Annual report pursuant to Section 13 and 15(d)

9. Stock Options and Warrants (Tables)

v2.4.0.8
9. Stock Options and Warrants (Tables)
 12 Months Ended
Dec. 31, 2013
Stock Options And Warrants Tables  
Fair values of option awards granted
    2013     2012  
Risk free interest rate     0.70% - 2.65 %     0.62% - 2.31 %
Dividend yield     0 %     0 %
Expected term   5-10 years     5-10 years  
Expected volatility     51.5 – 62.8 %     62.8 – 67.9 %
Options issued under foregoing option plans
    Options outstanding  
   

 

Number of shares

     Weighted average exercise price per share  
Balance at December 31, 2011     1,003,000     $ 0.31  
  Options granted     109,500       0.14  
  Options exercised     5,000       0.07  
  Options expired or forfeited     75,000       0.30  
Balance at December 31, 2012     1,032,500       0.29  
  Options granted     409,000       0.15  
  Options exercised, expired or forfeited     254,500       0.21  
Balance at December 31, 2013     1,187,000     $ 0.26  
Summary information about options
Options outstanding     Options exercisable  

 

 

Total shares

    

 

Weighted average exercise price

     Weighted average remaining contractual life in years    

 

Aggregate intrinsic value

    

 

Total shares

    

 

Weighted average exercise price

     Weighted average remaining contractual life in years    

 

Aggregate intrinsic value

  
  1,187,000     $ 0.26       6.25     $ 11,418       755,750     $ 0.33       4.43     $ 3,920  
Nonvested stock awards
    Nonvested  
   

 

 

Number of shares

     Weighted average grant date fair value  
Balance at December 31, 2012     112,250     $ 0.08  
Granted     409,000       0.08  
Vested     90,000       0.08  
Balance at December 31, 2013     431,250       0.08