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Stock Options And Warrants (Tables)
12 Months Ended
Dec. 31, 2020
Stock Options And Warrants Tables  
Summary of Fair Value Assumptions of Options

The fair value of options granted during the year ended December 31, 2020 and 2019, were determined using the Black Scholes method with the following assumptions:

 

    Year Ended   Year Ended
    December 31, 2020   December 31, 2019
Risk free interest rate     1.86 %     —    
Stock volatility factor     272 %     —    
Weighted average expected option life     5 years       —    
Expected dividend yield     0 %     —    

 

Summary of Stock Option Activity

A summary of the Company’s stock option activity and related information follows:

 

    Year Ended
December 31, 2020
  Year Ended
December 31, 2019
        Weighted       Weighted
        average       average
        exercise       exercise
    Options   price   Options   price
Outstanding - beginning of year     150,275,799     $ 0.0160       151,475,799     $ 0.017  
Granted     300,000,000     $ 0.0018       —       $ —    
Exercised     —       $ —         —       $ —    
Forfeited     (20,600,000 )   $ 0.04       (1,200,000 )   $ 0.050  
Outstanding - end of year     429,675,799     $ 0.0051       150,275,799     $ 0.016  
Exercisable at the end of year     223,165,297     $ 0.0081       141,466,119     $ 0.015  
Weighted average fair value of                                
 options granted during the year           $ 568,300             $ —    

 

Summary of Weighted Average Remaining Contractual Life of Options Outstanding

The weighted average remaining contractual life of options outstanding, as of December 31, 2020 was as follows:

 

        Weighted
        Average
    Number of   remaining
Exercise   options   contractual
prices   outstanding   life (years)
         
$ 0.0150       35,000,000       1.65  
$ 0.0131       60,000,000       1.09  
$ 0.0130       15,000,000       1.22  
$ 0.0100       6,675,799       1.58  
$ 0.0053       12,500,000       1.62  
$ 0.0040       500,000       0.78  
$ 0.0019       283,000,000       4.05  
$ 0.0018       17,000,000       4.42  
          429,675,799          

 

Summary of Fair Value of Warrants

The fair value of warrants granted during the year ended December 31, 2020 and 2019, were determined using the Black Scholes method with the following assumptions:

 

    Year Ended   Year Ended
    December 31, 2020   December 31, 2019
Risk free interest rate     0.40 - 0.42 %     1.86 %
Stock volatility factor     335.7 - 337.1 %     272 %
Weighted average expected warrant life     5 years       10 years  
Expected dividend yield     0 %     0 %

 

Summary of Company’s Warrant Activity

A summary of the Company’s warrant activity and related information follows:

 

    Year Ended
December 31, 2020
  Year Ended
December 31, 2019
        Weighted       Weighted
        average       average
        exercise       exercise
    Warrants   price   Warrants   price
Outstanding - beginning of period     10,000,000     $ 0.007       —       $ —    
Issued     10,912,852     $ 0.007       10,000,000     $ 0.007  
Exercised     —       $ —         —       $ —    
Forfeited     —       $ —         —       $ —    
Outstanding - end of period     20,912,852     $ 0.007       10,000,000     $ 0.007  
Exercisable at the end of period     20,912,852     $ 0.007       10,000,000     $ 0.007  
Weighted average fair value of                                
 warrants granted during the period           $ 98,343             $ 67,000  

 

Summary of Weighted Average Remaining Contractual Life of Warrants Outstanding

The weighted average remaining contractual life of warrants outstanding, as of December 31, 2020 was as follows:

 

        Weighted
        Average
    Number of   remaining
Exercise   warrants   contractual
prices   outstanding   life (years)
$ 0.0118       2,423,269       4.81  
$ 0.0072       989,583       4.95  
$ 0.0067       10,000,000       8.62  
$ 0.0050       6,000,000       4.81  
$ 0.0050       1,500,000       4.95  
          20,912,852