8 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 On March 8, 2018, we entered into an advisory agreement with a scientific advisor to provide certain services to us. Pursuant to the agreement, we issued 100,000 0.90 100,000 100,000 1,905 0.225 45 2.63 5 During the years ended December 31, 2021 and 2020, we have recorded stock-based compensation expense of $ 0 224 As of December 31, 2021 and December 31, 2020, the intrinsic value for warrants outstanding and exercisable is $ 28,932 144,662 The following table summarizes information about the warrants outstanding and exercisable as of December 31, 2021 and 2020: Warrants outstanding and exercisable 2021 2020 Warrants Weighted Average Exercise Price Warrants Weighted Average Exercise Price Outstanding, beginning of year 485,766 $ 0.364 485,766 $ 0.364 Granted — — — — Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of year 485,766 $ 0.364 485,766 $ 0.364 Exercisable, end of year 485,766 $ 0.364 485,766 $ 0.364 As of December 31, 2021 Warrants outstanding and exercisable by range of exercise price Warrants Outstanding Warrants Exercisable Range of Exercise Price Number Outstanding Remaining Average Contractual Life (In Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.225 0.90 485,766 1.10 $ 0.364 485,766 $ 0.364 As of December 31, 2020 Warrants Outstanding Warrants Exercisable Range of Exercise Price Number Outstanding Remaining Average Contractual Life (In Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.225 0.90 485,766 2.10 $ 0.364 485,766 $ 0.364 |