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Share Name | Share Symbol | Market | Type |
---|---|---|---|
QuantRx Biomedical Corporation (CE) | USOTC:QTXB | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.004 | 0.00 | 01:00:00 |
Nevada
|
|
33-0202574
|
(State or other jurisdiction of incorporation or
organization)
|
|
(IRS Employer Identification No.)
|
Large accelerated filer
|
[ ]
|
Accelerated filer
|
[ ]
|
|
|
|
|
Non-accelerated filer
(Do not check if smaller reporting
company)
|
[ ]
|
Smaller reporting company
|
[X]
|
|
|
PAGE
|
PART I
|
|
|
|
|
|
3
|
||
8
|
||
12
|
||
13
|
||
13
|
||
13
|
||
|
|
|
PART II
|
|
|
|
|
|
13
|
||
14
|
||
14
|
||
19
|
||
19
|
||
19
|
||
19
|
||
20
|
||
|
|
|
PART III
|
|
|
|
|
|
21
|
||
22
|
||
23
|
||
25
|
||
25
|
||
Exhibits and Financial Statement Schedules
|
26
|
|
|
|
|
27
|
|
High
|
Low
|
Year ended December 31, 2016
|
|
|
Fourth
Quarter
|
$
0.01
|
$
0.01
|
Third
Quarter
|
$
0.02
|
$
0.01
|
Second
Quarter
|
$
0.02
|
$
0.01
|
First
Quarter
|
$
0.03
|
$
0.02
|
|
|
|
Year ended December 31, 2015
|
|
|
Fourth
Quarter
|
$
0.08
|
$
0.02
|
Third
Quarter
|
$
0.04
|
$
0.02
|
Second
Quarter
|
$
0.05
|
$
0.02
|
First
Quarter
|
$
0.05
|
$
0.03
|
|
Year Ended
December 31,
2016
|
Year Ended
December 31,
2015
|
|
|
|
Sales, general and administrative
|
$
75,434
|
$
219,292
|
Professional fees
|
$
56,231
|
$
116,754
|
Research and development
|
$
-
|
$
13,154
|
Other operating expense, net
|
$
7,174
|
$
9,665
|
|
Year Ended
December 31,
2016
|
Year Ended
December 31,
2015
|
|
|
|
Gain (loss) on settlement of accounts payable
|
$
540
|
$
57,066
|
Amortization of debt discount to interest expense
|
$
-
|
$
(35,075
)
|
Interest expense
|
$
(196,146
)
|
$
(123,899
)
|
Loss on impairment
|
$
(80,052
)
|
$
-
|
Gain (loss) on conversion of shares
|
$
16,503
|
$
(7,163
)
|
|
●
|
obtain adequate sources of funding to pay operating expenses and
fund long-term business operations;
|
|
|
|
|
●
|
enter into a licensing or other relationship that allows the
Company to commercialize its products;
|
|
|
|
|
●
|
manage or control working capital requirements by reducing
operating expenses; and
|
|
|
|
|
●
|
develop new and enhance existing relationships with product
distributors and other points of distribution for the
Company’s products.
|
Directors and Executive Officers
|
|
Age
|
|
Position
|
Dr. Shalom Hirschman
|
|
80
|
|
Chief Executive Officer, Principal Accounting Officer and
Chairman
|
Michael Abrams
|
|
47
|
|
Director
|
Name And
Principal Position
|
|
Year
|
|
Salary
($)
|
|
Bonus
($)
|
|
Option
Awards
($)
|
|
All other
Compensation
($)
|
|
Total
($)
|
|
||||
Dr. Shalom Hirschman
|
|
2016 (1)
|
|
|
-
|
|
|
-
|
|
|
-
|
|
-
|
|
|
-
|
|
Chief Executive Officer and Principal Accounting
Officer
|
|
2015
|
|
|
-
|
|
|
-
|
|
|
30,000
|
(2)
|
20,000
|
(3)
|
|
50,000
|
|
(1)
|
Dr. Hirschman did not receive compensation during the year ended
December 31, 2016
.
