Annual report pursuant to Section 13 and 15(d)

Stock Options (Tables)

v2.4.1.9
Stock Options (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Option Activity

Stock option activity is presented in the table below:

 

      Number of
Shares
    Weighted
average
Exercise Price
    Weight average
Contractual
Term (years)
    Aggregate
Intrinsic Value
 
                           
Outstanding at December 31, 2012       5,290,640     $ 0.03       7.95        
                                   
Granted       4,820,000       0.05       3.00        
                                   
Outstanding at December 31, 2013       10,110,640       .08       2.75        
                                   
Granted       16,100,000       0.15       10.00        
Exercised       (448,993 )     (0.05       (3.00 )        
                                   
Outstanding at December 31, 2014       25,761,647     $ 0.09       6.20        

Schedule of Stock Compensation Expense

The Company recognized stock compensation expense as follows:

 

Year ended
December 31, 2014
    Year ended
December 31, 2013
 
$ 5,224,258     $ 1,903,606  
             

 

Schedule of Fair Value of Stock Option

The fair value of the options granted during the various periods was estimated at the date of grant using the Black-Scholes option-pricing model and the following assumptions:

 

    2014     2013  
Year Options were granted            
Market value of stock on grant date   $ .30 - .35     $ .05 -.25  
Risk-free interest rate     .61 %     .61 %
Dividend Yield     0 %     0 %
Volatility Factor     300 %     300 %
Weighted average expected life     10 years       3 years  
Expected forfeiture rate     0 %     0 %

Schedule of Stock Option Plan Activity

Stock option under the Incentive Stock Option Plan activity is presented in the table below:

 

      Number of Shares     Weighted average Exercise Price     Weight average Contractual
Term (years)
 
                     
Outstanding at December 31, 2012           $        
                           
Granted                          
                           
Outstanding at December 31, 2013           $        
                           
Granted       700,000       0.15       3.00  
                           
Outstanding at December 31, 2014       700,000     $ 0.15       3.00