5. Warrants

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Warrants

The Company currently has a total of 83,380,952 common stock purchase warrants outstanding to purchase a total of 83,380,952 shares of its common stock exercisable through various dates ranging to April 17, 2024, all of which are exercisable at $0.025 per share and only if the Company achieves certain milestones. These warrants are held by the Company’s chief executive officer, and as of September 30, 2016 these milestones have not been met.

During the period ended September 30, 2016, the Company paid $88,000 to repurchase 4,190,477 of the unvested CCI common stock purchase warrants held by the Company’s chief executive officer. This is recorded as general and administrative expense in the accompanying consolidated statement of operations.

Wytec currently has a total of 5,235,342 common stock purchase warrants outstanding to purchase a total of 5,235,342 shares of Wytec common stock exercisable until various dates through December 31, 2017, 750,000 of which are exercisable at an exercise price of $1.00, 461,000 of which are exercisable at an exercise price of $1.25 per share, 75,000 of which are exercisable at an exercise price of $1.45, 3,949,342 of which are exercisable at an exercise price of $1.50 per share.

The following is a summary of activity of CCI and Wytec outstanding common stock warrants:

	Number of CCI Warrants			Number of Wytec Warrants
Balance, December 31, 2015		87,579,429			2,805,672
Warrants granted		–			2,658,670
Warrants exercised		–			(59,000	)
Warrants repurchased		(4,190,477	)		(170,000	)
Warrants expired		–			–
Balance, September 30, 2016		83,380,952			5,235,342
Exercisable, September 30, 2016		83,380,952			5,235,342