Annual report pursuant to Section 13 and 15(d)

WARRANTS (Tables)

v3.3.1.900
WARRANTS (Tables)
12 Months Ended
Dec. 31, 2015
Warrants Tables  
Warrants outstanding

The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of December 31, 2015:

 

 

    December 31, 2015  
          Weighted  
          Average  
          Exercise  
    Shares     Price  
                 
Warrants outstanding – beginning of year     20,709,845     $ 0.23  
Warrants exercised     -       0.00  
Warrants granted     17,856,563       0.20  
Warrants expired     (6,140,400 )     (0.33 )
                 
Warrants outstanding – end of period     32,426,008     $ 0.18  
Weighted exercise price and weighted fair value of the warrants granted

The weighted exercise price and weighted fair value of the warrants granted by us as of December 31, 2015, are as follows:

 

    December 31, 2015  
    Weighted        
    Average     Weighted  
    Exercise     Average  
    Price     Fair Value  
             
Weighted average of warrants granted during the year whose exercise price exceeded fair market value at the date of grant   $ 0.20     $ 0.20  
Summarizes information about fixed-price warrants outstanding

The following table summarizes information about fixed-price warrants outstanding:

 

Number     Average            
Range of     Outstanding at     Remaining   Weighted  
Exercise     December 31,     Contractual   Average  
Prices     2015     Life   Exercise Price  
                         
$ 0.46       150,000     1 Months   $ 0.46  
$ 0.85       40,000     4 Months   $ 0.85  
$ 0.40       333,333     8 Months   $ 0.40  
$ 0.33       439,637     13 Months   $ 0.33  
$ 0.16       750,000     15 Months   $ 0.16  
$ 0.21       14,946,119     30 Months   $ 0.21  
$ 0.30       5,789,473     31 Months   $ 0.30  
$ 0.06       7,067,002     34 Months   $ 0.06  
$ 0.16       1,118,068     38 Months   $ 0.16  
$ 0.13       863,392     40 Months   $ 0.13  
$ 0.12       928,984     41 Months   $ 0.12  
          32,426,008