3. Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Black-Scholes option pricing model assumptions

	2015
Risk free interest rate		1.61 – 1.97	%
Dividend yield		0	%
Expected term	5-10 years
Expected volatility		41.2 – 54.2	%

Options outstanding

	Options outstanding
	Number of shares			Weighted average exercise price per share
Balance at December 31, 2014		1,264,000		$	0.26
Options granted		20,000			0.20
Options exercised		--			--
Options expired or forfeited		(1,000	)		0.24
Balance at March 31, 2015		1,283,000		$	0.26

	Options outstanding
	Number of shares		Weighted average exercise price per share
Balance at December 31, 2013		1,187,000	$	0.26
Options granted		--		--
Options exercised		--		--
Options expired or forfeited		--		--
Balance at March 31, 2014		1,187,000	$	0.26

Options Summary

Options outstanding								Options exercisable
Total shares		Weighted average exercise price		Weighted average remaining contractual life in years		Aggregate intrinsic value		Total shares		Weighted average exercise price		Weighted average remaining contractual life in years		Aggregate intrinsic value
	1,283,000	$	0.26		5.36	$	42,258		1,059,500	$	0.28		4.56	$	30,602

Nonvested Stock awards

	Nonvested
	Number of shares			Weighted average grant date fair value
Balance at December 31, 2014		209,500		$	0.07
Granted		20,000			0.11
Vested		(5,000	)		0.08
Expired before vesting		(1,000	)		0.10
Balance at March 31, 2015		223,500		$	0.08