CAPITAL TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2016

Capital Transactions Tables

Equity Compensation Plan Information

At December 31, 2016, the 48,805,000 outstanding options had an aggregate intrinsic value of $1,959,000.

Equity Compensation Plan Information
Plan category	Number of securities to be issued upon exercise of outstanding options, warrants and rights (a)		Weighted-average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
Equity compensation plans approved by security holders		—		—		—
Equity compensation plans not approved by security holders		—		—		23,369,763
Total		—		—		23,369,763

Summary of Company,s stock option activity

	Number of Options			Exercise Price Per Share		Weighted Average Exercise Price		Number of Options Exercisable
Outstanding as of December 31, 2014		40,480,000							40,480,000
Granted		3,575,000		$	0.05	$	0.05		3,575,000
Exercised		(1,200,000	)						(1,200,000	)
Expired		-							-
Outstanding as of December 31, 2015		42,855,000							42,855,000
Granted		5,950,000		$	0.06	$	0.04		5,950,000
Exercised		-							-
Outstanding as of December 31, 2016		48,805,000							48,805,000

Exercise prices and weighted-average contractual lives of stock options outstanding

Exercise prices and weighted-average contractual lives of 48,805,000 stock options outstanding as of December 31, 2016 are as follows:

				Options Outstanding				Options Exercisable
Exercise Price		Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
$	0.01		25,000,000		0.67	$	0.01		25,000,000	$	0.01
$	0.05		3,000,000		7.08	$	0.05		3,000,000	$	0.05
$	0.06		2,000,000		7.87	$	0.06		2,000,000	$	0.06
$	0.07		9,250,000		4.31	$	0.07		9,250,000	$	0.07
$	0.08		575,000		3.74	$	0.08		575,000	$	0.08
$	0.14		3,000,000		6.24	$	0.14		3,000,000	$	0.14
$	0.26		30,000		2.95	$	0.26		30,000	$	0.26

Warrants issued at corresponding weighted average exercise price

The Company issued the following warrants at the corresponding weighted average exercise price as of December 31, 2016.

	Warrants		Weighted average Exercise Price
Outstanding as of December 31, 2014		25,243,182	$	0.07
Issued/Vested		3,700,000	$	0.11
Cancelled/Expired		-
Outstanding as of December 31, 2015		28,943,182	$	0.07
Issued/Vested		-		-
Exercised		-		-
Cancelled/Expired		-		-
Outstanding as of December 31, 2016		28,943,182	$	0.07

Date	Number of Warrants		Exercise Price		Contractual Life Remaining	Number of Shares Exercisable
April 2012		6,000,000	$	0.05	3.8 year		6,000,000
January 2014		909,091	$	0.09	2.1 year		909,091
February 2014		9,125,000	$	0.08	2.1years		9,125,000
March 2014		909,091	$	0.09	2.2 years		909,091
August 2014		800,000	$	0.08	2.7 years		800,000
November 2014		7,500,000	$	0.11	2.9 years		7,500,000
March 2015		2,500,000	$	0.12	3.2 years		2,500,000
July 2015		300,000	$	0.05	3.5 years		300,000
August 2015		300,000	$	0.05	3.6 years		300,000
September 2015		300,000	$	0.05	3.7 years		300,000
October 2015		300,000	$	0.05	3.8 years		300,000
		28,943,182					28,943,182