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

WARRANTS (Tables)

v2.4.0.8
WARRANTS (Tables)
 3 Months Ended
Mar. 31, 2013
Warrants Tables  
Warrants outstanding

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

 

    March 31, 2013  
    Shares    

Weighted

Average

Exercise

Price

  
Warrants outstanding – beginning of year     6,711,733     $ 0.35  
Warrants exercised     -       -  
Warrants granted     515,637       0.33  
Warrants expired     -       -  
                 
Warrants outstanding – end of period     7,227,370     $ 0.33  
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 March 31, 2013, are as follows:

 

    March 31, 2013  
    Weighted        
    Average     Weighted  
    Exercise     Average  
    Price     Fair Value  
             
Weighted average of warrants granted during the quarter whose exercise price exceeded fair market value at the date of grant   $ 0.33     $ 0.46  
                 
Weighted average of warrants granted during the quarter 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     March 31,   Contractual   Average  
Prices     2012   Life   Exercise Price  
$ 0.33       5,588,400   18 Months   $ 0.33  
$ 0.46       600,000   29 Months   $ 0.46  
$ 0.46       150,000   34 Months   $ 0.46  
$ 0.85       40,000   32 Months   $ 0.85  
$ 0.40       333,333   32 Months   $ 0.40  
$ 0.33       515,637   58 Months   $ 0.33  
          7,227,370