Stock Options And Warrants (Tables)

3 Months Ended

Mar. 31, 2021

Stock Options And Warrants Tables

Summary of Fair Value Assumptions of Options

The fair value of options granted during the three months ending March 31, 2021 and 2020, were determined using the Black Scholes method with the following assumptions:

	Three months ended			Three months ended
	March 31, 2021			March 31, 2020
Risk free interest rate		0.4	%		1.86	%
Stock volatility factor		337	%		272	%
Weighted average expected option life		5 years			5 years
Expected dividend yield		0	%		0	%

Summary of Stock Option Activity

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

	Three months ended March 31, 2021					Three months ended March 31, 2020
				Weighted				Weighted
				average				average
				exercise				exercise
	Options			price		Options		price
Outstanding - beginning of period		429,675,799		$	0.0052		150,275,799	$	0.016
Granted		368,000,000			0.0068		283,000,000		0.002
Exercised		(10,442,467	)		0.0080		—		—
Forfeited		—			—		—		—
Outstanding - end of period		787,233,332		$	0.0058		433,275,799	$	0.007
Exercisable at the end of period		265,946,574		$	0.0074		163,134,246	$	0.014
Weighted average fair value of
options granted during the period				$	2,502,400			$	509,400

Summary of Weighted Average Remaining Contractual Life of Options Outstanding

The weighted average remaining contractual life of options outstanding, as of March 31, 2021 was as follows:

				Weighted
				Average
		Number of		remaining
Exercise		options		contractual
prices		outstanding		life (years)
$	0.0150		35,000,000		1.40
$	0.0131		60,000,000		0.85
$	0.0130		15,000,000		0.97
$	0.0068		368,000,000		4.77
$	0.0053		10,000,000		1.37
$	0.0019		283,233,332		3.80
$	0.0018		17,000,000		4.18
			787,233,332

Summary of Fair Value of Warrants

The fair value of warrants granted during the three months ended March 31, 2021 and 2020, were determined using the Black Scholes method with the following assumptions:

	Three months ended			Three months ended
	March 31, 2021			March 31, 2020
Risk free interest rate		0.40	%		—
Stock volatility factor		337	%		—
Weighted average expected warrant life		5 years			—
Expected dividend yield		0	%		—

Summary of Company’s Warrant Activity

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

	Three months ended March 31, 2021					Year Ended December 31, 2020
				Weighted				Weighted
				average				average
				exercise				exercise
	Warrants			price		Warrants		price
Outstanding - beginning of period		20,912,852		$	0.007		10,000,000	$	0.007
Issued		240,000,001		$	0.037		10,912,852	$	0.007
Exercised		(10,000,000	)	$	0.007		—	$	—
Forfeited		—		$	—		—	$	—
Outstanding - end of period		250,912,853		$	0.035		20,912,852	$	0.007
Exercisable at the end of period		250,912,853		$	0.035		20,912,852	$	0.007
Weighted average fair value of
warrants granted during the period				$	983,571			$	98,343