Quarterly report pursuant to Section 13 or 15(d)

3. Stock Options (Tables)

v2.4.0.6
3. Stock Options (Tables)
 3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
 

Three Months ended

March 31,
  2013   2012
Risk free interest rate 0.88 – 0.90%   1.20 – 2.31%
Dividend yield 0%   0%
Expected term 5 years   5-10 years
Expected volatility 62.8%   62.8 – 67.9%
Options outstanding

 

    Options outstanding  
   

Number of

shares

    

Weighted

average 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  

 

   

Number of

shares

    

Weighted

average price

per share

  
Balance at December 31, 2011     1,003,000     $ 0.31  
  Options granted     65,000       0.15  
  Options exercised, expired or forfeited     (28,000)       0.36  
Balance at March 31, 2012     1,040,000     $ 0.30  
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  
  1,182,500     $ 0.28       4.90     $ 1,770       960,250     $ 0.30       3.81     $ 1,770
Nonvested Stock awards
    Nonvested  
   

Number of

shares

    

Weighted

average g

rant date

fair value

  
Balance at December 31, 2012     112,250     $ 0.08  
Granted     160,000       0.08  
Vested     50,000       0.08  
Balance at March 31, 2013     222,250     $ 0.08