| 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, 2014 |
|
|
15,290,486 |
|
|
$ |
0.07 |
|
|
|
3.89 |
|
|
$ |
305,810 |
|
| Exercisable January 1, 2014 |
|
|
15,290,486 |
|
|
$ |
0.07 |
|
|
|
3.89 |
|
|
$ |
305,810 |
|
| Canceled |
|
|
(15,290,486 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
27,756,821- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
(4,506 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding December 31, 2014 |
|
|
27,752,315 |
|
|
$ |
0.51 |
|
|
|
8.02 |
|
|
$ |
1,963,523 |
|
| Exercisable December 31, 2014 |
|
|
26,156,553 |
|
|
$ |
0.50 |
|
|
|
7.95 |
|
|
$ |
1,962,239 |
|
| Canceled |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Granted |
|
|
5,365,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding September 30, 2015 |
|
|
33,118,044 |
|
|
$ |
0.47 |
|
|
|
6.87 |
|
|
$ |
3,418,084 |
|
| Exercisable September 30, 2015 |
|
|
33,118,044 |
|
|
$ |
0.47 |
|
|
|
6.87 |
|
|
$ |
3,418,084 |
|
|
| Schedule of Non-vested Shares Granted Under Stock Option Plan |
A summary of the Company’s
non-vested options for the nine-months ended September 30, 2015 and year ended December 31, 2014, are presented below:
| Non-vested at January 1, 2014 |
|
|
- |
|
| Granted |
|
|
27,756,821 |
|
| Vested |
|
|
(26,156,553 |
) |
| Exercised |
|
|
(4,506 |
) |
| Forfeited |
|
|
- |
|
| Non-vested at December 31, 2014 |
|
|
1,595,762 |
|
| Granted |
|
|
5,365,729 |
|
| Vested |
|
|
(6,961,491 |
) |
| Exercised |
|
|
- |
|
| Forfeited |
|
|
- |
|
| Non-vested at September 30, 2015 |
|
|
- |
|
|
| Schedule of Fair Value Assumptions |
The range of fair value assumptions
related to options outstanding as of September 30, 2015 and December 31, 2014, were as follows:
| |
|
September 30, 2015 |
|
|
December 31, 2014 |
|
| |
|
(Unaudited) |
|
|
|
|
| Dividend yield |
|
|
0.0% |
|
|
|
0.0% |
|
| Risk-free rate |
|
|
0.12% - 1.47% |
|
|
|
0.12% - 1.47% |
|
| Expected volatility |
|
|
112% - 170% |
|
|
|
112% - 170% |
|
| Expected term |
|
|
1.1 - 5.5 years |
|
|
|
1.1 - 5.5 years |
|
|