NOTE 5 - STOCK OPTIONS

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

NOTE 5 - STOCK OPTIONS

NOTE 5 STOCK OPTIONS

The Company adopted ASC 718 “Compensation – Stock Compensation” and requires companies to measure and recognize the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value.

2007 Stock Incentive Plan

On February 19, 2007, the Company adopted the 2007 Stock Incentive Plan (the "2007 Plan") allowing for the awarding of options to acquire shares of common stock. This plan provides for the grant of incentive stock options to key employees, directors and consultants. Options issued under this plan will expire over a maximum term of ten years from the date of grant.

On March 8, 2007, the Company registered 38,400,000 shares underlying stock options under the 2007 Stock Incentive Plan with the SEC pursuant to a registration statement on Form S-8.

During the year 2007 to 2013, the Company had issued a total of 6,522,309 shares to its staff and consultants for their service provided.

In 2014 and 2015, the Company did not issue any share options under the 2007 Plan.

As at March 31, 2016 and December 31, 2015, there were i) no outstanding stock options and ii) 31,877,691 shares available to be issued under the 2007 Plan.