Stockholders' Equity |
9 Months Ended |
|---|---|
Sep. 30, 2015 | |
| Stockholders' Equity Note [Abstract] | |
| Stockholders' Equity |
Note 4 – Stockholders’ Deficit
Common Stock and Warrant Offering
On September 17, 2015, the Company issued an aggregate of 220,000 shares of common stock at $0.50 per unit to investors for aggregate gross proceeds of $110,000. In connection with the purchases, the Company issued three-year warrants to purchase an aggregate of 220,000 shares of common stock at an exercise price of $2.00 per share. The warrants had an aggregate grant date fair value of $54,010, which was computed using the following assumptions: expected volatility of 282%, risk-free rate of 1.00%, expected term of 3.00 years, and expected dividends of 0.00%.
Stock Warrants
See Note 4 – Stockholders’ Deficit – Common Stock and Warrant Offering for details associated with the issuance of warrants during the nine months ended September 30, 2015. The weighted average estimated fair value of the warrants granted during the three and nine months ended September 30, 2015 was $0.25 per share.
As of September 30, 2015, warrants to purchase an aggregate of 220,000 shares of common stock at an exercise price of $2.00 per share were outstanding and exercisable. The warrants had a weighted average remaining life of 2.97 years and had no intrinsic value.
Stock-Based Compensation
On January 15, 2015, the Company’s Board of Directors approved the issuance of 250,000 and 150,000 shares of the Company’s common stock to the Company’s then-Chief Executive Officer, plus the Secretary, respectively. The common stock had de minimus issuance date fair value. |