STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2024

NOTE 5 - STOCKHOLDERS’ EQUITY

Common Stock

Each common stock entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.

During the year ended December 31,2023, the Company issued 412,513,972 shares of common stock as follows:

	●	172,230,769 Shares of common stock for the private placements at $0.001, $0.000375, $0.0065 per share for cash of $524,769
	●	100,000,000 Shares of common stock for consulting services valued at $20,000.
	●	31,250,000 shares of common stock for a convertible note of $312,500.
	●	109,033,203 shares of common stock for default interest

During the Three Months ended March 31, 2024, the Company issued 100,000,000 shares of common stock as follows:

●

100,000,000 Shares of common stock for consulting services valued at $80,000.

Shares to be Issued

During the year ended December 31, 2023, the Company received $401,000 in cash proceeds, in connection with private placement offerings that took place in August and November 2022.

As of March 31, 2024, the Company had $531,000 shares to be issued, in connection with private placement offerings that took place in August and November 2022.

Additional paid in capital

Stock Options

During the three months ended March 31, 2024, a total of 170 million shares of stock options were vested.

	●	Consultant Aaron Serruya: 10 million shares of stock options, at a price of $9,030.
	●	Consultant Kevin Elder: 100 million shares of stock options, at a price of $81,408.
	●	Consultant Gordon Kats: 10 million shares of stock options, at a price of $7,703.
	●	Consultant Summer Schnog: 50 million shares of stock options, at a price of $17,063.

SCHEDULE OF STOCK OPTION

	Options Outstanding				Weighted Average
	Number of		Weighted Average		Remaining life
	Options		Exercise Price		(years)

Outstanding, December 31, 2023		1,024,000	$	0.012		7.09
Granted		-		-		-
Exercised		-		-		-
Forfeited / Canceled		-		-		-
Outstanding, March 31, 2024		1,024,000	$	0.012		6.84
Exercisable options, March 31, 2024		1,024,000	$	0.012		6.84

Valuation

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

The following is a summary of stock option activity during the three months ended March 31, 2024.

SCHEDULE OF STOCK OPTION ASSUMPTIONS

	Three Months Ended		Year Ended
	March 31, 2024		December 31, 2023
Expected term	2.66 – 5.50 years		2.66 – 5.50 years
Expected average volatility	180 – 203	%	180 – 203	%
Expected dividend yield	-		-
Risk-free interest rate	0.67 – 4.02	%	0.67 – 3.79	%

Warrants

As part of the February 16, 2022 private placement, the Company granted warrants, which provides the option to purchase one common share for each common share purchased. The warrants issued have an exercise price of $0.01 per warrant and expire five years from the date of grant. A total of 104,600,000 warrants were granted.

As part of the August 12, 2022 private placement, the Company granted warrants, which provides the option to purchase one common share for each common share purchased. The warrants issued have an exercise price of $0.013 per warrant and expire five years from the date of grant. A total of 11,846,154 warrants were granted.

There was no warrant activity during the month ended March 31, 2024.

SCHEDULE OF WARRANT ASSUMPTION

	Three Months Ended
	March 31, 2024
Term		3.03 - 7.34 years
Expected average volatility		186% - 203	%
Expected dividend yield		0	%
Risk-free interest rate		2.01% - 4.51	%

The following is a summary of warrant activity during the three months ended March 31, 2024:

SCHEDULE OF WARRANT ACTIVITY

	Warrants Outstanding				Weighted Average
	Number of		Weighted Average		Remaining Life
	Warrants		Exercise Price		(years)
Outstanding, December 31, 2023		761,003,846	$	0.007		4.19
Granted		-		-		-
Exercised		-		-		-
Forfeited / Canceled		-		-		-
Outstanding, March 31, 2024		761,003,846	$	0.007		3.94

The intrinsic value of the warrants outstanding as of March 31, 2024, is $0.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Indoor Harvest Corp 10-Q