Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Deficit) (Tables)

v3.3.1.900
Stockholders' Equity (Deficit) (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of principal assumptions used in the measurement of the fair values of the warrants


Provided below are the principal assumptions used in the measurement of the fair values of the warrants.

 

    Consulting     IPO     O-A     Consulting     Consulting  
    09/08/14     08/05/15     08/13/15     10/31/15     11/02/15  
Fair market value of shares   $ 1.64     $ 5.00     $ 5.36     $ 5.00     $ 4.89  
Assumed exercise price   $ 0.0034375     $ 6.00     $ 6.00     $ 3.00     $ 6.00  
Term in years     3       5       5       2.75       1  
Volatility     80 %     80 %     80 %     80 %     80 %
Annual rate of dividends     0 %     0 %     0 %     0 %     0 %
Discount rate     1.02 %     1.64 %     1.57 %     1.26 %     1.26 %
Call option value   $ 1.49     $ 3.05     $ 3.34     $ 2.28     $ 1.21  
Warrant shares issued     436,364       660,000       64,193       12,500       30,000  
Warrants fair value   $ 713,745     $ 2,013,870     $ 214,243     $ 28,460     $ 36,266  
Schedule of the allocation of stock-based compensation

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

 

          Period From  
    Year Ended     Inception (June 20, 2014)  
    December 31, 2015        to December 31, 2014  
Operations and development costs   $ 119,144     $ -  
Business development and management costs     181,627       -  
Total   $ 300,771     $ -  

Schedule of assumptions used in the black-scholes-Merton option-pricing model

The following assumptions were used in the Black-Scholes-Merton option pricing model to estimate the fair value of the awards granted during the year ended December 31, 2015.

 

Expected stock volatility     80 %
Risk free interest rate     1.32% - 1.75 %
Expected years until exercise     3.42 - 3.5  
Dividend yield     0.00 %
Schedule of stock option activity

The following table summarizes the stock option activity for the year ended December 31, 2015.

 

          Weighted Average      
          Exercise Price     Weighted-Average
    Number of Shares     Per Share     Remaining Term
Outstanding as of December 31, 2014     -       -     -
                     
Granted     777,779     $ 3.94     4.4years
Forfeited     (25,455 )   $ 3.56     -
Outstanding as of December 31, 2015     752,324     $ 3.95     4.4years
Vested and exercisable as of December 31, 2015     -       -     -