Quarterly report pursuant to Section 13 or 15(d)

Stockholders Warrants (Tables)

Stockholders Warrants (Tables)

3 Months Ended

Mar. 31, 2017

Summary of the status of warrants (Tables)

A summary of the status of the Company’s warrants is presented below.

	March 31, 2017			December 31, 2016
	Number of Warrants		Weighted Average Exercise Price	Number of Warrants		Weighted Average Exercise Price

Outstanding, beginning of year	32,071,901	$	0.13	14,705,818	$	0.16
Issued	1,550,000		0.10	20,350,000		0.09
Exercised	-		-	-		-
Cancelled	-		-	-		0.14
Expired	(50,000)		0.38	(2,983,917)		0.13
Outstanding, end of period	33,571,901	$	0.10	32,071,901	$	0.13

Warrants outstanding and exercisable (Tables)

Warrants outstanding and exercisable by price range as of March 31, 2017 were as follows:

	Outstanding Warrants				Exercisable Warrants
			Average
			Weighted					Weighted Average Exercise Price
			Remaining
	Exercise Price	Number	Contractual Life in Years		Exercise Price	Number

$	0.05	1,250,000	4.45	$	0.05	1,250,000	$	0.05
	0.08	17,925,000	4.05		0.08	17,925,000		0.08
	0.09	709,110	3.13		0.09	709,110		0.09
	0.10	9,177,200	3.83		0.10	9,177,200		0.10
	0.12	99,041	1.92		0.12	99,041		0.12
	0.14	50,000	2.37		0.14	50,000		0.14
	0.15	2,485,274	1.05		0.15	2,485,274		0.15
	0.17	50,000	2.00		0.17	50,000		0.17
	0.19	100,000	1.21		0.19	100,000		0.19
	0.20	250,000	0.08		0.20	250,000		0.20
	0.22	269,276	1.50		0.22	269,276		0.22
	0.25	707,000	1.27		0.25	707,000		0.25
	0.30	250,000	1.66		0.30	250,000		0.30
	0.33	250,000	1.25		0.33	250,000		0.33
		33,571,901	1.29			33,571,901	$	0.10

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details