Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

Equity (Tables)

9 Months Ended

Sep. 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		51,066,864		$	0.20
Granted		10,250,000			0.10
Exercised		(160,000	)		0.10
Expired		(5,510,526	)		0.35
Outstanding at September 30, 2019		55,646,337		$	0.15

Schedule of Warrants Issuances During Period

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

	September 30, 2019		December 31, 2018
Warrants granted:
Board of Directors and Advisory Board service		5,250,000		7,750,000
Private placements		3,750,000		5,312,500
Pursuant to termination agreements		—		5,250,000
Pursuant to financing arrangements		1,250,000		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		10,250,000		24,829,666

Schedule of Fair Value of Assumptions

The warrants were valued using the Black Scholes Option Pricing Model with the range of assumptions outlined below. Expected life was determined based on historical data of the Company.

	September 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	%