Quarterly report pursuant to Section 13 or 15(d)

Stockholder???s Equity (Tables)

v3.23.1
Stockholder’s Equity (Tables)
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Schedule of Warrant Valuation Assumption

The Company utilizes the Black-Scholes model to value its warrants. The Company utilized the following assumptions:

 

    Three Months Ended  
    March 31,  
    2023  
Expected term     5 years  
Expected average volatility     182 %
Expected dividend yield     -  
Risk-free interest rate     3.96 %
Schedule of Activity of Warrants

A summary of activity of the warrants during the three months ended March 31, 2023 as follows:

 

    Number of     Weighted Average     Average  
    warrants     Exercise Price     Life (years)  
Outstanding, December 31, 2022     -     $ -       -  
Granted     14,610,000       0.30       5.00  
Granted     690,000       0.375       5.00  
Expired     -       -       -  
Exercised     (14,610,000 )     0.30       5.00  
Outstanding, March 31, 2023     690,000     $ 0.375       4.84