NOTE 13 – SUBSEQUENT EVENTS

On May 24, 2021, the Company entered into a six-month office lease extension commencing on September 1, 2021. The lease extension is for the office where the Company is currently located in Laguna Hills, California. The term of the new lease expires on February 28, 2022 and requires monthly lease payments of approximately $1,200.

Effective June 30, 2021, the Company increased the authorized shares of common stock to 50 billion shares or 33,333,334 shares after the reverse stock split. The Company filed a Certificate of Amendment to the Articles of Incorporation with the Nevada Secretary of State.

Effective June 30, 2021, the Company implemented the 2021 Equity Incentive Plan as approved by the Company’s stockholders.

Effective July 12, 2021, the Company filed a Certificate of Change with the Nevada Secretary of State that authorized a 1-for-1,500 reverse stock split. The reverse resulted in the Company reducing the authorized number of shares of common stock to 33,333,334.

On August 9, 2021, the Company entered into an underwriting agreement with H.C. Wainwright & Co., LLC with respect to a public offering of 2,630,385 shares of common stock, 899,027 prefunded warrants and 3,529,412 accompanying common warrants. The total gross proceeds of the offering before deduction of underwriting discounts, commissions and estimated offering expenses payable by the Company are expected to be $15 million.

In such offering, the Company granted the underwriter an option for a period of 30 days commencing on August 9, 2021 to purchase additional shares of its common stock and/or accompanying warrants. If the underwriter exercises such option in full, the total gross proceeds of the offering before deduction of underwriting discounts, commissions and estimated offering expenses payable by the Company are expected to be $17,249,998.