NOTE 7 – STOCK GRANTS

Director stock grants

During the three-months ended March 31, 2018 and year ended December 31, 2017, the Company granted its independent directors an aggregate of 185,184 and 793,025, respectively, shares of restricted common stock in the Company. The expense recognized for these grants based on the grant date fair value was $50,000 and $150,000, respectively. These shares were fully vested upon issuance.

Consultant stock grants

On April 10, 2017, the Company granted a consultant 100,000 shares of restricted common stock valued at $0.23 per share. These shares were subject to a risk of forfeiture and vested quarterly in arrears commencing on April 1, 2018. The Company recognized $5,750 and $17,250 in stock-based compensation related to this grant during the three-months ended March 31, 2018 and year ended December 31, 2017, respectively.

On August 8, 2017, the Company granted a consultant 100,000 shares of restricted common stock valued at $0.175 per share. These shares were subject to a risk of forfeiture and vested 25% upon grant and quarterly in arrears thereafter commencing on September 1, 2017. The Company recognized $4,375 and $13,125 in stock-based compensation related to this grant during the three-months ended March 31, 2018 and year ended December 31, 2017, respectively.