Prepaid expenses consist of the following:

During 2020, the Company entered into two consulting agreements for marketing services. The Company has to issue a total of 87,500 of its common shares valued at $142,714 under the terms of the agreements. On February 26, 2021, the Company entered into a new lease agreement for its office facility for a 12 month term beginning March 1, 2021. In addition to monthly base rent of $6,000, the agreement requires the issuance on 16,000 shares of its common stock valued at $49,600. As of March 31, 2021 and December 31, 2020, the share value of $192,314 and $142,714, respectively, is included in common stock subscriptions payable as the shares had not been issued. Stock-based compensation expense for the three month periods ended March 31, 2021 and 2020 includes approximately $19,000 and none, respectively, for these agreements.