Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants (Tables)

v3.8.0.1
Stock Options and Warrants (Tables)
 3 Months Ended
Aug. 31, 2017
Estimated Fair Value of Warrants is determined using Black-Scholes Option Valuation Model

The Company determined the fair value of the warrant extension using the Black-Scholes option pricing model utilizing certain weighted-average assumptions, such as expected stock price volatility, term of the warrants, risk-free rate and expected dividend yield at date of exercise.

 

    

2017

Expected dividend yield

    0%

Stock price volatility

    61.48%

Expected term

    1 month

Risk-free interest rate

    0.84%

Grant-date fair value

    $0.25
Stock Option and Warrant Activity

The following table represents stock option and warrant activity as of and for the three-months ended August 31, 2017:

 

     Number of
Shares		      Weighted
Average
Exercise Price		      Weighted
Average
Remaining
Contractual Life
in Years		      Aggregate
Intrinsic Value		  

Options and warrants outstanding – May 31, 2017

      77,859,626      $ 0.86        3.40      $ 40,250  
  

 

 

           

Granted

      6,043,089        0.85        —          —    

Exercised

      (3,295,000 )       0.50        —          —    

Forfeited/expired/cancelled

      (25,000 )       0.55        —          —    
  

 

 

           

Options and warrants outstanding – August 31, 2017

      80,582,715        0.85        3.54      $ 320,344  
  

 

 

           

Outstanding exercisable – August 31, 2017

      75,904,464      $ 0.86        3.22      $ 104,990