Annual report pursuant to Section 13 and 15(d)

Stock Warrants (Tables)

v3.3.1.900
Stock Warrants (Tables)
12 Months Ended
Dec. 31, 2015
Changes in Warrants
The following table shows the various changes in warrants for the years December 31, 2015 and 2014.
 
 
 
December 31,
 
December 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
Warrants Outstanding, Beginning of Year
 
 
5,236,660
 
 
7,147,775
 
Exercised During the Year
 
 
(4,746,755)
 
 
(1,285,746)
 
Issued During the Year
 
 
60,000
 
 
 
Forfeited During the Year
 
 
(14,814)
 
 
(625,369)
 
 
 
 
 
 
 
 
 
Warrants Outstanding, End of Year
 
 
535,091
 
 
5,236,660
 
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 30, 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