Annual report pursuant to Section 13 and 15(d)

15. Derivative Financial Instruments

v3.19.1
15. Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

NOTE 15 – DERIVATIVE FINANCIAL INSTRUMENTS

 

The Company issued one round of warrants related to a debt transaction that were issued on April 19, 2018. These were valued on this date per the signed agreements and issuance on April 19, 2018 In

  

The following table summarizes the Company’s outstanding warrants as of December 31, 2018 and December 31, 2017:

 

    December 31,     December 31,  
    2018     2017  
    Number of shares     Weighted Average Exercise Price    

Number of

shares

    

Weighted

Average

Exercise Price

  
Warrants outstanding, beginning of period     –       –       –       –  
Warrants issued     6,000     $ 1.00       –       –  
Warrants exercised     –       –       –       –  
Warrants outstanding, end of period     6,000     $ 1.00       –       –  
Warrants exercisable, end of period     6,000     $ 1.00       –       –  

 

The weighted-average remaining contractual life for warrants outstanding and exercisable at December 31, 2018 is 4.25 years, and the aggregate intrinsic value of the warrants outstanding and exercisable at December 31, 2018 is $0.

 

In October 2018, for consideration of the loan the Company granted Mr. Lowe an option to purchase 30,000 shares of its common stock at an exercise price of $1.20 per share, which option is exercisable for a period of five (5) years.