Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE STOCK OPTIONS (Tables)

v2.4.0.6
EMPLOYEE STOCK OPTIONS (Tables)
 3 Months Ended
Mar. 31, 2013
EMPLOYEE STOCK OPTIONS (Tables)  
Stock option activity and changes

A summary of the stock option activity as of March 31, 2013, and changes during the three months then ended is as follows:

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

Shares

 

Price

 

Term

 

Value

Outstanding, December 31, 2012

1,125,000

$

2.37

 

-

 

-

Granted

1,550,000

 

4.60

 

-

 

-

Exercised

(10,000)

 

2.00

 

-

 

-

Outstanding, March 31, 2013

2,665,000

$

3.67

 

9.2 Years

$

7,928,263

Exercisable, March 31, 2013

195,000

$

2.06

 

8.7 Years

 

-
Weighted-average assumptions used for options granted

weighted-average assumptions used to determine the fair value of options granted during the three months ended March 31, 2013:

 

 

 

January 1,

 

February 13,

 

March 15,

 

 

2013

 

2013

 

2013

 

 

 

 

 

 

 

Risk free interest rate

 

0.76%

 

0.92%

 

0.84%

Expected life (years)

 

6.5

 

6.5

 

6.5

Dividend yield

 

-

 

-

 

-

Volatility

 

138%

 

137%

 

132%