Annual report pursuant to Section 13 and 15(d)

Options and Warrants (Tables)

v3.10.0.1
Options and Warrants (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2017
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]    
Warrant Activity

 

    Number of
Warrants
  Weighted Average
Exercise Price
  Average Remaining
Contractual Life
Outstanding at December 31, 2016     188,125,232     $ 0.21       1.25  
Exercisable at December 31, 2016     180,125,232     $ 0.22       1.25  
Granted *     4,150,000       0.20       1.89  
Exercised                        
Cancelled/ expired     (6,369,167 )     0.20       —    
Outstanding at March 31, 2017     185,906,065       0.21       1.89  
Exercisable at March 31, 2017     177,906,065       0.21       1.89  
Granted *     6,268,111       0.27       1.26  
Exercised                        
Cancelled/ expired     (15,434,000      0.27        
Outstanding at June 30, 2017     176,740,176       0.20       1.26  
Exercisable at June 30, 2017     176,740,176       0.20       1.26  
Granted *     4,510,667       0.24       1.70  
Exercised                        
Cancelled/ expired     (15,085,000 )     0.30       —    
Outstanding at September 30, 2017     166,165,843       0.19       1.70  
Exercisable at September 30, 2017     166,165,843       0.19       1.70  

 

    Number of
Warrants
  Weighted Average
Exercise Price
  Average Remaining
Contractual Life
Outstanding at December 31, 2015     102,188,477     $ 0.25       1.20  
Granted     125,483,049       0.19       1.69  
Exercised     (12,441,667 )     0.05       —    
Cancelled/ expired     (27,104,627 )     0.29       —    
Outstanding at December 31, 2016     188,125,232     $ 0.21       1.25  
Exercisable at December 31, 2016     180,125,232     $ 0.22       1.25  
Granted *     99,386,380       0.17       1.79  
Exercised     —         —         —    
Cancelled/ expired     (64,642,183 )     0.25       —    
Outstanding at December 31, 2017     222,869,429       0.18       1.29  
Exercisable at December 31, 2017     222,869,429       0.18       1.29  

Option Activity

 

    Number of
Options
  Weighted Average
Exercise Price
  Average Remaining
Contractual Life
Outstanding at December 31, 2016     26,345,000     $ 0.10       5.90  
Exercisable at December 31, 2016     14,997,836     $ 0.12       2.12  
Granted     —         —         —    
Exercised     —         —         —    
Cancelled     (4,075,000 )     0.13       3.55  
Outstanding at March 31, 2017     22,270,000       0.10       6.06  
Exercisable at March 31, 2017     11,842,904       0.11       2.35  
Granted     —         —         —    
Exercised     —         —         —    
Cancelled     (430,000 )     0.12       2.75  
Outstanding at June 30, 2017     21,840,000       0.10       5.74  
Exercisable at June 30, 2017     12,084,603       0.11       3.49  
Granted     —         —         —    
Exercised     —         —         —    
Cancelled     (900,000 )     0.11       2.77  
Outstanding at September 30, 2017     20,940,000       0.10       5.73  
Exercisable at September 30, 2017     11,655,945       0.11       3.49  

    Number of
Options
  Weighted Average
Exercise Price
  Average Remaining
Contractual Life
Outstanding at December 31, 2015     15,480,000     $ 0.11       5.04  
Granted     11,065,000       0.09       9.03  
Exercised     —         —         —    
Cancelled     (200,000)       0.15       2.30  
Outstanding at December 31, 2016     26,345,000     $ 0.10       5.90  
Exercisable at December 31, 2016     15,080,027     $ 0.12       2.12  
Granted     2,112,000       0.05       4.97  
Exercised     —         —         —    
Cancelled     (5,505,000)       0.12       3.34  
Outstanding at December 31, 2017     22,952,000     $ 0.09       5.46  
Exercisable at December 31, 2017     13,952,288     $ 0.09       2.78  
Assumptions and Valuation  
  Dec 31, 2017 Jan 22, 2016 Feb 29, 2016 March 31, 2016 June 14, 2016 June 30, 2016 Sept 30, 2016
Stock price $0.042 $0.12 $0.09 $0.06 $0.09 $0.095 $0.084
Volatility 89% 92% 92% 94% 106% 106% 106%
Risk free interest rate 1.98% 1.2% 1.7% 1.2% 1.0% 1.2% 1.4%
Expected life 3 years 5 years 10 years 10 years 10 years 10 years 6 years
Fair Value of Options  

 

Valuation date   Number of options   Fair value
January 22, 2016   240,000  $ 19,922
February 29, 2016   100,000              7,758
March 31, 2016   1,076,370    47,603
June 14, 2016   1,000,000   81,492
June 30, 2016   951,370   61,551
September 30, 2016   787,516   45,772
December 31, 2016   812,828   33,019
December 31, 2017   2,218,096   122,432

Number and Weighted average exercise prices

 

    Options   Weighted average
exercise price
  Weighted average remaining contract life
Outstanding at December 31, 2016     65,000,000     $ 0.0002       1.18  
Granted     —         —         —    
Expired     —         —         —    
Outstanding at March 31, 2017     65,000,000     $ 0.0002       0.93  
Exercisable at March 31, 2017     65,000,000     $ 0.0002       0.93  
Granted     —         —         —    
Expired     —         —         —    
Outstanding at June 30, 2017     65,000,000     $ 0.0002       0.68  
Exercisable at June 30, 2017     65,000,000     $ 0.0002       0.68  
Granted     —         —         —    
Expired     —         —         —    
Outstanding at September 30, 2017     65,000,000     $ 0.0002       0.43  
Exercisable at September 30, 2017     65,000,000     $ 0.0002       0.43  

    Options   Weighted average
exercise price
  Weighted average remaining contract life
Opening at December 31, 2015     69,000,000     $ 0.0002       2.27  
Granted     —         —         —    
Expired     (4,000,000 )     0.0003       —    
Outstanding at December 31, 2016     65,000,000     $ 0.0002       1.18  
Exercisable at December 31, 2016     65,000,000     $ 0.0002       1.18  
Granted     —         —         —    
Expired     —         —         —    
Outstanding at December 31, 2017     65,000,000     $ 0.0002       0.18  
Exercisable at December 31, 2017     65,000,000     $ 0.0002       0.18