Annual report pursuant to Section 13 and 15(d)

WARRANTS (Tables)

v2.4.0.8
WARRANTS (Tables)
 12 Months Ended
Dec. 31, 2013
Warrants Tables  
Warrants outstanding

The Company has the following shares of common stock reserved for the warrants outstanding as of December 31, 2013:

 

    December 31, 2013  
          Weighted  
          Average  
          Exercise  
    Shares     Price  
Warrants outstanding – beginning of year     6,711,733     $ 0.35  
Warrants exercised     -       -  
Warrants granted     12,839,084       0.08  
Warrants expired     -       -  
                 
Warrants outstanding – end of period     19,550,817     $ 0.17  
Weighted exercise price and weighted fair value of the warrants granted

The weighted exercise price and weighted fair value of the warrants granted by the Company as of December 31, 2013, are as follows:

 

    December 31, 2013  
 
 
 
 		  
 
 
 		 Weighted
Average
Exercise
Price 		 
 
 
 		  
 
 
 		  
Weighted
Average
Fair Value 		 
 
 
 
             
Weighted average of warrants granted during the nine months whose exercise price exceeded fair market value at the date of grant   $ 0.32     $ 0.46  
                 
Weighted average of warrants granted during the nine months whose exercise price was equal or lower than fair market value at the date of grant   $ -     $ -  
Summarizes information about fixed-price warrants outstanding

The following table summarizes information about fixed-price warrants outstanding:

 

      Number   Average      
Range of     Outstanding at   Remaining   Weighted  
Exercise     December 31,   Contractual   Average  
Prices     2013   Life   Exercise Price  
$ 0.33       5,588,400   9 Months   $ 0.33  
$ 0.46       600,000   20 Months   $ 0.46  
$ 0.46       150,000   25 Months   $ 0.46  
$ 0.85       40,000   16 Months   $ 0.85  
$ 0.40       333,333   20 Months   $ 0.40  
$ 0.33       515,637   48 Months   $ 0.33  
$ 0.13       352,978   51 Months   $ 0.13  
$ 0.16       875,000   51 Months   $ 0.16  
$ 0.12       116,674   52 Months   $ 0.12  
$ 0.11       102,733   52 Months   $ 0.11  
$ 0.05       267,391   55 Months   $ 0.05  
$ 0.06       10,608,671   57 Months   $ 0.06  
          19,550,817