Annual report pursuant to Section 13 and 15(d)

Stockholders??? Deficit

v3.24.1.u1
Stockholders’ Deficit
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stockholders’ Deficit

Note 4 – Stockholders’ Deficit

 

Authorized Capital

 

The Company is authorized to issue 500,000,000 shares of common stock, $0.0001 par value, and 50,000,000 shares of preferred stock, $0.0001 par value.

 

Warrants

 

On October 3, 2019, the Company received $40,000 from The Sammy Farkas Foundation in exchange for a promissory note which bears 12% interest per annum and matured on October 10, 2020, or upon the Company raising $500,000 from outside investors, whichever occurs first. In conjunction with The Sammy Farkas Foundation agreement the Company issued warrants to purchase 40,000 shares of the Company’s common stock at an exercise price of $1.00 per share which expired on October 10, 2022. As of December 31, 2023, there are no warrants outstanding.