NOTE 5. PREPAID EXPENSES

Prepaid expenses consist of the following:

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 required the issuance of 5,333 shares of its common stock valued at $49,600. Stock-based compensation expense related to this agreement for the three-month periods ending March 31, 2022 and 2021 are $8,267 and $4,133, respectively.