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Settlement and Payments	9 Months Ended
Sep. 30, 2018
Settlement And Payments
Settlement and Payments	5. Settlement and Payments On April 5, 2018, the Company issued 185,388 common stock purchase options to Robert N. Weingarten, the Company’s former Chief Financial Officer and 125,000 common stock purchase options to Pharmaland Executive Consulting Services LLC (“Pharmaland”) exercisable until April 5, 2023 at $1.12 per share of common stock which was the closing price of the common stock as quoted on the OTC QB on that date. All of these common stock purchase options vested immediately. Each of the common stock purchase options were valued on the issuance date based upon a Black-Scholes valuation method at $1.081. The assumptions used for the Black Scholes calculation were a volatility of 186.07%, a risk-free rate of 2.64%, a zero-dividend yield and a five-year period to option maturity. Mr. Weingarten simultaneously with the issuance of the common stock purchase options, agreed to forgive $200,350 of accrued compensation owed to him. The value of the options granted to Mr. Weingarten was $200,404. The resulting loss on extinguishment of the accrued liability was $54. The common stock purchase options issued to Pharmaland was in partial payment of accounts payable owed. The common stock purchase options issued to Pharmaland had a value of $135,125 and the accounts payable paid was $124,025. The loss on extinguishment of this accounts payable was $11,100. The Company continues to explore ways to reduce its indebtedness, and might in the future enter additional settlements of potential claims or payments with respect to outstanding debts. As of September 30, 2018 and December 31, 2017, total stockholders’ deficiency was $5,359,154 and $4,355,384, respectively.

Settlement and Payments

9 Months Ended

Sep. 30, 2018

5. Settlement and Payments

On April 5, 2018, the Company issued 185,388 common stock purchase options to Robert N. Weingarten, the Company’s former Chief Financial Officer and 125,000 common stock purchase options to Pharmaland Executive Consulting Services LLC (“Pharmaland”) exercisable until April 5, 2023 at $1.12 per share of common stock which was the closing price of the common stock as quoted on the OTC QB on that date. All of these common stock purchase options vested immediately. Each of the common stock purchase options were valued on the issuance date based upon a Black-Scholes valuation method at $1.081. The assumptions used for the Black Scholes calculation were a volatility of 186.07%, a risk-free rate of 2.64%, a zero-dividend yield and a five-year period to option maturity. Mr. Weingarten simultaneously with the issuance of the common stock purchase options, agreed to forgive $200,350 of accrued compensation owed to him. The value of the options granted to Mr. Weingarten was $200,404. The resulting loss on extinguishment of the accrued liability was $54. The common stock purchase options issued to Pharmaland was in partial payment of accounts payable owed. The common stock purchase options issued to Pharmaland had a value of $135,125 and the accounts payable paid was $124,025. The loss on extinguishment of this accounts payable was $11,100.

The Company continues to explore ways to reduce its indebtedness, and might in the future enter additional settlements of potential claims or payments with respect to outstanding debts. As of September 30, 2018 and December 31, 2017, total stockholders’ deficiency was $5,359,154 and $4,355,384, respectively.