Quarterly report pursuant to Section 13 or 15(d)

WARRANTS (Tables)

v2.4.0.8
WARRANTS (Tables)
 9 Months Ended
Sep. 30, 2013
Warrants Tables  
Warrants outstanding

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

 

    September 30, 2013  
    Shares    

Weighted

Average

Exercise 

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 September 30, 2013, are as follows:

 

    September 30, 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   Weighted  
Range of     Outstanding at   Remaining   Average  

Exercise

Prices

    

September 30,

2013

  

Contractual

Life

  

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