Quarterly report pursuant to Section 13 or 15(d)

WARRANTS (Tables)

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

The Company has the following shares of common stock reserved for the warrants outstanding as of June 30, 2013:

 

    June 30, 2013  
          Weighted  
          Average  
          Exercise  
    Shares     Price  
                 
Warrants outstanding – beginning of year     6,711,733     $ 0.35  
Warrants exercised     -       -  
Warrants granted     2,028,137       0.19  
Warrants expired     -       -  
                 
Warrants outstanding – end of period     8,739,870     $ 0.32  
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 June 30, 2013, are as follows:

 

    June 30, 2013  
    Weighted        
    Average     Weighted  
    Exercise     Average  
    Price     Fair Value  
             
Weighted average of warrants granted during the six months whose exercise price exceeded fair market value at the date of grant   $ 0.32     $ 0.46  
                 
Weighted average of warrants granted during the six 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:

 

Range of

Exercise Prices

   

Number 

Outstanding at June 30, 2013

   

 Average

Remaining Contractual Life

   

Weighted Average

Exercise Price

 
                     
$0.33       5,588,400     15 Months     $0.33  
$0.46       600,000     26 Months     $0.46  
$0.46       150,000     31 Months     $0.46  
$0.85       40,000     29 Months     $0.85  
$0.40       333,333     29 Months     $0.40  
$0.33       515,637     55 Months     $0.33  
$0.16       875,000     57 Months     $0.16  
$0.11       637,500     58 Months     $0.11  
        8,739,870