Annual report pursuant to Section 13 and 15(d)

9. Stock Options and Warrants (Tables)

v2.4.1.9
9. Stock Options and Warrants (Tables)
 12 Months Ended
Dec. 31, 2014
Stock Options And Warrants Tables  
Fair values of option awards granted
  2014   2013
Risk free interest rate 1.52% - 1.78%   0.70% - 2.65%
Dividend yield 0%   0%
Expected term 5 years   5-10 years
Expected volatility 40.7 – 47.3%   51.5 – 62.8%
Options issued under foregoing option plans
    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2013     1,032,500     $ 0.29  
  Options granted     409,000       0.15  
  Options expired or forfeited     254,500       0.21  
Balance at December 31, 2013     1,187,000       0.26  
  Options granted     80,000       0.16  
  Options exercised, expired or forfeited     3,000       0.11  
Balance at December 31, 2014     1,264,000     $ 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  
  1,264,000     $ 0.26       5.54     $ 26,488       1,054,500     $ 0.28       4.83     $ 18,902  
Nonvested stock awards
    Nonvested  
    Number of shares     Weighted average grant date fair value  
Balance at December 31, 2013     431,250     $ 0.08  
Granted     80,000       0.06  
Vested     301,750       0.08  
Balance at December 31, 2014     209,500       0.07