• Filing Date: 2018-08-20
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Note 6 - Options Outstanding
3 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
 
NOTE 
6
 - OPTIONS OUTSTANDING
 
 
On 
September 2, 2015, 
ADM granted 
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 for the
three
month period ended
June 30, 2018 
and the year ended
March 31, 2018.
  
   
June 30, 2018
   
March 31, 2018
 
   
# of Shares
   
Weighted
Average
Exercise Price
   
# of Shares
   
Weighted
Average
Exercise Price
 
                                 
Outstanding, beginning of period/year
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Issued
   
-
     
-
     
-
     
-
 
                                 
Exercised
   
-
     
-
     
-
     
-
 
                                 
Expired
   
 -
     
-
     
-
     
-
 
                                 
Outstanding, end of period/year
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Exercisable, end of period/year
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20