Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.10.0.1
Shareholders' Deficit (Tables)
6 Months Ended
Jun. 30, 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

Authorized

    Number of Shares Outstanding at June 30, 2018    

Par

Value

   

Liquidation

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       1,037     $ 0.0001     $ 1,000  
Undesignated     3,942,000       -       -       -  

Schedule of Stock Options Outstanding

The balance of all stock options outstanding as of June 30, 2018 is as follows:

 

         

Weighted Average

Exercise Price

   

Weighted Average

Remaining Contractual

   

Aggregate

Intrinsic

 
    Options     Per Share     Term (years)     Value  
Outstanding at January 1, 2018     93,203,369     $ 0.029       3.96          
Granted     -     $ -                  
Cancelled     -     $ -                  
Exercised     -     $ -                  
Outstanding at June 30, 2018     93,203,369     $ 0.029       3.46     $ 624,463  
                                 
Exercisable at June 30, 2018     93,203,369     $ 0.029       3.46     $ 624,463  

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:

 

     

Six months ended

June 30, 2018

 
         
Expected term     2 years - 5 years  
Exercise price     $0.0001-$0.0516  
Expected volatility     166%-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 June 30, 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     16,975,176     $ 0.21  
Cancelled     (300,000 )   $ 0.81  
Exercised     -     $ -  
Outstanding at June 30, 2018     78,483,168     $ 0.29  
                 
Exercisable at June 30, 2018     78,483,168     $ 0.29