XML 35 R23.htm IDEA: XBRL DOCUMENT v3.19.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2018
Warrants and Rights Note Disclosure [Abstract]  
Summary of Estimate the Fair Value of Warrants

The following table summarizes the assumptions used to estimate the fair value of warrants granted during the years ended December 31, 2018 and 2017:

 

    2018     2017  
Expected dividend yield     0 %     0 %
Weighted-average expected volatility     231-632 %     200 %
Weighted-average risk-free interest rate     2.55-2.75 %     1.81-1.84 %
Expected life of warrants     5-8 years       5 years  

Schedule of Outstanding and Exercisable Warrants

The Company’s outstanding and exercisable warrants as of December 31, 2018 and 2017 are presented below:

 

    Number Outstanding     Weighted Average Exercise Price     Contractual Life in Years     Intrinsic Value  
Warrants Outstanding as of December 31, 2016     2,647,446     $ 0.24       4.24     $ 930,751  
Warrants granted     115,650     $ 0.18       5.0       -  
Warrants forfeited     -       -       -       -  
Warrants exercised     (25,000 )   $ 0.01       -       -  
                                 
Warrants Outstanding as of December 31, 2017     2,738,096     $ 0.24       3.28     $ 937,567  
Warrants granted     577,045     $ 0.02       7.11          
Warrants forfeited     (435,000 )     -       -       -  
Warrants exercised     -       -       -       -  
                                 
Warrants Outstanding as of December 31, 2018     2,880,141     $ 0.08       3.74     $ 782,385