Annual report pursuant to Section 13 and 15(d)

9. Stockholders' (Deficit) (Tables)

v2.4.1.9
9. Stockholders' (Deficit) (Tables)
 12 Months Ended
Dec. 31, 2014
Stockholders Deficit Tables  
Assumptions used

Assumptions   Series J warrants February 6, 2013     Series J warrants March 28, 2013     Series J warrants May 20, 2013  
Contractual life (in months)     36       36       36  
Expected volatility     141.8       144.3       147.0  
Risk-free interest rate     0.39 %     0.36 %     0.36 %
Exercise price   $ 0.40     $ 0.40     $ 0.40  
Fair value per warrant   $ 0.36     $ 0.26     $ 0.30  

Options and warrants outstanding and exercisable

The following tables summarize information concerning options and warrants outstanding and exercisable:

 

    Stock Options     Warrants        
    Weighted     Weighted        
    Average price     Average price     Total  
    Shares     per share     Shares     per share     Shares     Exercisable  
Balance outstanding, January 1, 2013     1,605,750     $ 0.80       6,687,099     $ 0.81       8,292,849       7,989,331  
   Granted     363,500       0.41       8,346,228       0.37       8,709,728          
   Exercised     -       -       -       -       -          
   Expired     (10,000 )     1.00       (21,000 )     2.38       (31,000 )        
   Forfeited     (187,542 )     .85       -       -       (187,542 )        
Balance outstanding, December 31, 2013     1,771,708     $ 0.71       15,012,327     $ 0.57       16,784,035       16,611,528  
   Granted     1,675,500       0.30       8,903,000       0.38       10,578,500          
   Exercised     -       -       (4,208,658 )     .25       (4,208,658 )        
   Expired     (10,000 )     1.00       (524,468 )     .74       (534,468 )        
   Forfeited     (30,985 )     .71       -       -       (30,958 )        
Balance outstanding, December 31, 2014     3,406,250     $ 0.51       19,182,201     $ 0.49       22,588,451       20,858,111  

 

The weighted average grant date fair value of options issued was $0.25 for the year ending December 31, 2014.

 

      Options Outstanding     Options Exercisable  
            Weighted Average           Weighted Average  
Range of Exercise Prices     Number of Options     Remaining Contractual Life (Years)     Exercise Price     Number of Options     Remaining Contractual Life (Years)     Exercise Price  
$0.30-$0.39       1,675,500       9.7     $ 0.30       -       -     $ -  
0.40-0.49       311,000       8.4       0.40       311,000       8.4       0.40  
0.50-0.59       251,250       7.6       0.50       251,250       7.6       0.50  
0.60-0.69       467,500       5.0       0.60       433,283       4.8       0.60  
0.70-1.25       701,000       2.2       1.00       680,377       2.1       1.00  
$0.30-$1.25       3,406,250       5.1     $ 0.51       1,675,910       4.8     $ 0.72