Quarterly report pursuant to Section 13 or 15(d)

Stock Option Plans (Tables)

v3.2.0.727
Stock Option Plans (Tables)
6 Months Ended
Jun. 30, 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       4,652,076                          
Exercised       -                          
Forfeited       -                          
Outstanding June 30, 2015       32,404,391     $ 0.47       7.16     $ 309,827  
Exercisable June 30, 2015       32,404,391     $ 0.47       7.16     $ 309,827  

Schedule of Non-vested Shares Granted Under Stock Option Plan

A summary of the Company’s non-vested options for the six-months ended June 30, 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       4,652,076  
Vested       (6,247,838 )
Exercised       -  
Forfeited       -  
Non-vested at June 30, 2015       -  

Schedule of Fair Value Assumptions

The range of fair value assumptions related to options outstanding as of June 30, 2015 and December 31, 2014, were as follows:

 

    June 30, 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