Quarterly report pursuant to Section 13 or 15(d)

3. Stock Based Compensation (Tables)

v3.4.0.3
3. Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
   

Three Months ended

March 31,

  
    2016   2015  
Risk free interest rate   1.15% - 1.55%   1.61% - 1.97%  
Dividend yield   0%   0%  
Expected term   5 years   5-10 years  
Expected volatility   34.9% - 35.0%   41.2% - 54.2%  
Options outstanding
    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2015     1,193,000     $ 0.24  
  Options granted     50,000       0.14  
  Options exercised     -       -  
  Options expired or forfeited     (3,000 )     0.70  
Balance at March 31, 2016     1,240,000     $ 0.24  
   

Options outstanding		  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2014     1,264,000     $ 0.26  
  Options granted     20,000       0.20  
  Options exercised     -       -  
  Options expired or forfeited     (1,000 )     0.24  
Balance at March 31, 2015     1,283,000     $ 0.26  
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  
  1,240,000     $ 0.24       4.82     $ 7,093       1,145,500     $ 0.25       4.49     $ 6,073  
Nonvested Stock awards
    Nonvested  
    Number of shares     Weighted average grant date fair value  
Balance at December 31, 2015     49,500     $ 0.07  
 Granted     50,000       0.04  
 Vested     (5,000 )     0.08  
 Expired before vesting     -       -  
Balance at March 31, 2016     94,500     $ 0.05