Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.8.0.1
Shareholders' Deficit (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of Preferred Stock

The Company has authorized 5,000,000 shares of preferred stock which have been designated as follows:

 

    Number of Shares     Number of Shares Outstanding at     Par     Liquidation  
    Authorized     March 31, 2018     Value     Value  
Series AA     1,000,000       5,000     $ 0.0001     $ -  
Preferred Series B     50,000       1,350     $ 0.0001     $ 100  
Preferred Series C     8,000       760     $ 0.0001     $ 1,000  
Undesignated     3,942,000       -       -       -  

Schedule of Stock Options Outstanding

The balance of all stock options outstanding as of March 31, 2018 is as follows:

 

          Weighted Average     Weighted Average     Aggregate  
          Exercise Price     Remaining Contractual     Intrinsic  
    Options     Per Share     Term (years)     Value  
Outstanding at January 1, 2018     93,203,369     $ 0.029       3.96          
Granted     -     $ -                  
Cancelled     -     $ -                  
Exercised     -     $ -                  
Outstanding at March 31, 2018     93,203,369     $ 0.029       3.71     $ 484,658  
                                 
Exercisable at March 31, 2018     93,203,369     $ 0.029       3.71     $ 484,658  

Schedule of Stock Options Valuation of Assumptions

The Company measures the fair value of warrants issued using the Black Scholes option pricing model using the following assumptions:

 

    Three months ended March 31, 2018
     
Expected term   2 years - 5 years
Exercise price   $0.0001-$0.0516
Expected volatility   176%-193%
Expected dividends   None
Risk-free interest rate   1.92% to 2.65%
Forfeitures   None

Schedule of Warrants Outstanding

A summary of the status of the warrants granted under these agreements at March 31, 2018, and changes during the three months then ended is presented below:

 

    Outstanding Warrants  
          Weighted Average  
          Exercise Price  
    Shares     Per Share  
Outstanding at January 1, 2018     61,807,992     $ 0.31  
Granted     14,838,061     $ 0.24  
Cancelled     (300,000 )   $ 0.81  
Exercised     -     $ -  
Outstanding at March 31, 2018     76,346,053     $ 0.30  
                 
Exercisable at March 31, 2018     76,346,053     $ 0.30