Quarterly report pursuant to Section 13 or 15(d)

Stockholders' (Deficit) (Tables)

v3.5.0.2
Stockholders' (Deficit) (Tables)
9 Months Ended
Sep. 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     Range of     Weighted  
    Shares     Option Price     Average  
    Under Options     Per Share     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 September 30, 2016     7,045,463     $ 0.15 - 0.85     $ 0.28  
                         
Options Exercisable at September 30, 2016     5,683,447       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 nine months ended September 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 September 30, 2016     133,334       0.01       0.01  
                         
Warrants Exercisable at September 30, 2016     133,334       0.01       0.01