Annual report pursuant to Section 13 and 15(d)

Equity Transactions (Tables)

v3.3.1.900
Equity Transactions (Tables)
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of Option Activity

A summary of option activity for the years ended December 31, 2014 and 2015 are presented below.

 

                Weighted-        
          Weighted-     Average        
          Average     Remaining     Aggregate  
          Exercise     Contractual     Intrinsic  
    Options     Price     Life (Years)     Value  
                         
Outstanding at December 31, 2013     -     $ -       -     $ -  
Granted     8,150,000       0.50               -  
Forfeited     (1,680,000 )                     -  
Exercised     -                       -  
Outstanding at December 31, 2014     6,470,000     $ 0.50       4.87     $ -  
Granted     3,350,000       1.12                  
Forfeited     (2,163,750 )     0.91                  
Exercised     -       -                  
Outstanding at December 31, 2015     7,656,250     $ 0.66       4.03     $ -  
                                 
Vested and expected to vest at December 31, 2015     5,206,250     $ 0.66       4.03     $ -  
                                 
Exercisable at December 31, 2015     3,554,792     $ 0.57       3.95     $ -  

Schedule of Stock Options Outstanding and Exercisable

 

The following table summarizes information about stock options outstanding and exercisable at December 31, 2015.

 

      Options Outstanding     Options Exercisable  
            Weighted     Weighted           Weighted  
            Average     Average           Average  
Exercise     Number     Remaining     Exercise     Number     Exercise  
Price     of Shares     Life (Years)     Price     of Shares     Price  
                                 
$ 0.50       6,156,250       3.90     $ 0.50       3,254,792     $ 0.50  
  1.30       1,500,000       4.56       1.30       300,000       1.30  
          7,656,250                       3,554,792          

Schedule of Unvested Stock Options

The following is a summary of the changes in the Company’s unvested stock options during the years ended December 31, 2015 and 2014. 

 

          Weighted  
          Average  
    Number of     Grant Date  
    Stock Options     Fair Value  
Unvested options at December 31, 2013     -     $ -  
Granted     8,150,000       0.33  
Forfeited     (1,680,000 )     0.33  
Vested     (1,925,000 )     0.33  
Unvested options at December 31, 2014     4,545,000     $ 0.33  
Granted     3,350,000       0.15  
Forfeited     (2,163,750 )     0.24  
Vested     (1,629,792 )     0.28  
Unvested options at December 31, 2015     4,101,458     $ 0.27