Annual report pursuant to section 13 and 15(d)

STOCK WARRANTS AND OPTIONS (Tables)

v2.4.0.8
STOCK WARRANTS AND OPTIONS (Tables)
 12 Months Ended
Dec. 31, 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 – December 31, 2013       616,667     $ 0.51  
  Exercisable – December 31, 2013       616,667     $ 0.51  
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 )     0.33  
  Outstanding – December 31, 2012       100,000       0.25  
       Issued       —         —    
       Exercised       —         —    
       Expired       —         —    
  Outstanding – December 31, 2013       100,000     $ 0.25  
  Exercisable – December 31, 2013       49,750     $ 0.25