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Stockholders' deficit (Tables)

6 Months Ended

Jun. 30, 2017

Equity [Abstract]

Schedule of warrants outstanding

The fair value of Warrants awarded during the six months ended June 30, 2017 were valued at $94,620 using the Black Scholes pricing model utilizing the following weighted average assumptions:

		Six months ended June 30, 2017
Calculated stock price		$	0.04
Risk free interest rate			1.48	%
Expected life of warrants (years)			3 years
expected volatility of underlying stock			398	%
Expected dividend rate			0	%

The movements in warrants is summarized as follows:

			No. of shares				Exercise price per share				Weighted average exercise price

Outstanding January 1, 2016				6,300,000				$0.0033 to $0.03			$	0.14
Granted				19,337,409				0.03				0.0300
Forfeited/cancelled				(6,000,000	)			0.15				0.1500
Exercised				—				—				—
Outstanding December 31, 2016				19,637,409				$0.0033 to $0.03				0.0300
Granted				2,366,666				0.03				0.0300
Forfeited/cancelled				—				—				—
Exercised				—				—				—
Outstanding June 30, 2017				22,004,075				$0.033 to $0.03			$	0.0300

The following table summarizes information about warrants outstanding at June 30, 2017:

			Warrants outstanding												Warrants exercisable
Exercise price			No. of shares				Weighted average remaining years				Weighted average exercise price				No. of shares				Weighted average exercise price

$0.0033				300,000				*								300,000
$0.03				21,704,075				2.69								21,704,075

				22,004,075				2.69			$	0.03				22,004,075			$	0.03

*

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.

Schedule of options outstanding

The following table summarizes information about options outstanding as of June 30, 2017.

			Options outstanding												Options exercisable
Exercise price				No. of shares			Weighted average remaining years				Weighted average exercise price				No. of shares				Weighted average exercise price

$0.12				480,000				2.34								480,000

				480,000				2.34			$	0.12				480,000			$	0.12

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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