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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 %