| Schedule of Option Activity |
A summary of option activity
for the three months ended March 31, 2017 is presented below.
| |
|
Shares |
|
|
Weighted
Average
Exercise Price
|
|
|
Weighted
Average
Remaining
Contractual
Life
(in Years)
|
|
|
Aggregate
Intrinsic
Value
|
|
| Outstanding at December 31, 2016 |
|
|
10,530,953 |
|
|
$ |
0.33 |
|
|
|
4.03 |
|
|
|
|
|
| Granted |
|
|
7,000,000 |
|
|
|
0.08 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited or expired |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding at March 31, 2017 |
|
|
17,530,953 |
|
|
$ |
0.25 |
|
|
|
2.35 |
|
|
$ |
169,269 |
|
| Vested and expected to vest at March 31, 2017 |
|
|
8,103,667 |
|
|
$ |
0.37 |
|
|
|
|
|
|
$ |
33,512 |
|
| Exercisable at March 31, 2017 |
|
|
6,039,286 |
|
|
$ |
0.47 |
|
|
|
|
|
|
$ |
20,254 |
|
|
| Schedule of Warrants Outstanding |
The Company has the following
warrants outstanding as of March 31, 2017 all of which are exercisable:
| |
|
Issuance Date |
|
Expiration Date |
|
Warrant Shares |
|
|
Exercise Price |
|
| Warrant #1 |
|
November 12, 2014 |
|
November 12, 2019 |
|
|
600,000 |
|
|
$ |
0.50 |
|
| Warrant #2 |
|
March 21, 2015 |
|
March 20, 2018 |
|
|
48,000 |
|
|
$ |
0.10 |
|
| Warrant #3 |
|
October 30, 2015 |
|
October 30, 2020 |
|
|
600,000 |
|
|
$ |
0.50 |
|
| Warrant #4 |
|
December 1, 2015 |
|
November 30, 2018 |
|
|
9,719,879 |
|
|
$ |
0.07 |
|
| Warrant #5 |
|
April 4, 2016 |
|
April 4, 2019 |
|
|
2,452,325 |
|
|
$ |
0.07 |
|
| Warrant #6 |
|
April 4, 2016 |
|
April 4, 2019 |
|
|
2,429,530 |
|
|
$ |
0.07 |
|
| Warrant #7 |
|
December 15, 2016 |
|
December 14, 2019 |
|
|
176,000 |
|
|
$ |
0.25 |
|
| Warrant #8 |
|
December 30, 2016 |
|
December 29, 2019 |
|
|
2,429,530 |
|
|
$ |
0.08 |
|
| Outstanding at March 31, 2017 |
|
|
|
|
|
|
18,455,264 |
|
|
|
|
|
|