STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2018

Stockholders' Equity:

Schedule of warrant activity

The following is a summary of the Company’s warrant activity for the years ended December 31, 2018 and 2017:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Life
Outstanding at January 1, 2017		51,138,697		$	0.11		2.8 Years
Granted		1,153,846		$	0.14		5.0 Years
Exercised/Cancelled		(4,128,000)		$	0.08
Outstanding at December 31, 2017		48,164,543		$	0.11		2.9 Years
Granted		2,470,267		$	0.14		5.0 Years
Exercised/Cancelled		(4,333,333	)	$	0.05		—
Outstanding at December 31, 2018		46,201,477		$	0.08		1.9 Years

Schedule of black - scholes option-pricing model valuation assumption

The Company determined the grant date fair value of the options granted during the years ended December 31, 2018 and 2017 using the Black Scholes Method and the following assumptions:

	2018	2017
Expected Volatility	79.0% to 93.0%	79.0% to 93.0%
Expected Term	2.5 – 5.9 Years	2.5 – 5.9 Years
Risk Free Rate	2.42% to 3.00%	1.16% to 1.49%
Dividend Rate	0.00%	0.00%

Schedule of outstanding stock options

Activity related to stock options for the years ended December 31, 2018 and 2017 is summarized as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Term (Yrs.)		Aggregate Intrinsic Value
Outstanding as of January 1, 2017		86,925,000		$	0.21		8.7	$	7,698,650
Granted		21,250,000		$	0.11		10.0	$	7,475,000
Forfeited		(4,966,669	)	$	0.08		—	$	—
Outstanding as of December 31, 2017		103,208,331		$	0.19		9.5	$	10,023,400
Granted		6,220,000		$	0.22		10.0	$	2,868,750
Exercised		(3,174,992	)	$	0.13		—	$	—
Outstanding as of December 31, 2018		106,253,339		$	0.20		8.3	$	11,457,291
Exercisable as of December 31, 2018		92,925,694		$	0.20		7.4	$	3,316,208

Schedule of stock option

The following table summarizes stock option information as of December 31, 2018:

Exercise Price		Outstanding		Weighted Average Contractual Life (Yrs.)		Exercisable
$	0.0001		3,500,000		6.8		3,500,000
$	0.05		32,783,339		7.6		28,314,583
$	0.1		27,200,000		7.8		24,977,778
$	0.12		970,000		9.8		—
$	0.13		250,000		8.8		83,333
$	0.15		2,800,000		6.9		2,800,000
$	0.22		2,750,000		9.0		750,000
$	0.25		2,500,000		8.9		500,000
$	0.26		500,000		9.3		—
$	0.29		1,000,000		8.3		—
$	0.4		1,000,000		7.2		1,000,000
$	0.45		31,000,000		6.9		31,000,000
					7.4
			106,253,339				92,925,694