Shareholders' Deficit

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' DEFICIT

NOTE 5 – SHAREHOLDERS' DEFICIT

Common Stock

Common Stock issued on conversion of notes payable

None.

Option Grants 

Option Grants

The Company recorded no compensation expense for the three months ended March 31, 2020 and 2019. As of March 31, 2020, there was $0 in unrecognized compensation expense.

The Company did not grant any options during the three months ended March 31, 2020, and 26,233 options expired; none were cancelled. There are no unvested options as of March 31, 2020.

The following tables summarize information about stock options outstanding and exercisable:  

	Options Outstanding and Exercisable at March 31, 2020
Range of Exercise Prices	Number  Exercisable		Weighted  Remaining  Contractual  Life	Weighted  Average  Exercise  Price		Aggregate  Intrinsic Value (1)
$0.40 to $0.60		750,000	.5 years	$	0.64	$	—
$0.61 to $1.00		9,800,000	.4 years	$	0.67	$	—
$1.01 to $1.50		14,500,000	.5 years	$	1.25	$	—
$1.51 to $2.25		3,000,000	1.0 years	$	1.63	$	—
$0.40 to $2.25		28,050,000	.6 years	$	1.07	$	—

(1) The aggregate intrinsic value in the table represents the difference between the closing stock price on March 31, 2020 and December 31, 2019, and the exercise price, multiplied by the number of in-the-money options that would have been received by the option holders had all option holders exercised their options on March 31, 2020 and December 31, 2019.

Common Stock Purchase Warrants

For warrants granted to non-employees in exchange for services, the Company recorded the fair value of the equity instrument using the Black-Scholes pricing model unless the value of the services is more reliably measurable.

The Company did not grant any warrants during the three months ended March 31, 2020 and no warrants were exercised, 100,000 expired, and none were cancelled. At March 31, 2020 there were 4,765,640 warrants outstanding, with exercise prices ranging from $0.89 to $1.23, a weighted exercise price of $0.84 and a weighted remaining contractual life of 0.5 years.

The aggregate intrinsic value of the 4,765,640 outstanding and exercisable warrants at March 31, 2020 and December 31, 2019 was $0. The intrinsic value is the difference between the closing stock price on March 31, 2020 and December 31, 2019 and the exercise price, multiplied by the number of in-the-money warrants had all warrant holders exercised their warrants on March 31, 2020 or December 31, 2019.

The following table summarizes information about the Company's stock purchase warrants outstanding at March 31, 2020.

	Number			Weighted  Average  Exercise  Price		Range  of  Exercise  Price		Weighted  Remaining  Contractual  Life (1)
Outstanding at December 31, 2018		4,865,640		$	0.77	$	0.20 – 1.23		1.5 years
Granted		—
Cancelled or expired		---
Exercised		—
Outstanding and exercisable at December 31, 2019		4,865,640			0.84		0.20 --1.23		1.5 years
Granted
Cancelled or expired		(100,000	)		0.20		0.20 – 0.20
Outstanding and exercisable at March 31, 2020		4,765,640		$	0.84	$	0.89 - 1.23		0.5 years

(1) The aggregate intrinsic value of the 4,765,640 and 4,865,640 outstanding and exercisable warrants at March 31, 2020 and December 31, 2019, respectively, was $0. The intrinsic value is the difference between the closing stock price on March 31, 2020 and December 31, 2019 and the exercise price, multiplied by the number of in-the-money warrants had all warrant holders exercised their warrants on March 31, 2020 and December 31, 2019.