Quarterly report pursuant to Section 13 or 15(d)

Stock Option Plans (Tables)

v3.7.0.1
Stock Option Plans (Tables)
6 Months Ended
Jun. 30, 2017
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, 2016     34,167,354     $ 0.47       6.57     $ 974,066  
Exercisable January 1, 2016     34,167,354     $ 0.47       6.57     $ 974,066  
Canceled     -                          
Granted     6,156,580                          
Exercised     -                          
Forfeited     (3,501,965 )                        
Outstanding December 31, 2016     36,821,969     $ 0.41       5.94     $ 301,273  
Exercisable December 31, 2016     36,771,969     $ 0.41       5.94     $ 299,273  
Canceled     -                          
Granted     161,458                          
Exercised     -                          
Forfeited     -                          
Outstanding June 30, 2017     36,983,427     $ 0.40       5.44     $ 1,068,480  
Exercisable June 30, 2017     36,983,427     $ 0.40       5.44     $ 1,068,480  

Schedule of Non-vested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the six-months ended June 30, 2017 and year ended December 31, 2016 are presented below:

 

Non-vested at January 1, 2016     -  
Granted     6,156,580  
Vested     (6,106,580 )
Forfeited     -  
Non-vested at December 31, 2016     50,000  
Granted     161,458  
Vested     (211,458 )
Forfeited     -  
Non-vested at June 30, 2017     -  

 

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options issued were as follows for the periods ended:

 

    June 30, 2017     December 31, 2016  
    (Unaudited)        
Dividend yield     0.0 %     0.0 %
Risk-free rate     1.89% - 1.93 %     0.80% - 1.03 %
Expected volatility     231% - 232 %     141% - 225 %
Expected term     5 years        5 years