|12 Months Ended|
Dec. 31, 2021
|Subsequent Events [Abstract]|
In January 2022, pursuant to terms of a consulting agreement, the Company granted warrants to purchase 1,000,000 shares of common stock with an exercise price of $0.04 per share, vesting immediately upon grant and expiring five years from the date of grant.
In February 2022, the Company issued 825,000 shares of its common stock upon the exercise of warrants for proceeds of $35,000 at an exercise price of $0.03 per share.
In January through March 2022, the Company issued 366,666 shares of its common stock upon the conversion of notes for proceeds of $10,000 at a conversion price of $0.03 per share.
In January 2022, the Company received notice that $24,049 of the PPP loan (see Note 5) was forgiven. The PPP loan liability will be reduced by the amount forgiven, and a $24,049 gain on extinguishment will be recorded in January 2022. The balance of the PPP loan after recording the forgiveness will be $127,151.
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