Quarterly report pursuant to Section 13 or 15(d)

3. Stock Based Compensation (Tables)

v2.4.0.8
3. Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
Risk free interest rate     0.88 – 0.90 %
Dividend yield     0 %
Expected term   5 years  
Expected volatility     62.8 %
Options outstanding
    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2013     1,187,000     $ 0.26  
  Options granted, exercised, expired or forfeited     --       --  
Balance at March 31, 2014     1,187,000     $ 0.26  

 

 

 

    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2012     1,032,500     $ 0.29  
  Options granted     160,000       0.16  
  Options exercised, expired or forfeited     (10,000 )     0.15  
Balance at March 31, 2013     1,182,500     $ 0.28  

 
Options Summary
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       6.00     $ 60,518       910,750     $ 0.30       4.98     $ 35,483  
Nonvested Stock awards
    Nonvested  
   

 

Number of shares

     Weighted average grant date fair value  
Balance at December 31, 2013     431,250     $ 0.08  
Vested     (155,000 )     0.08  
Balance at March 31, 2014     276,250     $ 0.08