|
(2)
|
Amount represents the
grant date fair value
of stock options
to purchase
750,000 shares of Common Stock issued to Dr. Hirschman on February
3, 2015,
computed in accordance
with FASB guidance.
|
(3)
|
Amount represents the fair value of 1,000,000 shares of Common
Stock issued to Dr. Hirschman as compensation during
2015.
|
|
Option Awards
|
||||
Name
|
Number of
Securities
Underlying
Unexercised
Options (#)
Unexercisable
|
Equity Incentive Plan Awards:
Number of
Securities
Underlying Unexercised
Unearned
Options (#)
|
Option
Exercise
Price
($)
|
Option
Expiration
Date
|
|
|
|
|
|
|
|
Dr.
Shalom Hirschman
|
750,000
|
-
|
-
|
0.04
|
2/3/2020
|
Chief Executive Officer and Principal Accounting
Officer
|
|
|
|
|
|
Name
|
Fees earned or Paid in Cash
($)
|
Option
Awards
($)
|
Stock
Awards
($)
|
Total
($)
|
None
|
$
-
|
$
-
|
-
|
-
|
Name and Address of Beneficial Owner (1)
|
|
Amount and Nature of
Beneficial Ownership
as of April 10, 2017
|
|
|
Percentage of Class (2)
|
|
||
|
|
|
|
|
|
|
||
Officers and Directors
|
|
|
|
|
|
|
||
Shalom Hirschman (3)
|
|
|
2,800,000
|
|
|
|
2.54
|
%
|
Chief Executive
Officer
|
|
|
|
|
|
|
|
|
Michael Abrams (4)
|
|
|
2,026,945
|
|
|
|
3.52
|
%
|
Director
|
|
|
|
|
|
|
|
|
Total Officers and Directors as a Group
(2 persons)
|
|
|
4,826,945
|
|
|
|
6.07
|
%
|
|
|
|
|
|
|
|
|
|
5% Beneficial Owners
|
|
|
|
|
|
|
|
|
Jason T. Adelman (5)
c/o Cipher Capital Partners LLC
1251 Avenue of Americas, Suite 936
New York, NY 10020
|
|
|
5,979,222
|
|
|
|
7.60
|
%
|
|
|
|
|
|
|
|
|
|
Matthew Balk (6)
50 North 5th Street, Apt. 5GE
Brooklyn, NY 11249
|
|
|
5,696,780
|
|
|
|
7.24
|
%
|
*
|
Less than 1%.
|
(1)
|
Unless indicated otherwise, the address of each person listed in
the table is: c/o QuantRx Biomedical Corporation, 10190 SW 90th
Avenue, Tualatin, Oregon 97123.
|
(2)
|
The percentage of beneficial ownership of Common Stock is based
on 78,696,461 shares of Common Stock outstanding as of April
10, 2017 and excludes all shares of Common Stock issuable upon the
exercise of outstanding options or warrants to purchase Common
Stock or conversion of any Common Stock equivalents, other than the
shares of Common Stock issuable upon the exercise of options or
warrants to purchase Common Stock held by the named person to the
extent such options or warrants are exercisable within 60 days of
April 10, 2017.
|
(3)
|
Includes 750,000 shares issuable upon exercise of stock
options.
|
(4)
|
Includes 1,000,000 shares issuable upon exercise of stock
options.
|
(5)
|
Shares are owned by Mr. Adelman in JTWROS with Cass G. Adelman, Mr.
