Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.2.0.727
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value of Each Option Award Estimated Assumption

For options requiring an assessment of value during the six months ended June 30, 2015, the fair value of each option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate   0.68% to 1.66 %
Expected dividend yield   0 %
Expected volatility   243 %
Expected life   3.5 to 4.3 years  

 

For options requiring an assessment of value during the six months ended June 30, 2014, the fair value of each option award was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate   0.30% to 1.67 %
Expected dividend yield   0 %
Expected volatility   173 %
Expected life   3.0 to 4.5 years  

Summary of Stock Option Activity

A summary of stock option activity during the six months ended June 30, 2015 is presented in the tables below.

 

                Weighted  
                Average  
          Weighted     Remaining  
    Number     Average     Contractual  
    Of     Exercise     Life  
    Shares     Price     (in Years)  
                   
Options outstanding at December 31, 2014     6,850,000       0.582          
Granted     500,000       0.250          
Exercised     —       —          
Expired     (100,000 )     0.500          
Options outstanding at June 30, 2015     7,250,000     $ 0.560       2.92  
                         
Options exercisable at December 31, 2014     4,675,000     $ 0.626          
Options exercisable at June 30, 2015     7,100,000     $ 0.564       2.62  

Exercise Prices of Common Stock Options Outstanding and Exercisable

The exercise prices of common stock options outstanding and exercisable are as follows at June 30, 2015:

 

      Options     Options  
Exercise     Outstanding     Exercisable  
Prices     (Shares)     (Shares)  
               
$ 0.130       100,000       50,000  
$ 0.250       1,000,000       1,000,000  
$ 0.500       4,200,000       4,100,000  
$ 0.650       700,000       700,000  
$ 0.980       250,000       250,000  
$ 1.000       1,000,000       1,000,000  
          7,250,000       7,100,000