EQUITY TRANSACTIONS |
9 Months Ended |
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Sep. 30, 2021 | |
| Equity [Abstract] | |
| EQUITY TRANSACTIONS |
NOTE 14 – EQUITY TRANSACTIONS
2021 Common Stock Transactions
During the nine months ended September 30, 2021, no new equity transactions have occurred.
2020 Common Stock Transactions
During the nine months ended September 30, 2020, the Company issued shares of $ par value common stock to short-term note holders as required under their respective short-term notes valued at approximately $125,400.
During the nine months ended September 30, 2020, the Company issued shares of $ par value common stock to short-term note holders as required under origination agreements for the respective short-term notes, valued at approximately $60,500 in aggregate, and this debt discount is amortized over the life of the agreements as interest expense.
During the nine months ended September 30, 2020, the Company issued shares of $ par value common stock to short-term note holders as required under an extension agreement for the respective short-term note, valued at approximately $20,000.
During the nine months ended September 30, 2020, the Company issued options to purchase shares of $ par value common stock to a short-term note holder of the Company, at $ per share. The options were in connection with a new short-term note, and therefore recorded as debt discount. The Company valued the options using the Black-Sholes model, using a volatility of %, a risk-free rate of %, and an expected term, using the simplified method, of years. The fair value at grant date of $ will be amortized over the vesting period and recorded as interest expense.
During the nine months ended September 30, 2020, the Company issued options to purchase shares of $ par value common stock to a short-term note holder of the Company, at $ per share. The options were in connection with a new short-term note, and therefore recorded as debt discount. The Company valued the options using the Black-Sholes model, using a volatility of %, a risk-free rate of %, and an expected term, using the simplified method, of years. The fair value at grant date of $ will be amortized over the vesting period and recorded as interest expense.
Non-controlling Interest
The non-controlling interest presented in our condensed consolidated financial statements reflects a 46% non-controlling equity interest in PWS and 49% non-controlling equity interest in PelleChar. Net losses attributable to non-controlling interest, as reported on our condensed consolidated statements of operations, represents the net loss of each entity attributable to the non-controlling equity interest. The non-controlling interest is reflected within stockholders’ equity on the condensed consolidated balance sheet.
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