Annual report pursuant to Section 13 and 15(d)

Equity (Tables)

v3.19.3
Equity (Tables)
12 Months Ended
Dec. 31, 2018
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock Purchase Warrants Issued and Outstanding

Continuity of the Company’s common stock purchase warrants issued and outstanding is as follows:

 

    Warrants     Weighted average exercise price  
Outstanding at year ended December 31, 2016     16,825,527       0.26  
Granted     19,896,670       0.19  
Exercised     (1,635,000 )     0.07  
Expired            
Outstanding at year ended December 31, 2017     35,087,197     $ 0.24  
Granted     24,829,666       0.11  
Exercised     (3,910,000 )     0.09  
Expired     (4,940,000 )     0.10  
Outstanding at quarter ended December 31, 2018     51,066,864       0.20  
Schedule of Warrants Issuances During Period

The table below summarizes warrant issuances during the years ended December 31, 2018 and 2017:

 

   

Year ended

December 31,

 
    2018     2017  
Warrants granted:                
Board of directors and advisory board service     7,750,000       3,207,500  
Private placements     5,312,500       2,708,336  
Pursuant to termination agreements     5,250,000        
Pursuant to financing arrangements     3,810,000        
Pursuant to consulting agreements     2,000,000       50,000  
Pursuant to acquisition of Bow Energy Ltd., a related party     368,000        
Deferred salary – CEO, CFO     339,166       134,167  
Conversion of debt           10,400,000  
Providing bond related collateral           2,250,000  
Performance bonus – President           666,667  
Rick Wilber loan           480,000  
Total     24,829,666       19,896,670  
Schedule of Fair Value of Assumptions

Expected life was determined based on historical exercise data of the Company.

 

    December 31, 2018     December 31, 2017  
Risk-free interest rate     2.39 %     1.44% - 1.98 %
Expected life     1.0 - 3.0 years       3.0 - 5.0 years  
Expected dividend rate     0 %     0 %
Expected volatility     274% - 283 %     309% - 321 %