Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v2.4.1.9
Warrants (Tables)
3 Months Ended
Mar. 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     $ 0.450       5.28     $ -  
Exercisable January 1, 2014     3,395,833     $ 0.450       5.28     $ -  
Canceled     (3,395,833 )                        
Granted     28,435,782                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2014     28,435,782     $ 0.643       4.07     $ -  
Exercisable December 31, 2014     28,435,782     $ 0.643       4.07     $ -  
Canceled     -                          
Granted     3,345,828     $ 0.118       5.00          
Exercised     -                          
Forfeited     -                          
Outstanding March 31, 2015     31,781,610     $ 0.588       3.95     $ 675,218  
Exercisable March 31, 2015     31,781,610     $ 0.588       3.95     $ 675,218  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

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

 

    March 31, 2015     December 31, 2014  
Dividend yield     0.0 %     0.0 %
Risk-free rate     0.12% - 0.66 %     0.12% - 0.66 %
Expected volatility     112% - 159 %     112% - 159 %
Expected term      1.0 - 2.5 years        1.0 - 2.5 years