STOCK OPTIONS AND WARRANTS (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
Warrant [Member] |
|
Summary of stock option plan and warrants |
|
|
Number
of
Shares |
|
|
Weighted
Average
Exercise
Price Per
Share |
|
|
|
|
|
|
|
|
Outstanding
at December 31, 2015 |
|
|
2,630,000 |
|
|
$ |
0.58 |
|
Issued
|
|
|
- |
|
|
|
- |
|
Exercised
|
|
|
- |
|
|
|
- |
|
Canceled
|
|
|
- |
|
|
|
- |
|
Outstanding
at September 30, 2016 |
|
|
2,630,000 |
|
|
$ |
0.58 |
|
|
Transactions involving stock option plan and warrants |
Warrants
Outstanding |
|
|
Warrants
Exercisable |
|
Exercise
Prices |
|
|
Number
Outstanding |
|
|
Weighted
Average
Remaining
Contractual
Life (Years) |
|
|
Weighted
Average
Exercise
Price |
|
|
Number
Exercisable |
|
|
Weighted
Average
Remaining
Contractual
Life (Years) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.25 |
|
|
|
1,475,000 |
|
|
|
2.15 |
|
|
$ |
0.25 |
|
|
|
1,475,000 |
|
|
|
2.44 |
|
|
1.00 |
|
|
|
1,155,000 |
|
|
|
1.76 |
|
|
|
1.00 |
|
|
|
1,155,000 |
|
|
|
2.01 |
|
$ |
0.58 |
|
|
|
2,630,000 |
|
|
|
2.00 |
|
|
$ |
0.58 |
|
|
|
2,630,000 |
|
|
|
2.25 |
|
|
Stock Options [Member] |
|
Fair value of options |
|
|
September
30,
2016 |
|
Risk-free
interest rate |
|
|
1.13 |
% |
Dividend
yield |
|
|
0 |
% |
Stock
price volatility |
|
|
163.82 |
% |
Expected
life |
|
5.75 years |
|
Weighted
average grant date fair value |
|
$ |
0.019 |
|
|
Summary of stock option plan and warrants |
|
|
Shares |
|
|
Weighted-Average
Exercise
Price
|
|
|
Weighted-Average
Remaining
Contractual
Term
|
|
|
Aggregate
Intrinsic
Value
|
|
Outstanding
at January 1, 2016 |
|
|
14,850,000 |
|
|
$ |
0.09 |
|
|
|
4.4 |
|
|
$ |
- |
|
Grants |
|
|
33,000,000 |
|
|
|
0.2 |
|
|
|
10.0 |
|
|
|
- |
|
Exercised |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Expired |
|
|
- |
|
|
|
|
|
|
|
- |
|
|
|
- |
|
Outstanding
at September 30, 2016 |
|
|
47,850,000 |
|
|
$ |
0.04 |
|
|
|
9.4 |
|
|
$ |
623,700 |
|
Exercisable
at September 30, 2016 |
|
|
18,975,000 |
|
|
$ |
0.08 |
|
|
|
8.1 |
|
|
$ |
77,963 |
|
|
Transactions involving stock option plan and warrants |
Options
Outstanding |
|
|
Options
Exercisable |
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
|
|
Average |
|
|
Exercisable |
|
Exercise |
|
Number
of |
|
|
Remaining
Life |
|
|
Number
of |
|
Price |
|
Options |
|
|
In
Years |
|
|
Options |
|
$ |
0.01-0.025 |
|
|
33,000,000 |
|
|
|
9.75 |
|
|
|
4,125,000 |
|
|
0.0251-0.05 |
|
|
3,500,000 |
|
|
|
8.85 |
|
|
|
3,500,000 |
|
|
0.051
and up |
|
|
11,350,000 |
|
|
|
7.55 |
|
|
|
11,350,000 |
|
|
|
|
|
47,850,000 |
|
|
|
9.15 |
|
|
|
18,975,000 |
|
|
Stock Options [Member] | Extended options [Member] |
|
Fair value of options |
|
|
September
30,
2016 |
|
Risk-free interest
rate |
|
0.083
% to 1.62 |
% |
Dividend
yield |
|
|
0 |
% |
Stock
price volatility |
|
|
163.82 |
% |
Expected
life |
|
3.42 to
9.10 years |
|
|