Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v2.4.0.8
Warrants (Tables)
6 Months Ended
Jun. 30, 2014
Warrants  
Schedule of Stock Warrants Activity

The following is a summary of the Company’s warrant activity:

 

    Warrants     Weighted
average
exercise price
    Weighted 
average
remaining 
contractual
term in years
    Aggregate
intrinsic value
 
Outstanding January 1, 2013     3,693,971     $ 0.450       4.81     $ -  
Exercisable January 1, 2013     3,693,971     $ 0.450       4.81     $ -  
Granted     -                          
Exercised     -                          
Forfeited     (298,138 )                        
Outstanding December 31, 2013     3,395,833     $ 0.450       5.28     $ -  
Exercisable December 31, 2013     3,395,833     $ 0.450       5.28     $ -  
Canceled     (3,395,833 )                        
Granted     28,405,782                          
Exercised     -                          
Forfeited     -                          
Outstanding June 30, 2014     28,405,782     $ 0.653       4.61     $ -  
Exercisable June 30, 2014     28,405,782     $ 0.653       4.61     $ -  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

The range of fair value assumptions related to warrants outstanding as of June 30, 2014 and December 31, 2013, were as follows:

 

    June 30, 2014     December 31, 2013  
Dividend yield     0.0%       0.0%  
Risk-free rate     0.12% - 0.66%       0.62% - 4.59%  
Expected volatility     112% - 159%       108% - 167%  
Expected term     1.0  - 2.5 years       2.5 - 10.0 years