Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
During
the quarter ended March 31, 2022, the Company sold 986 shares of common stock for $5,000 pursuant to the exercise of warrants, and issued
13,801 shares of common stock for services valued at $98,333. The Company relied upon the exemption
from registration contained in Rule 506(b) and Section 4(a)(2) of the Securities Act, and corresponding provisions of state securities
laws, on the basis that (i) offers were made to a limited number of persons, (ii) each offer was made through direct communication with
the offerees by the Company, (iii) each of the offerees, which included an officer and two directors of the Company, had the requisite
sophistication and financial ability to bear risks of investing in the Company’s common stock, (iv) the Company provided disclosure
to the offerees, and (v) there was no general solicitation and no commission or remuneration was paid in connection with the offers.
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
Not
applicable.
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