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Stock Options and Warrants (Tables)

3 Months Ended

Mar. 31, 2015

Stock Options and Warrants [Abstract]


	Three Months Ended March 31, 2015
	Number of Options			Weighted Average Exercise Price
Options outstanding at December 31, 2014		3,560,065		$	0.24
Options granted		—			—
Options exercised		—			—
Options cancelled		—			—
Options expired		(256,508	)		.45
Options at end of period		3,303,557			.23
Options exercisable at March 31, 2015		2,880,223		$	.23

Schedule of Nonvested Options Activity


	Three Months Ended March 31, 2015
	Number of Options			Weighted Average Exercise Price
Nonvested options at December 31, 2014		675,014		$	0.16
Granted		—			—
Vested		(251,680	)		0.14
Forfeited		—			—
Nonvested options at March 31, 2015		423,334		$	0.17

Summary of Options Outstanding by Price Range


	Options Outstanding						Options Exercisable
Range of Exercise Price	Number Outstanding		Remaining Average Contractual Life (In Years)		Weighted Average Exercise Price		Number Exercisable		Weighted Average Exercise Price
0.17 – 0.34		3,303,557		1.72		0.23		2,880,223		0.23
Totals		3,303,557		1.72		0.23		2,880,223		0.23

Summary of Warrants Activity


	Three months ended March 31, 2015
	Weighted Average Exercise
	Warrants			Price
Warrants outstanding at December 31, 2014		1,068,280		$	0.37
Granted		158,751			0.25
Exercised		—			—
Expired		(47,619	)		0.50
Warrants outstanding at March 31, 2015		1,179,412		$	0.35

Summary of Warrants Outstanding by Price Range


	Warrants Outstanding
Range of Exercise Price	Number Outstanding		Remaining Average Contractual Life (In Years)		Weighted Average Exercise Price
$0.25 - $0.50		1,179,412		2.6	$	0.35
Totals		1,179,412		2.6	$	0.35

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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