Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Deficit (Tables)

v3.10.0.1
Shareholders' Deficit (Tables)
9 Months Ended
Sep. 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     Number of Shares Outstanding     Par     Liquidation  
    Authorized     at September 30, 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       1,318     $ 0.0001     $ 1,000  
Undesignated     3,942,000       -       -       -  

Schedule of Stock Options Outstanding

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

 

          Weighted     Weighted Average        
         

Average

Exercise Price

    Remaining Contractual    

Aggregate

Intrinsic

 
    Options     Per Share     Term (years)     Value  
Outstanding at January 1, 2018     93,203,369     $ 0.029       3.96          
Granted     1,000,000     $ 0.030       1.86          
Cancelled     -     $ -       -          
Exercised     -     $ -       -          
Outstanding at September 30, 2018     94,203,369     $ 0.029       3.19     $ 2,232,620  
                                 
Exercisable at September 30, 2018     93,286,702     $ 0.029       3.21     $ 2,210,895  

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:

 

 

  Nine months ended September 30,  
  2018  
         
Expected term     2 years - 5 years  
Exercise price     $0.0001-$0.0516  
Expected volatility     158%-193%  
Expected dividends     None  
Risk-free interest rate     1.92% to 2.81%  
Forfeitures     None  

Schedule of Warrants Outstanding

A summary of the status of the warrants granted under these agreements at September 30, 2018, and changes during the nine 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     18,480,984     $ 0.20  
Cancelled     (300,000 )   $ 0.81  
Exercised     -     $ -  
Outstanding at September 30, 2018     79,988,976     $ 0.28  
                 
Exercisable at September 30, 2018     79,988,976     $ 0.28