Quarterly report pursuant to Section 13 or 15(d)

NOTE 7: STOCKHOLDERS' EQUITY

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NOTE 7: STOCKHOLDERS' EQUITY
9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 7: STOCKHOLDERS’ EQUITY


Common Stock


During May 2018, the Company issued a total of 4,292,829 shares of common stock for officer bonuses valued at $379,916, or $0.09 per share.


During May 2018, the Company issued a total of 376,273 shares of common stock for services valued at $33,300, or $0.09 per share.


During the nine months ended September 30, 2018, the holder of related party convertible debt elected to convert a total of $280,507 in principal into 3,506,333 shares of common stock, or $0.08 per share.


Common Stock Options


A summary of common stock option activity for the three months ended September 30, 2018 is as follows:


           

Weighted

   

Weighted

 
           

Average

   

Average

 
   

Options

   

Exercise Price

   

Remaining Term

 

Outstanding - December 31, 2017

    685,713     $ 4.52       0.78  

Granted

    -       -       -  

Expired

    (514,286

)

    3.69       -  

Exercised

    -       -       -  

Outstanding – September 30, 2018

    171,427     $ 4.08       0.70  
                         

Exercisable – September 30, 2018

    171,427     $ 4.08       0.70  

The intrinsic value of the exercisable options as of September 30, 2018 was $0.


Common Stock Warrants


The following table presents the common stock warrant activity during the three months ended September 30, 2018:


           

Weighted

   

Weighted

 
           

Average

   

Average

 
   

Warrants

   

Exercise Price

   

Remaining Term

 

Outstanding - December 31, 2017

    7,343,192     $ 0.08       2.15  

Granted

    -       -       -  

Forfeited/expired

    -       -       -  

Exercised

    -       -       -  

Outstanding – September 30, 2018

    7,343,192     $ 0.08       1.40  
                         

Exercisable – September 30, 2018

    7,343,192     $ 0.08       1.40  

The intrinsic value of the exercisable warrants as of September 30, 2018 was $188,616.