Quarterly report pursuant to Section 13 or 15(d)

Stockholders' (Deficit) (Tables)

v3.5.0.2
Stockholders' (Deficit) (Tables)
6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Schedule of option activity and related information

A summary of the Company's option activity and related information follows:

 

   

Number of

Shares

Under Options

   

Range of

Option Price

Per Share

   

Weighted

Average

Exercise Price

 
Options Outstanding at January 1, 2015     6,854,802     $ 0.02 - 0.85     $ 0.26  
Options Granted     250,000       0.35       0.35  
Options Exercised     -       -       -  
Options Expired     (59,339  )     0.02       0.02  
Options Outstanding at June 30, 2016     7,045,463     $ 0.15 - 0.85     $ 0.28  
                         
Options Exercisable at June 30, 2016     5,620,903       0.15 - 0.85     $ 0.27

Schedule of assumptions used for grants

The following weighted-average assumptions were used for grants made under the stock option plans for the six months ended June 30, 2016:

 

Expected volatility     229.13 %
Expected term (years)     10  
Risk free rate     2.22 %
Dividend yield     0 %
Annual forfeiture rate     0 %
Schedule of warrant activity and related information

A summary of the Company's warrant activity and related information follows:

 

   

Number of

Shares

Under Warrants

   

Range of

Warrants Price

Per Share

   

Weighted

Average

Exercise Price

 
Warrants Outstanding at January 1, 2016     133,334     $   0.01     $ 0.01  
Warrants Granted     -       -       -  
Warrants Exercised     -       -       -  
Warrants Cancelled     -       -       -  
Warrants Outstanding at June 30, 2016     133,334       0.01       0.01  
                         
Warrants Exercisable at June 30, 2016     133,334       0.01       0.01