Quarterly report pursuant to sections 13 or 15(d)

STOCK WARRANTS AND OPTIONS (Tables)

v2.4.0.8
STOCK WARRANTS AND OPTIONS (Tables)
 9 Months Ended
Sep. 30, 2013
Notes to Financial Statements  
Summary of Current Warrant Activity
    Common Stock Warrants   Weighted Average Exercise Price
  Outstanding – January 1, 2012       2,017,382     $ 0.43  
  Issued       —       —  
  Exercised       —       —  
  Expired       (686,429 )     0.40  
  Outstanding – December 31, 2012       1,330,953       0.45  
  Issued       —       —  
  Exercised       —       —  
  Expired       (714,286 )     0.40  
  Outstanding – September 30, 2013       616,667     $ 0.51  
  Exercisable – September 30, 2013       —       —  
Summary of Stock Options Pricing
  Options issued year ended
December 31, 2012
Dividend yield   0 %
Expected volatility   118 %
Risk free interest rate   0.33 %
Expected life (years)   3.00  
Summary of Stock Option Activity
    Common Stock Options   Weighted Average Exercise Price
  Outstanding – January 1, 2012       615,000     $ 0.43  
  Issued       285,000       0.40  
  Exercised       —       —  
  Expired       (800,000 )     —  
  Outstanding – December 31, 2012       100,000       0.25  
  Issued       —       —  
  Exercised       —       —  
  Expired       —       —  
  Outstanding – September 30, 2013       100,000     $ 0.25  
  Exercisable – September 30, 2013       —       —