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