Adelman’s spouse. The shares exclude 3,085,336 shares of
Common Stock issuable upon conversion of shares of Series B
Preferred, and Common Stock issuable upon conversion of certain
convertible promissory notes in the principal amount of $467,000
beneficially owned by Mr. Adelman. The terms of the
promissory notes and the Series B Preferred contain provisions
preventing their conversion if as a result of such conversion the
holder thereof owns in excess of 4.99% and 9.99%, respectively, of
the issued and outstanding shares of the Company’s Common
Stock.
|
(6)
|
Shares exclude 300,000 shares of Common Stock issuable upon
conversion of shares of Series B Preferred, and Common Stock
issuable upon conversion of certain convertible promissory
notes in the principal amount of $74,000 beneficially
owned by Mr. Balk. The terms of the promissory notes and
the Series B Preferred contain provisions preventing their
conversion if as a result of such conversion or exercise the holder
thereof owns in excess of 4.99% and 9.99%, respectively, of the
issued and outstanding shares of the Company’s Common
Stock.
|
Exhibit No.
|
|
Description
|
3.1
|
|
Amended and Restated Articles of Incorporation of the Company
(incorporated by reference to Exhibit 3.1 filed with Form 10-KSB
filed on April 16, 2001)
|
3.2
|
|
Certificate of Amendment to the Articles of Incorporation of the
Company, dated November 30, 2005 (incorporated by reference to
Exhibit 3.2 filed with Form 10-KSB on March 31, 2006)
|
3.3
|
|
Bylaws of the Company (incorporated by reference to Exhibit 3.2
filed with Form 10KSB40/A filed on September 23, 1999)
|
3.4
|
|
Certificate of Amendment to the Bylaws of the Company dated
December 2, 2005 (incorporated by reference to Exhibit 3.4 filed
with Form 10-KSB on March 31, 2006)
|
3.5
|
|
Certificate of Amendment to the Articles of Incorporation dated
January 25, 2010 (incorporated by reference to Exhibit 3.5 filed
with Form 10-K on April 14, 2014)
|
3.6
|
|
Certificate of Withdrawal of the Series A Convertible Preferred
Stock and Series A-1 Convertible Preferred Stock, dated November
19, 2010 (incorporated by reference to Exhibit 3.6 filed with Form
10-K on April 14, 2014)
|
3.7
|
|
Certificate of Designation for Series B Convertible Preferred Stock
(incorporated by reference to Exhibit 3.6 filed with Form 10-K on
April 14, 2011)
|
4.1
|
|
Form of Warrant to Purchase Shares of Common Stock of QuantRx
Biomedical Corporation, dated October 2007 (incorporated by
reference to Exhibit 10.2 filed with Form 8-K on October 24,
2007)
|
4.2
|
|
Form of Warrant to Purchase Shares of Common Stock of QuantRx
issued by QuantRx in favor of Investors (incorporated by reference
to Exhibit 4.2 filed with Form 8-K on January 29,
2008)
|
4.3
|
|
Form of Warrant to Purchase Shares of Common Stock of QuantRx,
dated June 2008, issued by QuantRx in favor of lender (incorporated
by reference to Exhibit 4.2 filed with Form 8-K on July 28,
2008)
|
4.4
|
|
Form of Warrant to Purchase Shares of Common Stock of QuantRx,
dated August 2008, issued by QuantRx in favor of lender.
(incorporated by reference to Exhibit 4.2 filed with Form 8-K on
August 27, 2008)
|
4.5
|
|
Warrant to Purchase 2,000,000 Shares of Common Stock of QuantRx,
dated July 30, 2009, issued by QuantRx in favor of NuRx
(incorporated by reference to Exhibit 10.4 filed with Form 8-K on
August 5, 2009)
|
4.6
|
|
Warrant to Purchase 2,000,000 Shares of Common Stock of QuantRx,
dated July 30, 2009, issued by QuantRx in favor of NuRx
(incorporated by reference to Exhibit 10.5 filed with Form 8-K on
August 5, 2009)
|
10.1
|
|
2007 Incentive and Non-Qualified Stock Option Plan (incorporated by
reference to Exhibit C filed with Schedule 14A on June 5,
2007)
|
10.2
|
|
Employment Agreement, dated July 30, 2009, by and between QuantRx
and William Fleming (incorporated by reference to Exhibit 10.8
filed with Form 8-K on August 5, 2009)
|
10.3
|
|
Settlement Agreement and Release, dated as of July 7, 2011, by and
between the Company and NuRx Pharmaceuticals, Inc. (incorporated by
reference to Exhibit 99.1 filed with Form 8-K on July 8,
2011).
