10. Stockholders' deficit

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

10. Stockholders' deficit

10. Stockholders’ deficit

a)  Common shares Authorized

The Company has the authority to issue to 500,000,000 common shares at a par value of $0.01 per share.

Issued and outstanding

The Company has a total of 47,738,855 common shares with a par value of $0.01 each, issued and outstanding as of March 31, 2016 and December 31, 2015.

b) Preferred shares Authorized

The Company has the authority to issue 3,000,000 series A convertible preferred shares and 10,000,000 Series B convertible preferred shares with a par value of $0.01 per share.

Issued and outstanding

The Company had no issued and outstanding preferred shares as at March 31, 2016 and December 31, 2015.

c)  Warrants

No warrants were issued or exercised for the period under review. Warrants over 4,500,000 shares of common stock expired on January, 19, 2016.

The movement in warrants outstanding is summarized below:

	Number of warrants outstanding			Weighted average exercise price per share
Outstanding at January 1, 2015		6,300,000		$	0.143
Granted		—			—
Cancelled/forfeited		—			—
Exercised		—			—
Outstanding at December 31, 2015		6,300,000			0.143
Granted		—			—
Cancelled/forfeited		(4,500,000	)		0.150
Exercised		—			—
Outstanding at March 31, 2016	$	1,800,000		$	0.126

The following table summarizes information about warrants outstanding at March 31, 2016

Exercise Price		Number of warrants		Weighted average remaining life		Weighted average exercise price
$	0.003		300,000		*	$	0.003
$	0.150		1,500,000		0.72		0.150
			1,800,000			$	0.126

* In terms of an agreement entered into with an investor relations company, 300,000 warrants were to be issued as part of the Investor Relations Agreement. These warrants have not been issued as yet, therefore the warrant terms are uncertain.

As of March 31, 2016 the 6,300,000 warrants were all vested, there were no unrecognized compensation costs related to these warrants and the intrinsic value of the warrants as of March 31, 2016 is $8,001.

d)    Stock options

Our board of directors adopted the GreeneStone Healthcare Corporation 2013 Stock Option Plan (the “Plan”) to promote our long-term growth and profitability by (i) providing our key directors, officers and employees with incentives to improve stockholder value and contribute to our growth and financial success and (ii) enable us to attract, retain and reward the best available persons for positions of substantial responsibility. A total of 10,000,000 shares of our common stock have been reserved for issuance upon exercise of options granted pursuant to the Plan. The Plan allows us to grant options to our employees, officers and directors and those of our subsidiaries; provided that only our employees and those of our subsidiaries may receive incentive stock options under the Plan. We have granted a total of 480,000 options as of March 31, 2016 under the Plan.

No options were issued, exercised or cancelled for the period under review.

The movement in options outstanding is summarized below.

	Number of options outstanding		Weighted average exercise price per share
Outstanding at January 1, 2015		480,000	$	0.12
Granted		—		—
Cancelled/forfeited		—		—
Exercised		—		—
Outstanding at December 31, 2015		480,000		0.12
Granted		—		—
Cancelled/forfeited		—		—
Exercised		—		—
Outstanding at March 31, 2016	$	480,000	$	0.12

The following table summarizes information about options outstanding at March 31, 2016.

Exercise Price		Number of options outstanding		Number of options exercisable		Weighted average remaining life		Weighted average exercise price
$	0.12		480,000		340,000		3.59	$	0.12

The Company agreed to issue Stock options to a former officer vesting over a 24-month period commencing on November 1, 2014 expiring on October 31, 2019, a formal option agreement has not been issued as yet, as such the terms of these options are uncertain.

As of March 31, 2016 there was no unrecognized compensation costs related to these options and the intrinsic value of the options is $0.