Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.10.0.1
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Dec. 31, 2018
Stock-based Compensation  
Schedule of fair value assumptions for stock-options

The fair value of the stock-options granted during 2018 were determined using the Black Scholes valuation model with the following key assumptions:

  

Date of Grant   May 1, 2018     June 1, 2018  
Number of Stock Options Granted     500,000       67,500,000  
Stock Price   $ 0.065     $ 0.075  
Exercise Price   $ 0.065     $ 0.075  
Expected Life of Options     4.25 years       4.25 years  
Risk Free Rate     2.74 %     2.675 %
Volatility     145.21 %     145.21 %
Summary of stock options activity

The following table summarizes the Company’s stock option activity during the three months ended December 31, 2018:

  

    Number
of Options
    Weighted
Average
Exercise Price
    Weighted Average
Remaining
Contractual Term
(In years)
    Average Intrinsic
Value
 
Outstanding at September 30, 2018     103,500,000       0.0605                  
Granted     —         —                    
Exercised     —         —                    
Cancelled     —         —                    
Outstanding at December 31, 2018     103,500,000     $ 0.0605       3.07       $0.5 million  
Vested and expected to vest     103,500,000     $ 0.0605       3.07       $0.5 million  
Exercisable at December 31, 2018     54,500,000     $ 0.0475       3.07       $0.5 million