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)
 9 Months Ended
Sep. 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 – September 30, 2014       175,000     $ 0.80  
  Exercisable – September 30, 2014       —         —    
Summary of Stock Options Pricing

    Options Issued
Nine Months Ended
September 30, 2014
Dividend yield     0 %
Expected volatility           86% to 90%  
Risk free interest rate           1.62% to 1.78%  
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       193,750       0.41  
       Exercised       —         —    
       Expired       —         —    
  Outstanding – September 30, 2014       293,750     $ 0.35  
  Exercisable – September 30, 2014       268,750     $ 0.36