|
14.1
|
|
Ethical Guidelines adopted by the Board of Directors of the Company
on May 31, 2005 (incorporated by reference to Exhibit 14.1 filed
with Form 10-KSB on March 31, 2006)
|
31**
|
|
Certification of Principal Executive and Financial Officer
pursuant to Section 302 of the Sarbanes-Oxley Act of
2002
|
32**
|
|
Certification of Principal Executive and Financial Officer
pursuant to 18 USC Section 1350 as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
|
101.INS**
|
|
XBRL Instance Document
|
101.SCH**
|
|
XBRL Taxonomy Extension Schema
|
101.CAL**
|
|
XBRL Taxonomy Extension Calculation Linkbase
|
101..DEF**
|
|
XBRL Taxonomy Extension Definition Linkbase
|
101.LAB**
|
|
XBRL Taxonomy Extension Label Linkbase
|
101.PRE**
|
|
XBRL Taxonomy Extension Presentation Linkbase
|
|
QuantRx Biomedical Corporation
|
|
|
|
|
|
|
Date: April 17, 2017
|
By:
|
/s/ Shalom Hirschman
|
|
|
|
Shalom Hirschman
Principal Executive and Principal Accounting Officer
|
|
|
QuantRx Biomedical Corporation
|
|
|
|
|
|
|
Date: April 17, 2017
|
By:
|
/s/ Shalom Hirschman
|
|
|
|
Shalom Hirschman
Chief Executive Officer and Director
|
|
|
|
|
|
Date: April 17, 2017
|
By:
|
/s/ Michael Abrams
|
|
|
|
Michael Abrams,
Director
|
|
|
F-2
|
|
|
F-3
|
|
|
F-4
|
|
|
F-5
|
|
|
F-6
|
|
|
F-7
|
/s/ Fruci & Associates II, PLLC
Fruci
& Associates II, PLLC
Spokane,
WA
|
|
April
17, 2017
|
|
|
|
|
December 31,
|
December 31,
|
|
2016
|
2015
|
ASSETS
|
|
|
Current
Assets:
|
|
|
Cash
and cash equivalents
|
$
691
|
$
61,078
|
Deposit
on investment
|
-
|
50,000 -
|
Prepaid
expenses
|
28,094
|
26,396
|
Total
Current Assets
|
28,785
|
137,474
|
|
|
|
Investments,
net of impairment of $30,051
|
169,948
|
200,000
|
Property
and equipment, net
|
-
|
1,098
|
Intangible
assets, net
|
13,874
|
19,949
|
Total
Assets
|
$
212,607
|
$
358,521
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
|
|
|
Current
Liabilities:
|
|
|
Accounts
payable
|
$
160,671
|
$
121,821
|
Accounts
payable, related party
|
-
|
283,000
|
Accrued
expenses
|
36,342
|
34,366
|
Shareholder
loans
|
36,000
|
-
|
Notes
payable, net of discount
|
1,059,784
|
1,042,529
|
Notes
payable, related party
|
558,287
|
267,244
|
Current
portion of LT notes payable
|
4,376
|
2,336
|
Total
Current Liabilities
|
1,855,460
|
1,751,296
|
Notes
payable, long-term
|
35,646
|
39,430
|
Total
Liabilities
|
1,891,106
|
1,790,726
|
|
|
|
Commitments
and Contingencies
|
-
|
-
|
|
|
|
Stockholders’
Equity (Deficit):
|
|
|
Preferred
stock; $0.01 par value, 25,000,000 authorized shares;
20,500,000 shares designated as Series B Convertible Preferred
Stock; Series B Convertible Preferred shares 16,676,942 issued
and outstanding
|
166,769
|
166,769
|
Common
Stock; $0.01 par value; 150,000,000 authorized; 78,696,461 and
69,772,918 shares issued and outstanding,
respectively
|
786,964
|
697,729
|
Additional
paid-in capital
|
48,740,389
|
48,677,924
|
Accumulated
deficit
|
