Quarterly report pursuant to Section 13 or 15(d)

Stockholders Equity (Deficit) (Tables)

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Stockholders Equity (Deficit) (Tables)
9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
Schedule of the allocation of stock-based compensation

The stock-based compensation expense recorded was allocated as follows:

 

 

      Period from     Three Months     Nine Months  
      Inception June 20, 2014     Ended     Ended  
      to September 30, 2014     September 30, 2015     September 30, 2015  
  Operations and development costs         $ 38,337     $ 70,468  
  Business development and management costs           54,767       104,237  
  Total         $ 93,104     $ 174,705  
Schedule of assumptions used in the black-scholes option-pricing model

The following assumptions were used in the Black-Scholes-Merton pricing model to estimate the fair value of the warrants.

 

 

  Expected stock volatility 80%
  Risk free interest rate 1.57% - 1.64%
  Expected years until exercise 5.0    
  Dividend yield 0.00%

 

The following assumptions were used in the Black-Scholes-Merton option pricing model to estimate the fair value of the awards granted during the nine-month period ended September 30, 2015.

 

 

  Expected stock volatility 80%
  Risk free interest rate 1.32% - 1.75%
  Expected years until exercise 3.5    
  Dividend yield 0.00%

Schedule of stock option activity

The following table summarizes the stock option activity for the nine months ended September 30, 2015.

 

           
                Weighted Average        
                Exercise price     Weighted-Average  
        Number of Shares     Per share     Remaining Term  
  Outstanding as of December 31, 2014              
      Granted       680,235     $ 3.77       4.6 years  
      Forfeited       (25,455 )   $ 3.56        
  Outstanding as of September 30, 2015       654,780     $ 3.78       4.6 years  
  Vested and exercisable as of September 30, 2015