Quarterly report pursuant to Section 13 or 15(d)

J. STOCK OPTIONS AND WARRANTS (Tables)

v2.4.0.8
J. STOCK OPTIONS AND WARRANTS (Tables)
 6 Months Ended
Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]  
Employee Stock Options

The following table summarizes the changes in options outstanding and the related prices for the shares of the Company’s common stock issued to employees of the Company under the Plan.

 

Options Outstanding   Options Exercisable  
Exercise Prices   Number
Outstanding 		    Weighted Average
Remaining
Contractual Life
 (Years) 		    Weighted Average
Exercise Price 		    Number
Exercisable 		    Weighted Average
Exercise Price 		 
$0.01 - $0.15     175,000       4.32     $ 0.14       175,000     $ 0.14  
$0.16 - $0.99     1,420,225       9.23       0.18       1,165,225       0.18  
$1.00 - $5.99     190,000       2.28       3.14       190,000       3.14  
      1,785,225       8.01     $ 0.49       1,530,225     $ 0.54  

 

Transactions involving stock options issued to employees are summarized as follows:

 

    Number of
Shares 		    Weighted Average
Price Per Share 		 
Outstanding at January 1, 2012     685,000     $ 1.45  
Granted     915,642       0.19  
Exercised     –       –  
Cancelled or expired     (320,000 )     1.16  
Outstanding at December 31, 2012     1,280,642     $ 0.62  
Granted     504,583       0.18  
Exercised     –       –  
Cancelled or expired     –       –  
Outstanding at June 30, 2013     1,785,225     $ 0.49  
Warrants

The following table summarizes the changes in warrants outstanding and the related prices for the shares of the Company’s common stock issued to non-employees of the Company.  These warrants were granted in lieu of cash compensation for services performed or financing expenses and in connection with placement of convertible preferred stock.

 

      Warrants Outstanding           Warrants Exercisable  
Exercise Prices     Number
Outstanding 		    Weighted Average
Remaining
Contractual Life
(Years) 		    Weighted Average
Exercise Price 		    Number
Exercisable 		    Weighted Average
Exercise Price 		 
$ 0.13       7,439,240       2.62     $ 0.13       7,439,240     $ 0.13  
  0.33       1,628,800       1.39       0.33       1,628,800       0.33  
  3.00       549,247       1.93       3.00       549,247       3.00  
          9,617,287       2.38     $ 0.32       9,617,287     $ 0.32  

  

Transactions involving warrants are summarized as follows:

 

    Number of
Shares 		    Weighted Average
Price Per Share 		 
Outstanding at January 1, 2012     14,921,920     $ 0.50  
Issued     –       –  
Exercised     (3,115,390 )     0.13  
Canceled or expired     (976,114 )     2.20  
Outstanding at December 31, 2012     10,830,416       0.45  
Issued     –       –  
Exercised     –       –  
Canceled or expired     (1,213,129 )     1.42  
Outstanding at June 30, 2013     9,617,287     $ 0.32