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Warrants
9 Months Ended
Sep. 30, 2014
Warrants [Abstract]  
WARRANTS

Note 4 – WARRANTS

 

On January 20, 2014, the Company issued 50,000 warrants with an exercise price of $0.125 per share in conjunction with a $5,000 convertible promissory note. The warrants are exercisable at any time for one year following the execution of the agreement.

 

On February 13, 2014, the Company issued 100,000 warrants with an exercise price of $0.125 per share in conjunction with two $5,000 convertible promissory notes. The warrants are exercisable at any time for one year following the execution of the agreement.

 

On March 10, 2014, the Company issued 100,000 warrants with an exercise price of $0.125 per share in conjunction with a $10,000 convertible promissory note. The warrants are exercisable at any time for one year following the execution of the agreement.

 

On April 17, 2014, the Company issued 100,000 warrants with an exercise price of $0.125 per share in conjunction with a $10,000 convertible promissory note. The warrants are exercisable at any time for one year following the execution of the agreement.

 

On May 29, 2014, the Company issued 100,000 warrants with an exercise price of $0.125 per share in conjunction with a $10,000 convertible promissory note. The warrants are exercisable at any time for one year following the execution of the agreement.

 

On July 7, 2014, the Company issued 100,000 warrants with an exercise price of $0.125 per share in conjunction with a $10,000 convertible promissory note. The warrants are exercisable at any time for one year following the execution of the agreement.

 

Outstanding share purchase warrants consisted of the following as of September 30, 2014and December 31, 2013:

 

Expiration Date   Exercise 
price per 
share
    Balance 
December 31, 
2013
    Issued     Exercised     Balance
September 30,
2014
 
November 7, 2014   $ 0.10       1,000,000       -       -       1,000,000  
November 17, 2014   $ 0.125       100,000       -       -       100,000  
January 20, 2015   $ 0.125       -       50,000       -       50,000  
February 13, 2015   $ 0.125       -       100,000       -       100,000  
March 10, 2015   $ 0.125       -       100,000       -       100,000  
April 17, 2015   $ 0.125               100,000               100,000  
May 29, 2015   $ 0.125               100,000               100,000  
July 7, 2015   $ 0.150               100,000               100,000  
Total Warrants Outstanding             1,100,000       550,000       -       1,650,000  
                                         
Weighted average exercise price           $ 0.102     $ 0.125             $ 0.110  
Average remaining contractual term (years)             0.87                       0.42