Annual report pursuant to section 13 and 15(d)

STOCK WARRANTS AND OPTIONS (Tables)

v2.4.0.6
STOCK WARRANTS AND OPTIONS (Tables)
 12 Months Ended
Dec. 31, 2012
Notes to Financial Statements  
FAIR VALUE OF THE WARRANTS
    Warrants issued year ended December 31, 2011
Dividend yield     0 %
Expected volatility     146 %
Risk free interest rate     0.66 %
Expected life (in years)     3.00  

 
SUMMARY OF CHANGES IN SHARE PURCHASE WARRANTS
    Common Stock Warrants   Weighted Average Exercise Price
  Outstanding – January 1, 2011       1,750,715     $ 0.45  
       Issued       266,667       0.40  
       Exercised       —         —    
       Expired       —         —    
  Outstanding – December 31, 2011       2,017,382       0.43  
       Issued       —       — 
       Exercised       —         —   
       Expired       (686,429 )      0.40  
  Outstanding – December 31, 2012       1,330,953     $ 0.45  
  Exercisable – December 31, 2012       —         —    

 
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 CHANGES IN STOCK OPTIONS
    Common Stock Options   Weighted Average Exercise Price
  Outstanding – January 1, 2011       291,250     $ 0.45  
       Issued       323,750       0.40  
       Exercised       —         —    
       Expired       —         —    
  Outstanding – December 31, 2011       615,000       0.43  
       Issued       285,000       0.40  
       Exercised       —         —    
       Expired       (800,000 )     —    
  Outstanding – December 31, 2012       100,000     $ 0.45  
  Exercisable – December 31, 2012       —         —