Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION (Tables)

v3.5.0.2
STOCK BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Black-Scholes assumptions used in the valuation of the options issued

The table summarizes the Black-Scholes assumptions used in the valuation of the options issued:

 

    May 1, 2015  
       
Expected dividend yield     0.00 %
Expected stock-price volatility     35.6 %
Risk-free interest rate     1.87 %
Expected term of options (years)     6  
Stock price   $ 0.25  
Exercise price   $ 0.005  

Schedule of options outstanding and changes during the period

The following represents a summary of the Options outstanding at June 30, 2016 and changes during the period then ended:

 

          Weighted Average     Aggregate  
    Options     Exercise Price     Intrinsic Value  
Outstanding at January 1, 2015     -     $ -     $ -  
Granted     10,000,000       0.005       2,450,000  
Exercised     -       -       -  
Expired/Forfeited     -       -       -  
Outstanding at January 1, 2016     10,000,000 $     0.005     $ 2,450,000  
Granted     -       -       -  
Exercised     -       -       -  
Expired/Forfeited     -       -       -  
Outstanding at June 30, 2016     10,000,000     $ 0.005     $ 2,450,000  
Exercisable at June 30, 2016     -     $ -     $ -  
Expected to be vested     10,000,000     $ 0.005     $ -