Quarterly report pursuant to Section 13 or 15(d)

10. STOCK OPTIONS AND WARRANTS (Tables)

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10. STOCK OPTIONS AND WARRANTS (Tables)
6 Months Ended
Jun. 30, 2012
Stock Options And Warrants Tables  
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 a non-qualified employee stock option plan. No new grants may be made under the 2000 stock option plan, which expired April 23, 2012.

 

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 - $0.20       790,642       8.77     $ 0.18       782,071     $ .18  
$ 0.21 - 0.99       -       -       -       -       -  
$ 1.00 - 3.00       95,000       3.15       2.22       95,000       2.22  
$ 3.01 - 5.99       95,000       3.40       4.05       95,000       4.05  
          980,642       7.71     $ 0.75       972,071     $ 0.75  

 

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

 

    Number of
Shares
    Weighted Average
Price Per Share
 
Outstanding at January 1, 2011     2,548,800     $ 1.57  
Granted            
Exercised            
Cancelled or expired     (1,863,800 )     1.10  
Outstanding at December 31, 2011     685,000     $ 1.45  
Granted     615,642       0.19  
Exercised            
Cancelled or expired     (320,000 )     1.16  
Outstanding at June 30, 2012     980,642     $ 0.75  
Non Employee Stock Option

Non-Employee Stock Options

      

Transactions involving options issued to non-employees are summarized as follows:

 

    Number of
Shares
    Weighted
Average Price
Per Share
 
Outstanding at January 1, 2011     425,000     $ 1.00  
Granted            
Exercised            
Canceled or expired            
Outstanding at December 31, 2011     425,000     $ 1.00  
Granted            
Exercised            
Canceled or expired     (425,000 )     1.00  
Outstanding at June 30, 2012         $  
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 the issuance of Series A and B redeemable 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       10,346,168       3.46     $ 0.13       10,346,168     $ 0.13  
  0.33       1,628,800       2.39       0.33       1,628,800       0.33  
  0.60       800,000       .85       0.60       800,000       0.60  
  3.01       962,330       2.00       3.01       962,330       3.01  
  4.17       359,712       .06       4.17       359,712       4.17  
          14,097,010       3.00     $ .48       14,097,010     $ .48  

 

Transactions involving warrants are summarized as follows:

 

    Number of
Shares
    Weighted Average
Price Per Share
 
Outstanding at January 1, 2011     22,104,742     $ 0.51  
Issued     5,336,816       0.20  
Canceled or expired     (12,729,694 )     0.34  
Outstanding at December 31, 2011     14,711,864       0.50  
Issued            
Exercised            
Canceled or expired     (614,854 )     1.04  
Outstanding at June 30, 2012     14,097,010     $ .48  

 

The Company did not issue any warrants during the six month period ended June 30, 2012.