Stockholders' Deficiency (Tables)

3 Months Ended

Mar. 31, 2014

Stockholders Deficiency Tables

Summary of Stock Option Activity

A summary of the stock option activity during the three months ended March 31, 2014 is presented below:

						Weighted
				Weighted		Average
				Average		Remaining
	Number of			Exercise		Life		Intrinsic
	Options			Price		In Years		Value
Outstanding, January 1, 2014		2,543,150		$	2.37
Granted		-			-
Exercised		-			-
Forfeited		(29,000	)		3.22
Outstanding, March 31, 2014		2,514,150		$	2.36		5.7	$	-
Exercisable, March 31, 2014		1,398,475		$	2.78		4.1	$	-

Summary of Stock Option Outstanding and Exercisable

The following table presents information related to stock options at March 31, 2014:

		Options Outstanding				Options Exercisable
Range of Exercise Price		Weighted Average Exercise Price		Outstanding Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Life In Years		Exercisable Number of Options
$	0.30 - $2.20	$	1.11		1,339,400	$	1.58		2.6		573,725
$	2.21 - $3.80		3.23		757,750		2.95		3.8		507,750
$	3.81 - $6.99		4.79		417,000		4.66		7.5		317,000
		$	2.36		2,514,150	$	2.78		4.1		1,398,475

Schedule of Stock Warrants Granted

In applying the Black-Scholes option pricing model to stock warrants, the Company used the following weighted average assumptions:

	March 31,
	2014	2013
Risk free interest rate	1.74%	0.88%
Dividend yield	0.00%	0.00%
Expected volatility	171.0%	164.3%
Expected life in years	5.00	5.00

Summary of Stock Warrant Activity

A summary of the stock warrant activity during the three months ended March 31, 2014 is presented below:

			Weighted		Average
			Average		Remaining
	Number of		Exercise		Life		Intrinsic
	Warrants		Price		In Years		Value
Outstanding, January 1, 2014		2,342,846	$	0.96
Granted		150,000	$	0.35
Exercised		-	$	-
Forfeited		-		-
Outstanding, March 31, 2014		2,492,846	$	0.92		3.7	$	-
Exercisable, March 31, 2014		2,242,846	$	0.70		3.8	$	-

Summary of Stock Warrants Outstanding and Exercisable

The following table presents information related to stock warrants at March 31, 2014:

		Warrants Outstanding				Warrants Exercisable
Range of Exercise Price		Weighted Average Exercise Price		Outstanding Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Life In Years		Exercisable Number of Warrants
$	0.25 - $0.35	$	0.27		1,900,000	$	0.27		4.1		1,900,000
$	0.36 - $3.00		2.91		562,846		2.91		2.4		312,846
$	3.01 - $4.95		4.95		30,000		4.95		3.5		30,000
$	0.25 - $4.95	$	0.92		2,492,846	$	0.70		3.8		2,242,846