Quarterly report pursuant to Section 13 or 15(d)

I. STOCK OPTIONS AND WARRANTS (Tables)

v3.4.0.3
I. STOCK OPTIONS AND WARRANTS (Tables)
3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Options outstanding and exercisable
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       1.57     $ 0.14       175,000     $ 0.14  
$ 0.16 - $0.99       1,570,225       6.84       0.18       1,323,683       0.18  
$ 1.00 - $3.03       80,000       0.85       2.28       80,000       2.28  
          1,825,225       6.07     $ 0.28       1,578,683     $ 0.28  
Option activity
    Number of
Shares
    Weighted Average
Price Per Share
 
Outstanding at January 1, 2015     1,930,225     $ 0.40  
Granted     50,000       0.18  
Exercised            
Cancelled or expired     (155,000 )     1.81  
Outstanding at December 31, 2015     1,825,225     $ 0.28  
Granted            
Exercised            
Cancelled or expired            
Outstanding at March 31, 2016     1,825,225     $ 0.28  
Warrants outstanding and exercisable
      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       5,211,542       0.02     $ 0.13       5,211,542     $ 0.13  
  0.18       50,000       1.66       0.18       50,000       0.18  
  0.20       250,000       5.52       0.20       250,000       0.20  
  3.00       126,868       0.02       3.00       126,868       3.00  
          5,638,410       0.28     $ 0.20       5,638,410     $ 0.20  
Warrant activity
    Number of
Shares
    Weighted Average
Price Per Share
 
Outstanding at January 1, 2015     7,915,533     $ 0.27  
Issued            
Exercised     (2,019,236 )     0.13  
Cancelled or expired     (257,887 )     3.00  
Outstanding at December 31, 2015     5,638,410       0.20  
Issued            
Exercised            
Cancelled or expired            
Outstanding at March 31, 2016     5,638,410     $ 0.20