General form of registration statement for all companies including face-amount certificate companies

WARRANTS (Tables)

v2.4.0.8
WARRANTS (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Warrants Tables    
Warrants outstanding

The Company has the following shares of common stock reserved for the warrants outstanding as of June 30, 2014:

 

    June 30, 2014  
          Weighted  
          Average  
          Exercise  
    Shares     Price  
Warrants outstanding – beginning of year     19,550,817     $ 0.17  
Warrants exercised     (9,367,287 )     0.19  
Warrants granted     5,701,754       0.30  
Warrants expired     -       -  
                 
Warrants outstanding – end of period     15,885,284     $ 0.21  

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
    June 30, 2014  
    Weighted        
    Average     Weighted  
    Exercise     Average  
    Price     Fair Value  
             
Weighted average of warrants granted during the three months whose exercise price exceeded fair market value at the date of grant   $ 0.30     $ 0.45  
                 
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   $ -     $ -  

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
      Number     Average        
Range of     Outstanding at     Remaining     Weighted  

Exercise

Prices

    

June 30,

2014

    

Contractual

Life

    

Average

Exercise Price

  
                         
$0.33     5,540,400     13 Months     $0.33  
$0.46     600,000     13 Months     $0.46  
$ 0.46     150,000     7 Months     $0.46   
$0.85     40,000     10 Months     $0.85  
$0.40     333,333     14 Months     $0.40  
$0.33     439,637     17 Months     $0.33  
$ 0.16     750,000     21 Months     $0.16  
$0.06     7,067,002     51 Months     $0.06  
$0.30     964,912     47 Months     $0.30  
        15,885,284                

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