Annual report pursuant to Section 13 and 15(d)

Stock Option Plans (Tables)

v3.3.1.900
Stock Option Plans (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Option Activity

A summary of stock option activity is as follows:

 

    Options     Weighted
average
exercise
price
    Weighted
average
remaining
contractual
term in years
    Aggregate
intrinsic value
 
Outstanding January 1, 2014     15,290,486     $ 0.07       3.89     $ 305,810  
Exercisable January 1, 2014     15,290,486     $ 0.07       3.89     $ 305,810  
Canceled     (15,290,486 )                        
Granted     27,756,821-                          
Exercised     (4,506 )                        
Forfeited     -                          
Outstanding December 31, 2014     27,752,315     $ 0.51       8.02     $ 1,963,523  
Exercisable December 31, 2014     26,156,553     $ 0.50       7.95     $ 1,962,239  
Canceled     -                          
Granted     6,456,890                          
Exercised     (41,851 )                        
Forfeited     -                          
Outstanding December 31, 2015     34,167,354     $ 0.47       6.57     $ 974,066  
Exercisable December 31, 2015     34,167,354     $ 0.47       6.57     $ 974,066  

Schedule of Non-vested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the year ended December 31, 2015 and year ended December 31, 2014, are presented below:

 

Non-vested at January 1, 2014     -  
Granted     27,756,821  
Vested     (26,156,553 )
Exercised     (4,506 )
Forfeited     -  
Non-vested at December 31, 2014     1,595,762  
Granted     6,456,890  
Vested     (8,010,801 )
Exercised     (41,851 )
Forfeited     -  
Non-vested at December 31, 2015     -  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options outstanding as of December 31, 2015 and 2014, were as follows:

 

    December 31, 2015     December 31, 2014  
Dividend yield     0.0 %     0.0 %
Risk-free rate     0.12% - 1.47 %     0.12% - 1.47 %
Expected volatility     112% - 170 %     112% - 170 %
Expected term     1.1 - 5.5 years       1.1 - 5.5 years