Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS AND WARRANTS (Tables)

v3.2.0.727
STOCK OPTIONS AND WARRANTS (Tables)
6 Months Ended
Jun. 30, 2015
Employee Options [Member]  
Summary of the changes in options outstanding and the related prices

The following table summarizes the changes in employee options outstanding and the related prices for the shares of the Company’s common stock issued to non-employees of the Company under the 2014 Stock Option Plan:  

 

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       4.38     0.10       15,000,000     0.10  
Transactions involving stock options issued to employees, Employee Options

Transactions involving stock options issued to employees are summarized as follows:  

 

   

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 June 30, 2015      15,000,000     $ 0.100  
Non Employee Options [Member]  
Summary of the changes in options outstanding and the related prices

The following table summarizes the changes in non-employee options outstanding and the related prices for the shares of the Company’s common stock issued to non-employees of the Company under the 2013 Stock Option Plan:  

 

 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        3.27      0.10        200,000      0.10   
  0.20      150,000        3.69        0.20        150,000        0.20   
        350,000        3.45        0.14        350,000           
Transactions involving stock options issued to employees, Employee Options

Transactions involving stock options issued to non-employees are summarized as follows: 

 

   

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 June 30, 2015      350,000     $ 0.14  
Assumptions used in the valuation of stock options

The assumptions used in the valuation of stock options vesting during the six months ended June 30, 2015 and 2014 were as follows: 

 

    2015     2014  
Risk-free interest rate      0.89      1.62% to 1.73 
Expected term of option      3.95 years        4.27 to 4.70 years   
Expected stock price volatility      164.63      205.83% to 226.04 
Expected dividend yield      0.0      0.0 
Warrant [Member]  
Summary of the changes in options outstanding and the related prices

The following table summarizes the changes in warrants outstanding and the related prices for the shares of the Company’s common stock: 

 

Warrants Outstanding     Warrants Exercisable  
Exercise
Prices
  Number
Outstanding
    Weighted
Average
Remaining
Contractual
Life (Years)
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Remaining
Contractual
Life (Years)
 
0.25      1,475,000        3.44      0.25        1,475,000        3.94   
  1.00      1,155,000        3.01        1.00        1,155,000        3.51   
$   0.58      2,630,000        3.25      0.58        2,630,000        3.75   
Transactions involving stock options issued to employees, Employee Options

Transactions involving warrants are summarized as follows: 

 

   

Number

of Shares

    Weighted
Average
Exercise
Price Per
Share
 
Outstanding at December 31, 2013      2,430,000     $ 1.00  
Issued      1,475,000       0.25  
Exercised      -       -  
Expired      (1,275,000 )     (1.00 )
Outstanding at December 31, 2014      2,630,000     $ 0.58  
Issued      -       -  
Exercised      -       -  
Canceled      -       -  
Outstanding at June 30, 2015      2,630,000     $ 0.58