Annual report pursuant to Section 13 and 15(d)

EQUITY (Tables)

v3.8.0.1
EQUITY (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of fair value of the options using the Black-Scholes option-pricing model

The fair value of these options granted during the year ended December 31, 2017 was determined using the Black-Scholes option-pricing model and using the following assumptions:

 

Dividend rate 0
Terms (in years) 3.0-10.0
Volatility 298.49% to 597.16%
Risk-free interest rate 1.74% to 2.40%
Schedule of stock options outstanding

The following table summarizes the shares of the Company’s common stock issuable upon exercise of options outstanding at December 31, 2017:

 

Options Outstanding     Options Exercisable  
  Range of Exercise Price       Number Outstanding at December 31, 2017       Range of Weighted Average Remaining Contractual Life (Years)       Weighted Average Exercise Price       Number Exercisable at December 31, 2017       Weighted Average Exercise Price  
$ 0.50       2,000,000       9.11     $ 0.50       611,111     $ 0.50  
  1.49       60,000       4.32       1.49       60,000       1.49  
  1.00       230,000       3.27       1.00       10,000       1.00  
$ 0.50–1.49       2,290,000       8.40     $ 0.58       681,111     $ 0.59  
Employee Stock Option [Member]  
Schedule of stock option activities

Employee stock option activities for the year ended December 31, 2017 were as follows:

 

    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2016         $  
Granted     2,110,000       0.54  
Exercised            
Outstanding at December 31, 2017     2,110,000       0.54  
Options exercisable at December 31, 2017     681,111     $ 0.59  
Options expected to vest     1,428,889     $ 0.51  
Schedule of non vested stock option activities

A summary of the status of the Company’s nonvested employee stock options granted as of December 31, 2017 and changes during the year ended December 31, 2017 is presented below:

 

      Number of Options     Weighted Average Exercise Price     Grant Date Fair Value  
Nonvested at December 31, 2016           $     $  
Granted       2,110,000       0.54       2,719,960  
Vested       681,111       0.59       843,881  
Forfeited                    
Nonvested at December 31, 2017       1,428,889     $ 0.51     $ 1,876,079  
Non Employee Stock Option [Member]  
Schedule of stock option activities

Non-employee stock option activities for the year ended December 31, 2017 were as follows:

 

    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2016         $  
Granted     180,000       1.00  
Exercised            
Outstanding at December 31, 2017     180,000       1.00  
Options exercisable at December 31, 2017         $  
Options expected to vest     180,000     $ 1.00  
Schedule of non vested stock option activities

A summary of the status of the Company’s nonvested non-employee stock options granted as of December 31, 2017 and changes during the year ended December 31, 2017 is presented below:

 

      Number of Options     Weighted Average Exercise Price     Fair Value at December 31, 2017  
Nonvested at December 31, 2016           $     $  
Granted       180,000       1.00       447,348  
Vested                    
Forfeited                    
Nonvested at December 31, 2017       180,000     $ 1.00     $ 447,348