Annual report pursuant to section 13 and 15(d)

Stock Based Compensartion (Tables)

v2.4.0.8
Stock Based Compensartion (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Option Activity

A summary of stock option activity is as follows:

 

    Options     Weighted
average
exercise
price 		    Weighted
average
remaining contractual
term in years 		    Aggregate
intrinsic value 		 
Outstanding January 1, 2012     17,933,091     $ 0.07       4.17     $ 358,662  
Exercisable January 1, 2012     16,602,622     $ 0.07       4.05     $ 332,052  
Granted     -       -                  
Exercised     -       -                  
Forfeited     (2,642,605 )   $ 0.07                  
Outstanding December 31, 2012     15,290,486     $ 0.07       3.89     $ 305,810  
Exercisable December 31, 2012     14,524,861     $ 0.07       3.75     $ 290,497  
Granted     -       -                  
Exercised     -       -                  
Forfeited     -       -                  
Outstanding December 31, 2013     15,290,486     $ 0.07       3.89     $ 305,810  
Exercisable December 31, 2013     15,290,486     $ 0.07       3.89     $ 305,810  

Schedule of Nonvested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the years ended December 31, 2013 and 2012, is presented below:

 

    2013     2012  
Non-vested at January 1,     765,625       1,330,469  
Granted     -       -  
Vested     (765,625 )     (564,844 )
Forfeited     -       -  
Non-vested at December 31,     -       765,625  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options outstanding as of December 31, 2013 and 2012, were as follows:

 

    2013     2012  
Dividend yield     0.0%       0.0%  
Risk-free rate     0.92% - 5.15%       0.92% - 5.15%  
Expected volatility     116% - 170%       116% - 170%  
Expected term     2.5 - 7.5 years       2.5 - 7.5 years