Note 4 - Common Stock Options and Warrants

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

4. Common Stock Options and Warrants. As of December 31, 2013 there were 2,287,500 shares reserved as unexercised warrants and 1,752,792 shares reserved as unexercised options. No warrants or options expired in the first quarter of 2014. During the second quarter ended June 30, 2014, the following took place:

a. On April 30, 2014, 200,000 options owned by Steve Chen expired unexercised. Dr. Chen was granted the options on April 30, 2009 at an exercise price of $0.125 for a term of five (5) years;

b. Asher Enterprises/Hope Capital, Inc. (“Asher/Hope”) received warrants when outstanding debt was converted to common equity. The warrants were given as required by the loan contracts and security agreements on two loans provided to the Company by Asher/Hope. On April 15, 2011, Asher/Hope received 787,500 warrants with a term of three (3) years and an exercise price of $0.04 which expired unexercised on April 15, 2014. On May 27, 2011, Asher/Hope received 500,000 warrants with a term of three (3) years and an exercise price of $0.04 which expired unexercised on May 27, 2014.

No warrants or options expired in the third quarter of 2014.

A summary of the Company’s stock option activity and related information for the period ended September 30, 2014 is as follows:

	Options		Price Range
Outstanding December 31, 2013		1,752,792	$	0.040-0.125
Granted		-		-
Cancelled/Expired		200,000		0.125
Exercised		-		-
Outstanding September 30, 2014		1,552,792		0.040-0.065
Exercisable September 30, 2014		1,552,792	$	0.040-0.065

A summary of the Company’s stock warrant activity and related information for the period ended September 30, 2014 is as follows:

	Warrants		Price Range
Outstanding December 31, 2013		2,287,500	$	0.03-0.04
Granted		-		-
Cancelled/Expired		1,287,500		0.04
Exercised		-		-
Outstanding September 30, 2014		1,000,000		0.03
Exercisable September 30, 2014		1,000,000	$	0.03