NOTE 7 - STOCK OPTIONS

3 Months Ended

Mar. 31, 2016

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

NOTE 7 - STOCK OPTIONS

NOTE 7 – STOCK OPTIONS

On March 31, 2016, the Company had convertible promissory notes entitled to be converted at a discount to market price. As a result, the existing 8,450,000 exercisable options shall be reclassified from equity to liabilities. Please refer to Note 6 for further discussion.

No stock options were issued during the three months ended March 31, 2016 and no stock options were exercised during the three months ended March 31, 2016.

No stock options were issued during the three months ended March 31, 2015 and no stock options were exercised during the three months ended March 31, 2015.

On January 23, 2015 we entered into an agreement with the Class C note holders who held four million five hundred thirty five thousand seven hundred and fourteen warrants to purchase our common stock. The settlement agreement, among other things, cancelled all warrants we have previously issued to them.

Stock Warrants and Options
Stock warrants/options outstanding and exercisable on March 31, 2016 are as follows:
Exercise Price per Share		Shares Under Option/warrant		Remaining Life in Years
	Outstanding
$	0.19		200,000		1.75
$	0.155		200,000		2.75
$	0.14		250,000		2.75
$	0.115		300,000		1.50
$	0.11		300,000		4.25
$	0.03		300,000		4.25
$	0.070		7,500,000		1.50
$
	Exercisable
$	0.19		200,000		1.75
$	0.155		200,000		2.75
$	0.14		250,000		2.75
$	0.115		300,000		1.50
$	0.070		7,500,000		1.50