(51,372,621
)
|
(50,974,627
)
|
Total
Stockholders’ Equity (Deficit)
|
(1,678,499
)
|
(1,432,205
)
|
|
|
|
Total
Liabilities and Stockholders’ Equity (Deficit)
|
$
212,607
|
$
358,521
|
|
Year Ended December 31,
|
|
|
2016
|
2015
|
Revenues:
|
|
|
Revenues
|
$
-
|
$
156
|
Total
Revenues
|
-
|
156
|
|
|
|
Costs
and Operating Expenses:
|
|
|
Sales,
general and administrative
|
75,434
|
219,292
|
Professional
fees
|
56,231
|
116,754
|
Research
and development
|
-
|
13,154
|
Amortization
|
6,075
|
8,572
|
Depreciation
|
1,099
|
1,093
|
Total
Costs and Operating Expenses
|
138,839
|
358,865
|
|
|
|
Loss
from Operations
|
(138,839
)
|
(358,709
)
|
|
|
|
Other
Income (Expense):
|
|
|
Interest
expense
|
(196,146
)
|
(123,899
)
|
Amortization
of debt discount to interest expense
|
-
|
(35,075
)
|
Loss on impairment
|
(80,052
)
|
-
|
Gain
(loss) on conversion of shares
|
16,503
|
(7,163
)
|
Gain
(loss) on settlement of accounts payable
|
540
|
57,066
|
Total
Other Income (Expense), net
|
(259,155
)
|
(109,071
)
|
|
|
|
Income
(Loss) Before Taxes
|
(397,994
)
|
(467,780
)
|
|
|
|
Provision
for Income Taxes
|
-
|
-
|
|
|
|
Net
Income (Loss)
|
$
(397,994
|
$
(467,780
)
|
|
|
|
Basic
and Diluted Net Income (Loss) per Common Share
|
$
(0.01
)
|
$
(0.01
)
|
|
|
|
Basic
and Diluted Weighted Average Shares Used in per Share
Calculation
|
74,246,914
|
66,834,677
|
|
Year Ended December 31,
|
|
|
2016
|
2015
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
Net
income (loss)
|
(397,994
)
|
$
(467,780
|
Adjustments
to reconcile net loss to net cash used by operating
activities:
|
|
|
Depreciation
and amortization
|
7,173
|
9,665
|
Interest
expense related to amortization of non-cash discount, non-cash
beneficial conversion feature and deferred financing
costs
|
-
|
28,612
|
Non-cash
fair value of Common Stock issued as compensation to
management
|
-
|
30,000
|
Non-cash
fair value of Common Stock issued as compensation to
consultant
|
-
|
25,000
|
Non-cash
fair value of Stock Options issued as compensation to
management
|
|
92,000
|
Non-cash
loss on equity issuance for other financing costs
|
-
|
7,163
|
Non-cash
loss on issuance of common stock in exchange for interest on notes
payable
|
68,704
|
35,700
|
Non-cash
gain on the conversion of shares
|
(16,503
)
|
-
|
Non-cash
fair value of Common Stock issued in connection with notes
payable
|
-
|
99,672
|
(Increase)
decrease in:
|
|
|
Accounts
receivable
|
-
|
352
|
Loss
on impairment
|
80,042
|
-
|
Inventories
|
|
-
|
Prepaid
expenses
|
(1,698
)
|
14,506
|
Increase
(decrease) in:
|
|
|
Accounts
payable
|
38,850
|
(57,485
)
|
Accrued
expenses
|
(126,783
)
|
(43,783
)
|
|
|
|
Net
Cash Used by Operating Activities
|
(94,643
)
|
(226,378
)
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
|
|
Deposit
on Investment
|
-
|
(50,000
)
|
Net
Cash Provided (Used) by Investing Activities
|
-
|
(50,000
)
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
