Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Tables)

v3.19.1
STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of warrant activity

A summary of warrant activity during the period January 1, 2017 to December 31, 2018 is as follows: 

 

      Shares
Underlying
Warrants
    Exercise
price per
share
    Weighted
average
exercise
price
 
Outstanding January 1, 2017       6,219,200     $ 0.625     $ 0.625  
Granted       2,308,513       0.20       0.20  
Forfeited/Cancelled                    
Exercised                    
Outstanding December 31, 2017       8,527,713     $ 0.20 to 0.625     $ 0.51  
Granted                    
Forfeited/Cancelled                    
Exercised                    
Outstanding December 31, 2018       8,527,713     $ 0.20 to 0.625     $ 0.51  
Schedule of warrants outstanding and exercisable

The warrants outstanding and exercisable at December 31, 2018 are as follows: 

 

      Warrants Outstanding     Warrants Exercisable  
Exercise
Price
    Number
Outstanding
    Weighted
Average
Remaining
Contractual
life in years
    Weighted
Average
Exercise
Price
    Number
Exercisable
  Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
life in years
 
$ 0.625       6,219,200       1.75             6,219,200                
$ 0.20       2,308,513       1.50             2,308,513                
                                                 
          8,527,713       1.68     $ 0.51     8,527,713   $ 0.51       1.68  
Schedule of assumptions were used in the Black-Scholes valuation model

The fair value of the options issued were valued using a Black Scholes option pricing model using the following assumptions: 

 

    Year ended
December 31,
2018
 
       
Calculated stock price   $ 0.04  
Risk-free interest rate     2.77 %
Expected life of warrants (in years)     10  
Expected volatility of the underlying stock     174.91 %
Expected dividend rate     0 %
Schedule of option activity

A summary of option activity during the period January 1, 2018 to December 31, 2018 is as follows: 

 

      Shares
Underlying
options
    Exercise
price per
share
    Weighted
average
exercise
price
 
Granted       2,000,000     $ 0.04     $ 0.04  
Forfeited/Cancelled                    
Exercised                    
Outstanding December 31, 2018       2,000,000     $ 0.04     $ 0.04  
Schedule of options outstanding and exercisable

The options outstanding and exercisable at December 31, 2018 are as follows: 

 

      Warrants Outstanding     Warrants Exercisable  
Exercise
Price
    Number
Outstanding
    Weighted
Average
Remaining
Contractual
life in years
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
life in years
 
 0.04       2,000,000       10.00     $ 0.04       2,000,000 `   $ 0.04       10.00