Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.5.0.2
Warrants (Tables)
6 Months Ended
Jun. 30, 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     18,009,430                          
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  
Canceled     -                          
Granted     21,112,500                          
Exercised     -                          
Forfeited     (541,697 )                        
Outstanding June 30, 2016     67,016,015     $ 0.35       3.60     $ 49,262  
Exercisable June 30, 2016     67,016,015     $ 0.35       3.60     $ 49,262  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

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

 

    June 30, 2016     December 31, 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