Shareholders' Deficit

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Deficit

4. Shareholders’ Deficit

Common Stock

During the three months ended March 31, 2016, holders of Convertible Debentures with a face value of $72,877 and accrued interest of $2,935 converted their debentures into 236,266,584 shares of common stock. In addition, associated with these debentures, the Company recorded a gain on extinguishment of debt of $1,166.

Warrants

During the three months ended March 31, 2016, in conjunction with the sale of Convertible Debentures, the Company issued five year common stock purchase warrants to acquire up to 15,000,000 shares to holders of the Debentures. These warrants have an exercise price of $0.02 per share.

In March 2016, the Company issued a warrant exercisable into up to 1,000,000 shares of common stock in exchange for services provided by a consultant. The value of these warrants, $1,652, was determined using the Black-Sholes Option pricing model and was included as non-cash expenses and additional paid-in capital during the three months ended March 31, 2016.

The balance of all warrants outstanding as of March 31, 2016 is as follows:

			Weighted
			Average
			Exercise
	Warrants		Price
Outstanding at January 1, 2016		116,875,170	$	0.08
Granted		16,000,000	$	0.02
Cancelled		-	$	-
Exercised		-	$	-
Outstanding at March 31, 2016		132,875,170	$	0.08
Exercisable at March 31, 2016		132,875,170	$	0.08

Stock Options

Options outstanding as of March 31, 2016 are as follows:

			Weighted Average		Weighted Average		Aggregate
			Exercise Price		Remaining Contractual		Intrinsic
	Options		Per Share		Term (years)		Value (1)
Outstanding at January 1, 2016		34,168,800	$	0.02		8.03
Granted		-	$	-		-
Cancelled		-	$	-		-
Exercised		-	$	-		-
Outstanding at March 31, 2016		34,168,800	$	0.02		7.79	$	-
Exercisable at March 31, 2016		21,394,089	$	0.02		7.79	$	-
Weighted average fair value of options granted during the period		-	$	-

(1) These amounts represent the excess, if any, between the exercise price and $0.0042, the closing market price of the Company’s common stock on March 31, 2016 as quoted on the Over-the-Counter Bulletin Board under the symbol “SCIE”.

At March 31, 2016, total unrecognized estimated employee compensation cost related to non-vested stock options granted prior to that date is $293,327, which we expect to be recognized over the next four years.