Note 6 - Shareholders' Equity | NOTE 6 SHAREHOLDERS EQUITY Common shares issued for Services During the three months ended December 31, 2017, the Company issued 120,000 shares of its common stock valued at $21,000 for services provided by accounting and PSI consultants. The shares were valued at the trading price of the common stock at the date of issuance. Stock Options On December 22, 2010, effective retroactively as of June 30, 2010, the Companys board of directors approved the adoption of the 2010 Non-Qualified Stock Option Plan (2010 Option Plan) by unanimous consent. The 2010 Option Plan was initiated to encourage and enable officers, directors, consultants, advisors and key employees of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. A total of 7,500,000 of the authorized shares of the Companys common stock may be subject to, or issued pursuant to, the terms of the plan. The table below summarizes the Companys stock option activities for the three months ended December 31, 2017: Number of Option Shares Exercise Price Range Per Share Weighted Average Exercise Price Fair Value at Date of Grant Balance, September 30, 2017 6,822,500 $ 0.10 - 2.00 $ 0.51 $ 1,865,628 Granted - - - - Cancelled - - - - Exercised - - - - Expired - - - - Balance, December 31, 2017 6,822,500 $ 0.10 2.00 $ 0.51 $ 1,865,628 Vested and exercisable, December 31, 2017 6,822,500 $ 0.10 2.00 $ 0.51 $ 1,865,628 Unvested, December 31, 2017 - $ - $ - $ - The aggregate intrinsic value for option shares outstanding at December 31, 2017 was $119,688. The following table summarizes information concerning outstanding and exercisable options as of December 31, 2017: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $0.10 - 0.39 3,300,000 3.31 $ 0.17 3,300,000 3.31 $ 0.17 0.40 - 0.99 2,122,500 1.30 0.40 2,122,500 1.30 0.40 1.00 - 1.99 750,000 3.00 1.00 750,000 3.00 1.00 2.00 650,000 3.00 2.00 650,000 3.00 2.00 $0.01 - 2.00 6,822,500 2.62 $ 0.51 6,822,500 2.62 $ 0.51 As of December 31, 2017, there were 677,500 shares of stock options remaining available for issuance under the 2010 Plan. Stock Warrants During the three months ended December, 31, 2017, warrants to purchase 924,286 shares of the Companys common stock were exercised for $110,914. The table below summarizes the Companys warrants activities for the three months ended December 31, 2017: Number of Warrant Shares Exercise Price Range Per Share Weighted Average Exercise Price Fair Value at Date of Issuance Balance, September 30, 2017 64,161,304 $ 0.12 - 1.00 $ 0.24 $ 2,151,219 Granted - - - - Cancelled - - - - Exercised (924,286) 0.12 0.12 - Expired (520,999) 0.45 0.45 - Balance, December 31, 2017 62,716,019 $ 0.12 - 1.00 $ 0.24 $ 2,151,219 Vested and exercisable, December 31, 2017 62,716,019 $ 0.12 - 1.00 $ 0.24 $ 2,151,219 Unvested, December 31, 2017 - $ - $ - $ - The aggregate intrinsic value for warrant shares outstanding December 31, 2017 was $1,811,221. The following table summarizes information concerning outstanding and exercisable warrants as of December 31, 2017: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Average Remaining Contractual Life (in years) Weighted Average Exercise Price Number Exercisable Average Remaining Contractual Life (in years) Weighted Average Exercise Price $0.12 0.20 43,006,773 2.27 $ 0.15 43,006,773 2.27 $ 0.15 0.21 0.49 15,209,508 1.17 0.34 15,209,508 1.17 0.34 0.50 1.00 4,499,738 0.64 0.75 4,499,738 0.64 0.75 $0.12 1.00 62,716,019 1.89 $ 0.24 62,716,019 1.89 $ 0.24 |