Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v3.3.1.900
STOCK OPTIONS AND WARRANTS (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Warrant Activity

A summary of 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 - December 31, 2015

 

 

 

 

$

 

Exercisable - December 31, 2015

 

 

 

 

$

 

 

Summary of Stock Options Pricing

 

 

 

Options issued year ended

December 31, 2015

Dividend yield

 

0%

Expected volatility

 

84% - 85%

Risk free interest rate

 

1.18% - 1.81%

Expected life (years)

 

5

 

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

 

 

675,000

 

 

 

0.23

 

Exercised

 

 

 

 

 

 

Expired

 

 

 

 

 

 

Outstanding - December 31, 2015

 

 

1,056,250

 

 

$

0.28

 

Exercisable - December 31, 2015

 

 

225,000

 

 

$

0.18