Warrants and Stock Options |
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| Warrants and Stock Options |
NOTE 7 – WARRANTS AND STOCK OPTIONS
During the nine months ended September 30, 2017, the Company issued warrants to purchase 100,000 shares of preferred stock and 873,898 shares of common stock; and options to purchase 200,000 shares of common stock. The Company recorded non-cash equity compensation of approximately $285,000 representing the estimated fair value of these instruments on the grant date, calculated using a binomial pricing model.
During the three months ended September 30, 2017, options to purchase 4.8 million shares of common stock were exercised, at exercise prices ranging from $0.010 to $0.025. The issuance of shares associated with these exercises occurred after the quarter end, and accordingly the stock is reflected as Common Stock Subscribed But Not Yet Issued within the September 30, 2017 balance sheet.
Stock options outstanding and exercisable as of September 30, 2017 were:
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