Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Incentive Plan and Stock-based Compensation

The Company’s activity in restricted shares was as follows for the six months ended June 30, 2017:

	Number of shares			Weighted average grant date fair value
Non–vested at December 31, 2016		1,000,000		$	2.31
Granted		2,150,000			0.93
Vested		(650,000	)		1.79
Forfeited		–			–
Non–vested at June 30, 2017		2,500,000		$	1.26

Schedule of Stock Options Activity

The following is a summary of the Company’s stock option activity for the six months ended June 30, 2017:

	Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life		Intrinsic Value
Outstanding – January 1, 2017		6,000,000	$	0.71	$	1.28
Granted		–
Exercised		–
Forfeited/Cancelled		–
Outstanding – June 30, 2017		6,000,000	$	0.71	$	1.28		4.42	$	3,970
Exercisable – June 30, 2017		2,000,000	$	0.71	$	1.28		4.42	$	1,323

Summary of Warrant Outstanding

The following table summarizes information about shares issuable under warrants outstanding at June 30, 2017:

	Warrant shares outstanding		Weighted average exercise price		Intrinsic Value
Outstanding at January 1, 2017		100,000	$	3.75
Issued		11,616,819		0.83
Exercised		–
Expired		–
Outstanding at June 30, 2017		11,716,819	$	0.85	$	6,331
Exercisable at June 30, 2017		11,716,819	$	0.85	$	6,331