14. Stockholders' deficit

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

14. Stockholders' deficit

14. Stockholders’ deficit

Authorized common shares

On June 30, 2012, the Company filed a Certificate of Amendment with the Colorado Secretary of State to increase the aggregate number of shares, which the Company has authority to issue to one hundred million (100,000,000) common shares, issued at $0.01 par value per share from 50,000,000 common shares with par value at $0.01. The amendment was approved by the Colorado Secretary of State in May 2012.

On March 25, 2013 the Company filed a certificate of Amendment with the Colorado Secretary of State to increase the aggregate number of shares which the Company has the authority to issue to five hundred million (500,000,000) common shares, issued at $0.01 par value per share from 100,000,000 common shares with par value at $0.01, to authorize three million (3,000,000) series A convertible preferred shares, par value of $0.01 per share, and to the authorize ten million (10,000,000) series B convertible preferred shares, par value $0.01 per share. Each series B convertible preferred shares is convertible into 10 Common shares. The amendment was approved by the Colorado Secretary of State on March 26, 2013. 

Issued common shares

The Company has a total of 47,738,855 issued and outstanding common shares as at June 30, 2015. At December 31, 2014 to the Company had 46,131,765 issued and outstanding common shares.

The Company issued 300,000 shares of its common stock to satisfy its obligations under an aggregate principal of $8,117 of convertible promissory notes for the six month period ended June 30, 2015.

The Company adjusted previously issued 2,909 common shares pursuant to convertible note conversions to reflect currency exchange differences.

The Company issued 250,000 shares of its common stock as compensation for $25,000 of services for the six month period June 30, 2015.

The Company has a total of 106,000 issued and outstanding series “B” preferred shares as at June 30, 2015. At December 31, 2014 to the Company had nil issued and outstanding series “B” preferred shares.

The holders of the 106,000 Series “B” preferred shares converted their shares into 1,060,000 common shares on April 30, 2015 at a conversion factor of 10:1.

Options

On April 1, 2012, the Company granted 3,600,000 options to the Director of Aftercare at an exercise price of $0.20.  The intrinsic value of these options was recorded as an expense, at the rate of $312,248 per quarter over the life of the options, as they vested. The 3,600,000 options were terminated on May 5, 2014 upon the sale of Aftercare.

On August 15, 2014, the Company granted 300,000 options to the President of its Investor Relations firm at an exercise price of $0.00333.  The $34,418 intrinsic value of these options was recorded as an expense on that date.

On November 1, 2014, the Company granted 480,000 options to its Chief Financial Officer. at an exercise price of $0.12.  The $20,844 intrinsic value of these options was recorded as an expense on that date.

	Number of Options and Warrants		Weighted Average Exercise Price Per Share
Outstanding at December 31, 2014	$	6,780,000	$	0.139
Granted	$	—	$	—
Cancelled/forfeited		—		—
Expired	$	—	$	—
Exercised		—		—
Outstanding at December 31, 2014 and June 30, 2015	$	6,780,000	$	0.139