Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v2.4.0.8
Warrants (Tables)
9 Months Ended
Sep. 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 September 30, 2014     28,405,782     $ 0.653     4.61     $ -  
Exercisable September 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 September 30, 2014 and December 31, 2013, were as follows:

 

    September 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