Stock Options (Tables)

6 Months Ended

Jun. 30, 2017

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

Summary of Stock Options Activity

8. Stock Options

The following table summarizes the continuity of the Company’s stock options:

	Number of options			Weighted average exercise price		Weighted average fair value		Aggregate intrinsic value
Outstanding, December 31, 2016		1,265,000		$	0.14	$	0.11	$	–
Granted		1,600,000			0.18		0.18		–
Exercised		-			-		-		–
Expired		(250,000	)		0.22		0.19		–
Outstanding, June 30, 2017		2,615,000		$	0.16	$	0.15	$	91,350

Summary of Additional Information Regarding Stock Options

Additional information regarding stock options as of June 30, 2017, is as follows:

		Outstanding						Exercisable
Range of exercise prices		Number of shares		Weighted average remaining contractual life (years)		Weighted average exercise price		Number of shares		Weighted average exercise price
$	0.10		765,000		1.1	$	0.10		765,000	$	0.10
$	0.14		150,000		0.8	$	0.14		150,000	$	0.14
$	0.18		1,500,000		3.7	$	0.18		1,500,000	$	0.18
$	0.19		100,000		2.7	$	0.19		100,000	$	0.19
$	0.28		100,000		1	$	0.28		50,000	$	0.28
			2,615,000		1.7	$	0.16		2,565,000	$	0.16

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair values for stock options granted during the period have been estimated using the Black-Scholes option pricing model assuming no expected dividends and the following weighted average assumptions:

	2017
Risk-free interest rate		1.7	%
Expected life (in years)		3.9
Expected volatility		298	%
Dividend yield		0	%