|3 Months Ended|
Mar. 31, 2022
|Subsequent Events [Abstract]|
NOTE 7 – SUBSEQUENT EVENTS
The Company has evaluated events and transactions subsequent to March 31, 2022, through the date these condensed consolidated financial statements were included in this Quarterly Report on Form 10-Q and filed with the SEC. Other than the below, there are no subsequent events identified that would require disclosure in these condensed consolidated financial statements.
Restricted Stock Grants to Service Providers
On May 5, 2022, the Company’s Board of Directors approved grants of restricted common stock pursuant to agreements with certain consultants and service providers. An aggregate of 429,447 shares of restricted common stock was approved for grant.
Stock Option Grant to Consultant
On May 5, 2022, the Company’s Board of Directors approved a grant to a consultant of 200,000 stock options, which have a 10-year term and will vest, subject to the consultant remaining employed and in good standing, one-third after 12 months from the grant date, with the remainder vesting in equal tranches quarterly thereafter. The options have an exercise price of $1.08 per share, based on the closing price of the Company’s common stock on the May 5, 2022 grant date.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef