Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.7.0.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2016
Warrants  
Schedule of Stock Warrants Activity

The following is a summary of the Company’s warrant activity:

 

    Warrants     Weighted average exercise price     Weighted average remaining contractual term in years     Aggregate intrinsic value  
Outstanding January 1, 2015     28,435,782     $ 0.64       4.07     $ -  
Exercisable January 1, 2015     28,435,782     $ 0.64       4.07     $ -  
Canceled     -                          
Granted     18,568,180                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2015     47,003,962     $ 0.46       3.49     $ 2,579,541  
Exercisable December 31, 2015     47,003,962     $ 0.46       3.49     $ 2,579,541  
Canceled     -                          
Granted     42,037,500                          
Exercised     -                          
Forfeited     (676,426 )                        
Outstanding December 31, 2016     88,365,036     $ 0.30       3.50     $ 543,770  
Exercisable December 31, 2016     88,365,036     $ 0.30       3.50     $ 543,770  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

The range of fair value assumptions related to warrants outstanding were as follows as of December 31:

 

    2016     2015  
Dividend yield     0.0 %     0.0 %
Risk-free rate     0.12% - 0.86 %     0.12% - 0.66 %
Expected volatility     102% - 159 %     112% - 159 %
Expected term     1.0 - 2.5 years       1.0 - 2.5 years