Quarterly report pursuant to Section 13 or 15(d)

STOCK WARRANTS, OPTIONS AND GRANTS (Tables)

v2.4.0.8
STOCK WARRANTS, OPTIONS AND GRANTS (Tables)
 6 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
Summary of Current Warrant Activity
    Common Stock Warrants   Weighted Average Exercise Price
  Outstanding – January 1, 2013       1,330,953     $ 0.45  
       Issued       —         —    
       Exercised       —         —    
       Expired       (714,286 )     0.40  
  Outstanding – December 31, 2013       616,667       0.51  
       Issued       —         —    
       Exercised       —         —    
       Expired       (441,667 )     0.40  
  Outstanding – June 30, 2014       175,000     $ 0.80  
  Exercisable – June 30, 2014       —         —    
Summary of Stock Options Pricing
 

Options Issued

Six Months Ended

June 30, 2014
Dividend yield 0%
Expected volatility       86% to 90%
Risk free interest rate       1.62% to 1.73%
Expected life (years) 5.00
Summary of Stock Option Activity
    Common Stock Options   Weighted Average Exercise Price
  Outstanding – January 1, 2013       100,000     $ 0.25  
       Issued       —         —    
       Exercised       —         —    
       Expired       —         —    
  Outstanding – December 31, 2013       100,000       0.25  
       Issued       106,250       0.42  
       Exercised       —         —    
       Expired       —         —    
  Outstanding – June 30, 2014       206,250     $ 0.34  
  Exercisable – June 30, 2014       172,916     $ 0.36