|
|
Principal
payment on long term debt
|
(1,744
)
|
(2,590
)
|
Proceeds
from the issuance of shareholder loans
|
36,000
|
-
|
Proceeds
from issuance of convertible promissory notes
|
-
|
121,500
|
|
|
|
Net
Cash Provided by Financing Activities
|
34,256
|
118,910
|
|
|
|
Net
Increase (Decrease) in Cash and Cash Equivalents
|
(60,387
)
|
(157,468
)
|
Net
Cash of Deconsolidated Subsidiary
|
|
|
Cash
and Cash Equivalents, Beginning of Period
|
61,078
|
218,546
|
|
|
|
Cash
and Cash Equivalents, End of Period
|
$
691
|
$
61,078
|
|
|
|
Supplemental
Cash Flow Disclosures:
|
|
|
Interest
expense paid in cash
|
$
-
|
$
-
|
Income
tax paid
|
$
-
|
$
-
|
|
|
|
Supplemental
Disclosure of Non-Cash Activities:
|
|
|
Common Stock issued for interest conversion
|
$
151,700
|
$
81,173
|
|
Preferred Stock
|
Common Stock
|
|
|
|
|
||
|
Number
of Shares
|
Amount
|
Number of
Shares
|
Amount
|
Additioal
Paid-in
Capital
|
Stock to be
Issued
|
Accumulated Defecit
|
Total
Stockholders’
Equity
|
BALANCE, DECEMBER 31, 2014
|
16,676,942
|
$
166,769
|
63,341,163
|
$
633,412
|
$
48,428,724
|
$
63,000
|
$
(50,506,847
)
|
$
(1,214,942
)
|
|
|
|
|
|
|
|
|
|
Issuance
of common stock related to notes payable
|
|
|
1,029,500
|
10,295
|
46,888
|
(42,000
)
|
|
15,183
|
Issuance
of common stock in exchange for interest payable
|
|
|
2,690,752
|
26,908
|
54,265
|
-
|
|
81,173
|
Issuance
of common stock for services to consultant
|
|
|
1,211,503
|
27,115
|
41,048
|
(21,000
)
|
|
32,163
|
Issuance
of common stock for services to management
|
|
|
1,500,000
|
|
30,000
|
|
|
30,000
|
Issuance
of stock options as compensation
|
|
|
|
|
92,000
|
|
|
92,000
|
Net
loss for the year ended December 31, 2015
|
|
|
|
|
|
|
(467,780
)
|
(467,780
)
|
|
|
|
|
|
|
|
|
|
BALANCE, DECEMBER 31, 2015
|
16,676,942
|
$
166,769
|
69,772,918
|
$
697,729
|
$
48,677,927
|
$
-
|
$
(50,974,627
)
|
$
(1,432,205
)
|
|
|
|
|
|
|
|
|
|
Issuance
of common stock in exchange for interest payable
|
-
|
-
|
8,923,543
|
89,235
|
62,465
|
-
|
-
|
151,700
|
|
|
|
|
|
|
|
|
|
Net
loss for the year ended December 31, 2016
|
|
|
|
|
|
|
(397,994
)
|
(397,994
)
|
|
|
|
|
|
|
|
|
|
BALANCE, DECEMBER 31, 2016
|
16,676,972
|
166,769
|
78,696,461
|
786,964
|
48,740,389
|
-
|
(51,372,621
)
|
(1,648,499
)
|
1.
|
DESCRIPTION OF BUSINESS
|
2.
|
MANAGEMENT STATEMENT REGARDING GOING CONCERN
|
3.
|
CONSOLIDATED SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
|
4.
|
OTHER BALANCE SHEET INFORMATION
|
5.
|
INVESTMENTS
|
6.
|
INTANGIBLE ASSETS
|
|
2016
|
2015
|
Licensed
patents and patent rights
|
$
50,000
|
$
50,000
|
Patents
|
41,044
|
41,044
|
NuRx
licensed technology
|
13,200
|
13,200
|
Less:
accumulated amortization
|
(90,370
)
|
(84,295
)
|
Intangibles,
net
|
$
13,874
|
$
19,949
|
Asset
Categories
|
Estimated Useful Life in Years
|
Patents
|
17
|
Patents
under licensing
|
10
|
Intangibles
acquired in 2008 (weighted average)
|
15
|
7.
