Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v3.3.0.814
STOCK OPTIONS AND WARRANTS (Tables)
9 Months Ended
Sep. 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 – September 30, 2015

 

 

 

 

$

 

Exercisable – September 30, 2015

 

 

 

 

$

 

 

Summary of Stock Options Pricing

 

 

 

Options Issued

Nine Months Ended

September 30, 2015

 

Dividend yield

 

 

0%

 

Expected volatility

 

84% - 85%

 

Risk free interest rate

 

1.37% - 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

 

 

$

0.36

 

Issued

 

 

420,833

 

 

 

0.26

 

Exercised

 

 

 

 

 

 

Expired

 

 

 

 

 

 

Outstanding – September 30, 2015

 

 

802,083

 

 

$

0.31

 

Exercisable – September 30, 2015

 

 

225,000

 

 

$

0.20