Stock Options (Tables)

6 Months Ended

Jun. 30, 2013

Stock Options Tables

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable at June 30, 2013:

		Number of Share Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value(1)
Outstanding at December 31, 2012			810,000	$	0.64		4.06	$	—
Granted			—	$	—		—	$	—
Exercised			—	$	—		—	$	—
Forfeited or Cancelled			—	$	—		—	$	—
Outstanding at June 30, 2013			810,000	$	0.64		3.57	$	—
Exercisable at June 30, 2013			625,000	$	0.80		3.81	$	—
Vested and expected to vest (2)			810,000	$	0.64		3.57	$	—
(1)	Aggregate intrinsic value represents the value of the closing price per share of our common stock on the last trading day of the fiscal period in excess of the exercise price multiplied by the number of options outstanding or exercisable, except for the “Exercised” line, which uses the closing price on the date exercised.
(2)	Number of shares includes options vested and those expected to vest net of estimated forfeitures.

Unvested share activity

 Unvested share activity for the six months ended June 30, 2013 is summarized below:

	Unvested Number of Options			Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2012		236,000		$	0.04
Granted		—		$	—
Vested		(50,000	)	$	0.11
Forfeited		—		$	—
Unvested balance at June 30, 2013		186,000		$	0.07

Fair Value of Stock options

The fair values of all stock options granted during the six months ended June 30, 2013 and 2012 were estimated on the date of grant using the Black-Scholes option-pricing model with the following range of assumptions:

	For the six months ended
	June 30, 2013		June 30, 2012
Expected life (in years)		—		6.5
Average risk-free interest rate		—		1.66	%
Expected volatility		—		108	%
Expected dividend yield		—		0	%
Forfeiture rate		—		3	%