Quarterly report pursuant to Section 13 or 15(d)

Stock Option Plans (Tables)

v2.4.1.9
Stock Option Plans (Tables)
3 Months Ended
Mar. 31, 2015
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, 2014     15,290,486     $ 0.07       3.89     $ 358,662  
Exercisable January 1, 2014     15,290,486     $ 0.07       3.89     $ 305,810  
Canceled     (15,290,486 )                        
Granted       27,756,821                          
Exercised     (4,506 )                        
Forfeited     -                          
Outstanding December 31, 2014     27,752,315     $ 0.51       8.02     $ 1,963,523  
Exercisable December 31, 2014     26,156,553     $ 0.50       7.95     $ 1,962,239  
Canceled     -                          
Granted     -                          
Exercised     -                          
Forfeited     -                          
Outstanding March 31, 2015     27,752,315     $ 0.51       7.77     $ 2,712,885  
Exercisable March 31, 2015     27,752,315     $ 0.51       7.77     $ 2,712,885  

Schedule of Non-vested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the three-months ended March 31, 2015 and year ended December 31, 2014, is presented below:

 

Non-vested at January 1, 2014     -  
Granted     27,756,821  
Vested     (26,156,553 )
Exercised     (4,506 )
Forfeited     -  
Non-vested at December 31, 2014     1,595,762  
Granted     -  
Vested     (1,595,762 )
Exercised     -  
Forfeited     -  
Non-vested at March 31, 2015     -  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options outstanding as of March 31, 2015 and December 31, 2014, were as follows:

 

    March 31, 2015     December 31, 2014  
Dividend yield     0.0 %     0.0 %
Risk-free rate      0.12% - 1.47 %      0.12% - 1.47 %
Expected volatility      112% - 170 %      112% - 170 %
Expected term      1.1 - 5.5 years        1.1 - 5.5 years