Note 7 - Warrants

6 Months Ended

Jun. 30, 2017

NOTE 7 - WARRANTS

For the six-month period ended June 30, 2017, 87,500 warrants were issued related to the subscription of common shares – See NOTE 6 – SHAREHOLDERS EQUITY, 18,150 were issued for renewal of convertible debt – See NOTE 4 – SHORT TERM DEBT, and 25,000 warrants were exercised and none were forfeited.

The Company’s outstanding and exercisable warrants as of June 30, 2017 are presented below:

	Number Outstanding		Weighted Average Exercise Price	Contractual Life in Years		Intrinsic Value

Warrants Outstanding as of December 31, 2016	2,647,446	$	0.24	4.24	$	930,751

Warrants Granted	105,650		0.12	5.00		-
Warrants Forfeited	-		-	-		-
Warrants Exercised	25,000		0.01	-		-

Warrants Outstanding as of June 30, 2017	2,728,096	$	0.23	3.78	$	1,150,651

- 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.

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