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Stockholders' Deficiency
 6 Months Ended
Jun. 30, 2016
Equity:  
Stockholders' Deficiency

Note 6 – Stockholders’ Deficiency

 

Warrants

 

A summary of warrants issued, exercised and expired during the six months ended June 30, 2016 is as follows:

 

    Shares   Weighted
Average
Exercise Price		  

Aggregate

Intrinsic

Value

Balance at December 31, 2015   4,480,000   $   .58   $    45,000
Issued   900,000   .11   -
Expired   (1,055,000)      (1.05)   -
Balance at June 30, 2016   4,325,000   $   .37   $    45,000

 

The warrant for the purchase of 900,000 shares of common stock was issued in June 2016 to a stockholder at an exercise price of $0.11 per share in consideration for utilizing facility space from January 2013 to December 2015. The fair market value of the warrant was determined to be $0.08 per share, or $72,000, which is included in the general and administrative expenses as stock compensation expense.