Item 3.02. UNREGISTERED SALES OF EQUITY SECURITIES

On May 25, 2022, FullNet Communications, Inc. (the "Company") agreed to sell 529,004 restricted shares of its common stock, par value $0.00001 per share pursuant to the exercise of previously issued and outstanding common stock purchase options and warrants (the "Options & Warrants") held by various current and former employees of the Company, their family members and others. Proceeds from the exercise of the Options were $3,139. The common shares were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended without payment of any form of commissions or other remuneration.

Immediately following the exercise of the Options, the Company had 18,989,086 shares of common stock outstanding.







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