STOCKHOLDERS’ EQUITY

12 Months Ended

Dec. 31, 2023

NOTE 10 – STOCKHOLDERS’ EQUITY

The Company is authorized to issue an aggregate of 200,000,000 shares of common stock with a par value of $0.0001. The Company is also authorized to issue 10,000,000 shares of “blank check” preferred stock with a par value of $0.0001.

Preferred Stock

The board of directors of the Company has designated, out of the 10,000,000 shares of preferred stock authorized, the following series of preferred stock: 4,000,000 shares of Series A Preferred Stock, 66,667 shares of Series B Preferred Stock, 2,000,000 shares of Series C Preferred Stock, 40,000 shares of Series D Preferred Stock and 10,000 shares of Series E Preferred Stock.

There were 2,000,000 shares of Series C Preferred Stock issued and outstanding as of December 31, 2023 and 2022.

There were 10,000 shares of Series E Preferred Stock authorized and 0 outstanding as of December 31, 2023 and 2022. There are no other series of preferred stock outstanding as of December 31, 2023 and 2022.

Common Stock

During the year ended December 31, 2023, the Company issued the following shares of common stock:

	●	The Company issued 1,273,273 shares of common stock for the exercise of a warrant for proceeds of $30,000;
	●	The Company issued 250,000 shares of common stock under a consulting agreement with a 1 year term. The shares were valued at $14,250, the fair value at the issuance date. Of this amount, $9,487 was recognized during the year ended December 31, 2023.
	●	The Company issued a total of 6,243,000 shares of common stock as commitment fees under borrowing agreements. The Company recognized $382,077 in expenses, the fair value of the common stock on the issuance dates.
	●	The Company issued 137,500 shares of common stock for $10,000 in a private placement.
	●	The Company issued a total of 3,282,219 shares of common stock as to convert a convertible note of $200,000 and accrued interest of $42,228.

During the year ended December 31, 2022, the Company issued the following shares of common stock:

	●	The Company issued 1,004,666 shares of common stock for services for $211,050.
	●	The Company issued 6,636,985 shares of common stock for $243,917 in private placements.
	●	The Company issued a total of 22,749,316 shares of common stock as to convert convertible notes and accrued interest of $1,846,607.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Resonate Blends, Inc. 10-K