Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.3.1.900
Warrants (Tables)
12 Months Ended
Dec. 31, 2015
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, 2014     3,395,833     $ 0.45       5.28     $ -  
Exercisable January 1, 2014     3,395,833     $ 0.45       5.28     $ -  
Canceled     (3,395,833 )                        
Granted     28,435,782                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2014     28,435,782     $ 0.64       4.07     $ -  
Exercisable December 31, 2014     28,435,782     $ 0.64       4.07     $ -  
Canceled     -                          
Granted     18,009,430                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2015     46,445,212     $ 0.46       3.48     $ 2,517,337  
Exercisable December 31, 2015     46,445,212     $ 0.46       3.48     $ 2,517,337  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

The range of fair value assumptions related to warrants 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% - 0.86 %     0.12% - 0.66 %
Expected volatility     102% - 159 %     112% - 159 %
Expected term     1.0 - 2.5 years        1.0 - 2.5 years