Quarterly report pursuant to Section 13 or 15(d)

Schedule of Stock option activity (Tables)

v2.4.1.9
Schedule of Stock option activity (Tables)
3 Months Ended
Mar. 31, 2015
Schedule of Stock option activity (Tables):  
Schedule of Stock option activity

Exercise prices at December 31, 2012 and subsequent lower prices for the A, B, C and D warrants are as follow:

 

 

Series A

 

Series B

 

Series C

 

Series D

  December 31, 2012

$     1.00

 

$     3.00

 

$     0.65

 

$     7.00

  March 21, 2012

$     0.09

 

$     3.00

 

$     0.65

 

$     7.00

  August 21, 2012

$     0.09

 

$     0.11

 

$     0.65

 

$     7.00

  April 1, 2013

$     0.01

 

$     0.11

 

$     0.09

 

$     7.00

  June 18, 2014

$           -

 

$     0.11

 

$           -

 

$     1.60

Schedule of Assumptions used to value the options granted and warrants issued using the Black-Scholes option pricing model:

The following table provides the assumptions used to value the options granted and warrants issued using the Black-Scholes option pricing model:

 

 

Series E

 

Series F

 

and G

 

and H

Stock price volatility

111.60%

 

111.60%

Risk-free rate of return

4.26%

 

4.26%

Annual dividend yield

0.00%

 

0.00%

Expected life (in years)

0.5

 

3.0