Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.7.0.1
Shareholders' Deficit (Tables)
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Schedule of Warrants Outstanding

The balance of all warrants outstanding as of June 30, 2017 is as follows:

 

    Outstanding Warrants  
          Weighted Average  
          Exercise Price  
    Shares     Per Share  
Outstanding at January 1, 2017     9,494,940     $ 0.33  
Granted     20,645,587     $ 0.06  
Cancelled     -     $ -  
Exercised     -     $ -  
Outstanding at June 30, 2017     30,140,527     $ 0.14  
                 
Exercisable at June 30, 2017     30,140,527     $ 0.14  

Schedule of Stock Options Outstanding

The balance of all stock options outstanding as of June 30, 2017 is as follows:

  

          Weighted Average     Weighted Average
Remaining
    Aggregate  
          Exercise Price     Contractual     Intrinsic  
    Options     Per Share     Term (years)     Value (1)  
Outstanding at January 1, 2017     -     $ -       -          
Granted     19,250,000     $ 0.054       9.94          
Cancelled     -     $ -       -          
Exercised     -     $ -       -          
Outstanding at June 30, 2017     19,250,000     $ 0.054       9.94     $ -  
                                 
Exercisable at June 30, 2017     19,250,000     $ 0.054       9.94     $ -  
                                 
Weighted average fair value of options granted during the period     19,250,000     $ 0.052                  

Schedule of Stock Options Valuation of Assumptions

The following assumptions were used at June 30, 2017 to value the stock options using the Black Scholes option pricing model.

 

    Six months ended  
    June 30, 2017  
       
Expected term     5 years  
Exercise price   $ 0.05  
Expected volatility     184 %
Expected dividends     None  
Risk-free interest rate     1.79 %
Forfeitures     None