• Filing Date: 2016-11-17
  • Form Type: 10-Q
  • Description: Quarterly report
v3.5.0.2
Note 6 - Options Outstanding
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE 6 - OPTIONS OUTSTANDING
 
 
On September 2, 2015, ADM granted an additional 3,000,000 stock options to employees at an exercise price of $0.20 per option and with a term of three years. The options were valued at $598,699 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 2.03%, volatility of 353%, estimated useful life of 3 years and dividend rate of 0%.
 
The following table summarizes information on all common share purchase options issued by us as of September 30, 2016 and 2015.
 
 
   
2016
   
2015
 
   
# of Shares
   
Weighted
Average
Exercise
Price
   
# of Shares
   
Weighted
Average
Exercise
Price
 
                                 
Outstanding, beginning of year
    3,000,000     $ 0.20       600,000     $ 0.02  
                                 
Issued
    -     $ -       3,000,000     $ 0.20  
                                 
Exercised
    -     $ -       -     $ -  
                                 
Expired
    -     $ -       -     $ -  
                                 
Outstanding, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17  
                                 
Exercisable, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17