Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

v3.21.1
Equity (Tables)
6 Months Ended
Jun. 30, 2019
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 January 1, 2018     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 December 31, 2018     51,066,863     $ 0.20  
Granted     4,500,000       0.10  
Exercised            
Expired     (1,497,498 )     0.08  
Outstanding at June 30, 2019     54,069,365     $ 0.18  
Schedule of Warrants Issuances During Period

The table below summarizes warrant issuances during the six months ended June 30, 2019 and year ended December 31, 2018:

 

    June 30,     December 31,  
    2019     2018  
Warrants granted:                
Board of Directors and Advisory Board service     3,500,000       7,750,000  
Private placements           5,312,500  
Pursuant to termination agreements           5,250,000  
Pursuant to financing arrangements     1,000,000       3,810,000  
Pursuant to consulting agreements           2,000,000  
Pursuant to acquisition of Bow Energy Ltd., a related party           368,000  
Deferred salary – CEO, CFO           339,166  
Total     4,500,000       24,829,666  
Schedule of Fair Value of Assumptions

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

 

    June 30, 2019     December 31, 2018  
Risk-free interest rate     2.39 %     2.39 %
Expected life     2.0 -3.0 years       1.0 - 3.0 years  
Expected dividend rate     0 %     0 %
Expected volatility     274 %     274% - 283 %