WARRANTS (Tables)

9 Months Ended

Sep. 30, 2017

Warrants

Schedule of common stock warrants outstanding

The following table summarizes information about common stock warrants outstanding at September 30, 2017:

Outstanding							Exercisable
			Weighted
			Average		Weighted				Weighted
			Remaining		Average				Average
Exercise	Number		Contractual		Exercise		Number		Exercise
Price	Outstanding		Life (Years)		Price		Exercisable		Price
$0.01		317,460		9.09	$	0.01		79,364	$	0.01
$0.55		450,304		5.05	$	0.55		—		—
$0.65		272,727		2.90	$	0.65		—		—
$0.66		1,475,000		4.86	$	0.66		1,475,000	$	0.66
$0.70		2,428,571		4.92	$	0.70		690,476	$	0.70
$0.72		182,003		4.72	$	0.72		—		—
$0.75		244,999		4.69	$	0.75		—		—
$0.80		1,415,128		2.55	$	0.80		1,166,666	$	0.80
$0.90		445,002		3.05	$	0.90		265,000	$	0.90
$1.00		2,002,005		4.68	$	1.00		—		—
$1.10		1,000,000		2.67	$	1.10		—		—
$0.01 - 1.10		10,233,199		4.26	$	0.79		3,676,506	$	0.32

Schedule of option pricing

The Company utilized the Black-Scholes option pricing model and the assumptions used during the nine months ended September 30, 2017:

	September 30, 2017
Weighted average risk free interest rate		1.42% — 2.01	%
Weighted average life (in years)		4.9
Volatility		98.5% — 107.5	%
Expected dividend yield		0	%
Weighted average grant-date fair value per share of warrants granted	$	0.41