Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v3.2.0.727
STOCK OPTIONS AND WARRANTS (Tables)
6 Months Ended
Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Warrant Activity

A summary of current warrant activity is as follows:

  

 

 

Common Stock Warrants

 

 

Weighted Average Exercise Price

 

Outstanding – January 1, 2014

 

 

616,667

 

 

$

0.56

 

Issued

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Expired

 

 

(616,667

)

 

 

0.56

 

Outstanding – December 31, 2014

 

 

 

 

 

 

Issued

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Expired

 

 

 

 

 

 

Outstanding – June 30, 2015

 

 

 

 

$

 

Exercisable – June 30, 2015

 

 

 

 

$

 

 

Summary of Stock Options Pricing

 

 

 

Options Issued

Six Months Ended

June 30, 2015

 

Dividend yield

 

 

0

%

Expected volatility

 

 

85

%

Risk free interest rate

 

 

1.63

%

Expected life (years)

 

 

5.00

 

 

Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common Stock Options

 

 

Weighted Average

Exercise Price

 

Outstanding – January 1, 2014

 

 

100,000

 

 

$

0.25

 

Issued

 

 

281,250

 

 

 

0.41

 

Exercised

 

 

 

 

 

 

Expired

 

 

 

 

 

 

Outstanding – December 31, 2014

 

 

381,250

 

 

$

0.41

 

Issued

 

 

300,000

 

 

 

0.26

 

Exercised

 

 

 

 

 

 

Expired

 

 

 

 

 

 

Outstanding – June 30, 2015

 

 

681,250

 

 

$

0.32

 

Exercisable – June 30, 2015

 

 

592,361

 

 

$

0.32