XML 47 R23.htm IDEA: XBRL DOCUMENT

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Share-based Compensation, Stock Options

		Options				Weighted average exercise price				Weighted remaining contractual life (years)				Aggregate intrinsic value
Outstanding at December 31, 2014			113,000			$	0.37				9.5			$	-
Granted			51,500			$	0.12				9.7				-
Exercised			-				-				-				-
Cancelled			-				-				-				-
Forfeited			-				-				-				-
Outstanding at September 30, 2015			164,500			$	0.29				9.0				-
Vested at September 30, 2015			164,500			$	0.29				9.0			$	-

Schedule of Warrant activity

		September 30, 2015
Warrant liability
Beginning Balance December 31, 2014		$	-
Initial Fair Value of Derivative Liability with January 2015 Non-Convertible Debentures			149,998
Initial Fair Value of Derivative Liability with the February 2014 Convertible Debentures			76,299
Change in Fair Value			28,864
Ending Balance		$	255,161

Derivative liabilities
Beginning Balance December 31, 2014		$	-
Value of Derivative Liability with the 3rd quarter 2015 Convertible Debentures			901,784
Change in Fair Value			(345,242	)
Ending Balance		$	556,542

Warrant [Member]

Schedule Of Assumptions Used

		September 30, 2015
Expected life (in years)			4.3
Expected volatility			226	%
Average risk free interest rate			1.15	%
Dividend yield			0	%

Warrant [Member] | Fair Value, Inputs, Level 3 [Member]

Schedule Of Assumptions Used

		September 30, 2015
Stock price		$	0.07 - $0.16
Strike price		$	0.15
Expected life (in years)			1 year
Expected volatility			101-119	%
Average risk free interest rate			0.28 – 0.39	%

At September 30, 2015, the estimated Level 3 fair values of the embedded conversion feature liabilities measured on a recurring basis are as follows:

		Fair value				Level 1				Level 2				Level 3				Total
Embedded conversion feature derivative liabilities		$	556,542			$	-			$	-			$	556,542			$	556,542

Schedule of Warrant activity

		September 30, 2015
Balance at December 31, 2014		$	-
Additions during period			901,784
(Gain)/Loss on change in fair value			(345,242	)
Transfers in and out of Level 3			-
Balance at September 30, 2015		$	556,542

Employee Stock Option [Member]

Schedule Of Assumptions Used

Expected life (in years)			6.0
Expected volatility			219.31	%
Average risk free interest rate			1.54	%
Dividend yield			0	%

Schedule of Share-based Compensation, Stock Options

		Restricted Stock Units
Outstanding at December 31, 2014			8,270,239
Granted			11,046,862
Converted			(500,000	)
Cancelled			(570,000	)
Outstanding at September 30, 2015			18,247,101
Vested at September 30, 2015			13,459,600

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.

+ References + Details