OPTIONS AND WARRANTS
|3 Months Ended|
Jun. 30, 2016
|OPTIONS AND WARRANTS [Text Block]||
NOTE 9 – OPTIONS AND WARRANTS
Stock option awards
On January 29, 2016, the Company granted a total of 1,310,000 stock options to certain employees. The stock options are exercisable at the exercise price of $0.52 per share for a period of 7.6 years from the date of grant and vested upon the date of grant.
On January 29, 2016, the Company granted a total of 3,000,000 stock options Steven A. Nickolas and Richard A. Wright ( 1,500,000 stock options to each). The stock options are exercisable at the exercise price of $0.52 per share for a period of 7.6 years from the date of grant and vested upon the date of grant.
On March 4, 2016, the Company completed the offering and sale of an aggregate of 9,000,000 shares of our common stock the offering included warrants to purchase an aggregate of 4,500,000 shares of our common stock, at an exercise price of $0.50 per share for a period of two years from the date of issuance.
For the three months ended June 30, 2016 and June 30, 2015 the Company has recognized compensation expense of $0 and $12,912 respectively, on the stock options granted that vested. The fair value of the unvested shares is $0 as of June 30, 2016. The aggregate intrinsic value of these options was $0 at June 30, 2016. Stock option activity summary covering options is presented in the table below:
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details.
No definition available.