Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.8.0.1
Warrants (Tables)
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Debenture

 

Warrant   Fair Value
At issuance
February 29, 2016   $ 106,583  
April 4, 2016   $ 53,236  
April 4, 2016   $ 27,901  
January 24, 2017   $ 13,973  
March 27, 2017   $ 11,923  
June 5, 2017   $ 14,826  
June 9, 2017   $ 7,489  

Weighted average assumptions

 

Warrant Date   Exercise Price/sh   Common Stock Price/sh   Volatility   Term   Dividend Yield   Interest Rate   Forfeiture Risk
February 29, 2016   $ 1.15     $ 0.90       200 %   3 yrs     0 %     0.91 %     0 %
April 4, 2016   $ 1.15     $ 0.95       195 %   3 yrs     0 %     0.91 %     0 %
April 4, 2016   $ 1.15     $ 0.95       195 %   3 yrs     0 %     0.91 %     0 %
January 24, 2017   $ 1.00     $ 0.78       404 %   2 yrs     0 %     0.91 %     0 %
March 27, 2017   $ 1.00     $ 0.80       390 %   2 yrs     0 %     0.91 %     0 %
June 5, 2017   $ 1.00     $ 0.99       445 %   2 yrs     0 %     0.91 %     0 %
June 9, 2017   $ 1.00     $ 0.99       445 %   2 yrs     0 %     0.91 %     0 %

Warrants

 

    Warrant Shares   Weighted Average Exercise Price Per Common Share   Weighted Average Life
Outstanding at December 31, 2016     233,964     $ 1.15       2.13  
Issued     55,500     $ 1.00       2.00  
Exercised     —         —         —    
Expired     (8,700 )     —         —    
Outstanding at September 30, 2017     280,764     $ 1.09       1.51  
Exercisable at September 30, 2017     258,264     $ 1.12       1.46  

Black-scholes modle

 

Exercises price $1.00 - $1.15
Common stock price per share $1.09
Volatility 392%
Weighted average life 1.51 years
Dividend yield 0%
Interest rate 0.91%
Forfeiture risk 0%