Subsequent Events

12 Months Ended

Dec. 31, 2015

NOTE 12 – Subsequent Events

The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and determined there are the following items to disclose:

On January 10, 2016, a warrant to purchase 2,187,500 shares of common stock at an exercise price of $0.08 per share expired.

In February 2016, the Company issued 62,500 shares of common stock to a new employee, valued at $0.0482 per share, or $3,012.50, and granted to such employee a stock option to purchase 187,500 shares of Company common stock, at an exercise price equal to $0.0482 per share, which was the closing market price of the Company's common stock on February 16, 2016 (i.e., the date of grant), subject to time-based vesting restrictions. The option has a ten-year term and was granted under the 2013 Plan.

In March 2016, the Company granted to two newly hired employees stock options to purchase an aggregate of 2,000,000 shares of Company common stock, at an exercise price equal to $0.0563 per share, which was the closing market price of the Company's common stock on March 14, 2016 (i.e., the date of grant), subject to time-based vesting restrictions. The options have a ten-year term and were granted under the 2013 Plan.