Quarterly report pursuant to Section 13 or 15(d)

Schedule of Stock option activity (Tables)

v3.3.0.814
Schedule of Stock option activity (Tables)
9 Months Ended
Sep. 30, 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

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