NOTE 8 – STOCK PURCHASE WARRANTS
During the year ended December 31, 2016, the Company issued 73,096 warrants to acquire its common stock. In applying the Black-Scholes options pricing model to the options and warrant grants, the fair value of our share-based awards granted were estimated using the following assumptions for the periods indicated below:
|
December 31, 2016 |
||||
| Risk-free interest rate | 1.93 | % | ||
| Expected options life | 5.00 | |||
| Expected dividend yield | - | |||
| Expected price volatility | 348.69 | % | ||
A summary of the status of the Company's stock options as of December 31, 2016 and changes during the year ended December 31, 2016 is presented below:
| Number of Warrants | ||||
| Outstanding at December 31, 2015 | 1,666,667 | |||
| Warrants granted during year ended December 31, 2016 | 73,096 | |||
| Warrants exercised | - | |||
| Warrants forfeited or expired | - | |||
| Outstanding at December 31, 2016 | 1,739,763 | |||
| Exercisable at December 31, 2016 | 1,739,763 | |||