Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Deficit and Redeemable Convertible Series B Preferred Stock (Tables)

v3.5.0.2
Stockholders' Deficit and Redeemable Convertible Series B Preferred Stock (Tables)
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Schedule of summary of stock option activity

 

 

 

 

 

Options Outstanding

 

 

 

 Shares

 

 

 

 

 

 

 Weighted

 

 

 

 Available

for Grant of

 

 

Number of

 

 

Price per

 

 

Average

Exercise

 

 

 

Options & Shares

 

 

Shares

 

 

Share

 

 

 Price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

 2,020,000

 

 

 1,180,000

 

 

 $

0.42-3.00

 

 

 $ 0.63

 

Shares used for restricted stock awards (see discussion below)

 

 

 (1,200,000 )

 

 

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

 820,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

 -

 

 

 

 -

 

 

 $ -

 

 

 $ -

 

Options exercised

 

 

 -

 

 

 

 -

 

 

 $ -

 

 

 $ -

 

Options cancelled

 

 

 37,500

 

 

 

 (37,500 )

 

 $ 1.15

 

 

 $ 1.15

 

Balance at September 30, 2016

 

 

 857,500

 

 

 

 1,142,500

 

 

 $

0.42-3.00

 

 

 $ 0.61

 
Schedule of weighted average assumptions for employee options
 

 

 

Nine Months Ended September 30,

 

 

 

2016

 

2015

 

 

 

 

 

 

 

Dividend yield

 

NA

 

 

 0.00 %

Volatility factor

 

NA

 

 

 75.00 %

Risk-free interest rate

 

NA

 

1.65-1.85

%

Expected term (years)

 

NA

 

6.25-6.50

 

Weighted-average fair value of options granted during the periods

 

NA

 

 $ 2.69