|
CONVERTIBLE NOTES PAYABLE
|
|
December 31,
|
|
|
2016
|
2015
|
Notes
Payable
|
1,058,784
|
1,042,529
|
Notes
Payable, related party
|
558,287
|
267,244
|
Total
notes payable, net of discount
|
1,618,071
|
1,309,773
|
10.
|
LONG-TERM NOTES PAYABLE
|
11.
|
INCOME TAXES
|
|
2016
|
2015
|
Gross deferred tax
assets:
|
|
|
Net operating loss
carryforwards
|
$
9,800,000
|
$
9,700,000
|
Difference between
book and tax basis of former subsidiary stock held
|
|
|
Stock based
expenses
|
250,000
|
250,000
|
Tax credit
carryforwards
|
200,000
|
200,000
|
All
others
|
550,000
|
550,000
|
|
10,800,000
|
10,700,000
|
|
|
|
Deferred tax asset
valuation allowance
|
(10,800,000
)
|
(10,700,000
)
|
Net deferred tax
asset (liability)
|
$
-
|
-
|
12.
|
CAPITAL STOCK
|
13.
|
STOCK PURCHASE WARRANTS
|
14.
|
COMMON STOCK OPTIONS
|
|
|
Shares Under
Options Outstanding
|
|
|
Weighted Average
Exercise Price
|
|
||
Outstanding at December 31, 2014
|
|
|
152,000
|
|
|
$
|
1.34
|
|
Options granted
|
|
|
2,300,000
|
|
|
|
0.04
|
|
Options
forfeited
|
|
|
-
|
|
|
$
|
-
|
|
Options exercised
|
|
|
-
|
|
|
|
-
|
|
Outstanding at December 31, 2015
|
|
|
2,452,000
|
|
|
|
0.12
|
|
Options granted
|
|
|
-
|
|
|
$
|
|
|
Options forfeited
|
|
|
(100,000)
|
|
|
$
|
1.60
|
|
Options exercised
|
|
|
|
|
|
$
|
|
|
Outstanding at December 31, 2016
|
|
|
2,352,000
|
|
|
$
|
$0.06
|
|
|
Options
Exercisable
|
Weighted Average Exercise Price Per Share
|
Exercisable
at December 31, 2015
|
2,352,000
|
$
0.06
|
Exercisable
at December 31, 2016
|
2,352,000
|
$
0.06
|
|
Outstanding
|
Exercisable
|
|||
Exercise
Price
|
Number of
Shares
|
Weighted Average
Remaining
Contract Life in Years
|
Weighted
Average
Exercise Price
|
Number of
Shares
|
Weighted Average
Exercise Price
|
$
0.04
|
2,300,000
|
3.09
|
$
0.04
|
2,300,000
|
$
0.04
|
$
0.80
|
1,000
|
1.16
|
$
0.80
|
1,000
|
$
0.80
|
$
0.85
|
51,000
|
0.77
|
$
0.85
|
51,000
|
$
0.85
|
|
|
|
$
|
|
$
|
|
2,352,000
|
2.00
|
$
0.06
|
2,352,000
|
$
0.06
|
Nonvested Stock Options
|
Shares
|
Weighted Average Grant Date Fair Value
|
Nonvested
at December 31, 2014
|
100,500
|
$
100,000
|
Options
granted
|
-
|
-
|
Options
vested
|
-
|
$
-
|
Options
forfeited
|
|
-
|
Nonvested
at December 31, 2015
|
100,000
|
$
100.000
|
Options
granted
|
|
|
Options
vested
|
|
|
Options
forfeited
|
(100,000
)
|
(100,000
)
|
Nonvested
at December 31, 2016
|
-
|
-
|
15.
|
COMMITMENTS AND CONTINGENCIES
|
16.
|
SUBSEQUENT EVENTS
|
1 Year QuantRx Biomedical (CE) Chart |
1 Month QuantRx Biomedical (CE) Chart |
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