Stockholders' Deficiency (Tables)

12 Months Ended

Dec. 31, 2015

Equity:

Summary of warrants

A summary of warrants issued, exercised and expired during the year ending December 31, 2015 is as follows:

	Shares			Weighted Average Exercise Price			Aggregate Intrinsic Value
Balance at December 31, 2014		5,586,000		$	.99		$	45,000
Issued		25,000			.12			—
Expired		(1,131,000	)		(1.72	)		—
Balance at December 31, 2015		4,480,000		$	.58		$	45,000

Weighted average assumptions

The fair value of each warrant granted for equity and debt raises was determined using the Black-Scholes option pricing model and the following assumptions:

	December 31, 2015
Risk free interest rate		1.37	%
Expected term		5 years
Annualized volatility		90	%
Expected dividends		—