Quarterly report pursuant to sections 13 or 15(d)

9. Stock Options (Tables)

v2.4.0.6
9. Stock Options (Tables)
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Stock Options Valuation Assumptions

 

Risk-free interest rate   0.64-0.85%
Expected life in years   5
Dividend yield    0
Expected volatility    59.19-63.64%

Stock Option Plan

 

                Weighted           Weighted  
    Options Outstanding     Average           Average  
    Number     Exercise     Remaining     Aggregate     Exercise  
    of     Price     Contractual     Intrinsic     Price  
    Shares     per Share     Life     Value     per Share  
Balance at December 31, 2011     14,995,000     $ 0.18-0.55     4.47 years       -     $ 0.43  
Options Granted     325,000     $ 0.44-0.50     4.83 years       -     $ 0.42  
Options Exercised     -       -       -       -       -  
Options Expired     -       -       -       -       -  
Balance at September 30, 2012     15,320,000     $ 0.18-0.55     4.05 years       -     $ 0.44  
                                         
Exercisable September 30, 2012     12,420,000     $ 0.18-0.55     2.38 years       -     $ 0.35