Annual report pursuant to Section 13 and 15(d)

Stock Warrants (Tables)

v3.6.0.2
Stock Warrants (Tables)
12 Months Ended
Dec. 31, 2016
Stockholders' Equity Note [Abstract]  
Changes in Warrants
The following table shows the various changes in warrants for the years ended:
 
 
 
December 31,
 
December 31,
 
 
 
2016
 
2015
 
 
 
 
 
 
 
Warrants Outstanding, Beginning of Year
 
 
535,091
 
 
5,236,660
 
Exercised During the Year
 
 
(133,232)
 
 
(4,746,755)
 
Issued During the Year
 
 
-
 
 
60,000
 
Forfeited During the Year
 
 
-
 
 
(14,814)
 
 
 
 
 
 
 
 
 
Warrants Outstanding, End of Year
 
 
401,859
 
 
535,091
 
Schedule assumptions used to compute fair value of warrants granted
The following summary table shows the assumptions used to compute the fair value of the 60,000 warrants granted during the year ending December 31, 2015 for investor relations services and their estimated value:
 
  
·
Expected term in years
2.8 to 3.0 years
 
·
Volatility
122.8 to 122.9%
 
·
Risk-free interest rate
0.90 to 0.99%
 
·
Expected annual dividends
None
 
·
Fair value of warrants issued
$260,373