Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

EQUITY (Tables)

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Schedule of common stock warrants issued and outstanding

Summary information regarding common stock warrants granted and outstanding as of June 30, 2018, is as follows:

	Warrants			Weighted Average Exercise Price		Weighted average remaining contractual life (years)
Outstanding at year ended December 31, 2017		35,087,198		$	0.24		2.15
Granted		14,714,666			0.11		2.32
Exercised		(2,600,000	)		0.10		—
Expired		—			—		—
Outstanding at six months ended June 30, 2018		47,201,864		$	0.21		1.94

Schedule of warrants granted during the period

The table below summarizes the warrants granted during the six month period ended June 30, 2018:

	Number of Warrants		Exercise Price
Board of Director Service		3,750,000	$	0.10
Pursuant to acquisition of Bow Energy Ltd., a related party		368,000	$	0.18
Note payable issuance		2,320,000	$	0.10
Private placements		2,187,500	$	0.20
Pursuant to employment termination agreement		3,000,000	$	0.10
Pursuant to consulting agreement		2,000,000	$	0.10
Pursuant to employment termination agreement		250,000	$	0.20
Deferred salary – CEO, former CFO		339,166	$	0.14
Pursuant to settlement of loan from director (Joel Oppenheim)		500,000	$	0.14
		14,714,666

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details