WARRANTS (Tables)

9 Months Ended

Sep. 30, 2018

Warrants

Schedule of common stock warrants outstanding

The following table summarizes information about common stock warrants outstanding at September 30, 2018:

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	8.09	$0.01	277,774	$0.01
$0.55	283,636	4.11	$0.55	283,636	$0.55
$0.60	75,000	4.59	$0.60	75,000	$0.60
$0.66	148,133	4.09	$0.66	148,133	$0.66
$0.70	2,125,715	4.12	$0.70	1,768,572	$0.70
$0.75	135,909	3.62	$0.75	135,909	$0.75
$0.80	481,666	1.95	$0.80	481,666	$0.80
$0.87	1,724,138	4.62	$0.87	1,724,138	$0.87
$0.94	7,691,778	4.63	$0.94	7,691,778	$0.94
$1.00	280,000	4.19	$1.00	280,000	$1.00
$1.10	759,486	2.93	$1.10	759,486	$1.10
$1.15	1,700,000	4.49	$1.15	1,700,000	$1.15
$1.30	993,588	4.54	$1.30	993,588	$1.30
$1.35	1,111,111	4.62	$1.35	1,111,111	$1.35
$2.20	625,000	4.32	$2.20	625,000	$2.20
$2.25	112,500	4.32	$2.25	112,500	$2.25
$2.50	162,500	4.32	$2.50	162,500	$2.50
$0.01 - $2.50	18,727,620	4.43	$1.01	18,330,791	$1.02

Schedule of option pricing

The Company utilized the Black-Scholes option pricing model and the assumptions used during the nine months ended September 30, 2018 and 2017:

	2018	2017
Weighted average risk-free interest rate	2.41% — 2.94%	1.42% — 2.01%
Weighted average life (in years)	4.8	4.9
Volatility	124.8% — 138.4%	98.5% — 107.5%
Expected dividend yield	0%	0%
Weighted average grant-date fair value per share of warrants granted	$                       0.79	$                     0.41