Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v2.4.1.9
STOCK OPTIONS AND WARRANTS (Tables)
3 Months Ended
Mar. 31, 2015
Employee Options [Member]  
Summary of the changes in options outstanding and the related prices
Options Outstanding     Options Exercisable  
Exercise
Prices
  Number
Outstanding
    Weighted
Average
Remaining
Contractual
Life (Years)
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Exercise
Price
 
                                           
$ 0.10     15,000,000       4.63     $ 0.10       15,000,000     $ 0.10  
Transactions involving stock options issued to employees, Employee Options
    Number of
Shares
    Weighted
Average
Exercise
Price Per
Share
 
Outstanding at December 31, 2013     9,000,000     $ 0.015  
Granted     15,000,000       0.100  
Exercised     (9,000,000 )     0.015  
Expired                
Outstanding at December 31, 2014     15,000,000     $ 0.100  
Granted     -          
Exercised     -          
Expired     -       -  
Outstanding at March 31, 2015     15,000,000     $ 0.100  
Non Employee Options [Member]  
Summary of the changes in options outstanding and the related prices
 Options Outstanding     Options Exercisable  
Exercise
Prices
  Number
Outstanding
    Weighted
Average
Remaining
Contractual
Life (Years)
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Exercise
Price
 
$ 0.10     200,000       3.52     $ 0.10       200,000     $ 0.10  
  0.20     150,000       3.94       0.20       150,000       0.20  
        350,000       3.70       0.14       350,000          
Transactions involving stock options issued to employees, Employee Options
    Number
of Shares
   

Weighted

Average
Exercise
Price Per
Share

 
Outstanding at December 31, 2013     2,750,000     $ 0.015  
Granted     150,000       0.200  
Exercised     (2,550,000 )     0.017  
Expired     -       -  
Outstanding at December 31, 2014     350,000       0.0140  
Granted     -       -  
Exercised     -       -  
Expired     -       -  
Outstanding at March 31, 2015     350,000     $ 0.14  
Assumptions used in the valuation of stock options
    2015     2014  
Risk-free interest rate     0.89 %     1.73 %
Expected term of option     3.95 years       4.56 years  
Expected stock price volatility     164.63 %     226.04 %
Expected dividend yield     0.0 %     0.0 %