XML 41 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Common Stock (Tables)
6 Months Ended
Jun. 30, 2013
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Summary of all stock option plans during the period ended June 30, 2013 is as follows:
 
 
 
Number of
Shares
 
Weighted
Average Price
 
Options outstanding at December 31, 2012
 
 
18,030,582
 
$
0.083
 
Granted
 
 
3,500,000
 
$
0.092
 
Cancelled
 
 
(1,500,000)
 
$
0.145
 
Exercied
 
 
-
 
$
-
 
Options outstanding at June 30, 2013
 
 
20,030,582
 
$
0.080
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of the Company's option grants under the 2012, 2011, and 2002 Plans were estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
 
 
June 30, 2013
 
June 30, 2012
 
Expected term (based upon historical experience)
 
 
5-6 years
 
 
<1 week
 
Expected volatility
 
 
130.36
%
 
115.86
%
Expected dividends
 
 
None
 
 
None
 
Risk free interest rate
 
 
0.01
%
 
0.08
%
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The stock volatility for each grant is determined based on a review of the experience of the weighted average of historical daily price changes of the Company's common stock over the expected option term. The expected term was determined using the simplified method for estimating expected option life, which qualify as “plain-vanilla” options; and the risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.
 
Exercise Prices
 
Number of
Shares
 
Weighted
Average
Remaining
Contractual Life
 
Aggregate
Intrinsic Value*
 
$
0.001
 
 
30,582
 
 
1.37
 
$
2,263
 
$
0.041
 
 
5,000,000
 
 
9.34
 
$
170,000
 
$
0.048
 
 
2,000,000
 
 
9.34
 
$
54,000
 
$
0.065
 
 
5,000,000
 
 
9.11
 
$
50,000
 
$
0.092
 
 
3,500,000
 
 
9.90
 
$
-
 
$
0.145
 
 
4,500,000
 
 
8.37
 
$
-
 
weighted
 
 
20,030,582
 
 
9.15
 
$
276,263
 
 
*The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option.
Non Qualified Stock Option 2012 Plan [Member]
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Information with respect to stock options granted under this plan during the period ended June 30, 2013 is as follows:
 
 
 
 
Number of shares
 
Weighted average
exercise price per
share
 
Options outstanding at December 31, 2012
 
 
7,000,000
 
$
0.043
 
Granted
 
 
2,000,000
 
 
0.092
 
Exercised
 
 
 
 
 
Options outstanding at June 30, 2013
 
 
9,000,000
 
$
0.054
 
Non Qualified Stock Option 2011 Plan [Member]
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Information with respect to stock options granted under this plan during the period ended June 30, 2013 is as follows:
 
 
 
Number of
shares
 
Weighted
average exercise
price per share
 
Options outstanding at December 31, 2012
 
 
3,000,000
 
 
0.145
 
Granted
 
 
1,500,000
 
 
0.092
 
Cancelled or Expired
 
 
(1,500,000)
 
 
0.145
 
Exercised
 
 
-
 
 
-
 
Options outstanding at June 30, 2013
 
 
3,000,000
 
 
0.118
 
 
Stock Option Plan 2002 [Member]
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Information with respect to stock options granted under this plan during the period ended June 30, 2013 is as follows:
 
 
 
Number of
shares
 
Weighted
average exercise
price per share
 
Options outstanding at December 31, 2012
 
 
8,000,000
 
 
$
0.095
 
Granted
 
 
-
 
 
 
-
 
Cancelled or Expired
 
 
-
 
 
 
-
 
Exercised
 
 
-
 
 
 
-
 
Options outstanding at June 30, 2013
 
 
8,000,000
 
 
$
0.095
 
Non Qualified Stock Option Plan 2001 [Member]
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Information with respect to stock options granted under this plan during the period ended June 30, 2013 is as follows:
 
 
 
Number of
shares
 
 
Weighted
average exercise
price per share
 
Options outstanding at December 31, 2012
 
 
30,582
 
 
$
0.001
 
Granted
 
 
-
 
 
 
-
 
Cancelled or Expired
 
 
-
 
 
 
-
 
Exercised
 
 
-
 
 
 
-
 
Options outstanding at June 30, 2013
 
 
30,582
 
 
$
0.001