Annual report pursuant to section 13 and 15(d)

4. STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)

v2.4.0.6
4. STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2012
Stock Option Plan And Stock-Based Compensation Tables  
Activity under Stock Plans

The following table summarizes the activity under the Stock Plans.

 

    Shares     Price per Share     Weighted Average Exercise Price  
Outstanding, December 31, 2010     78,400     $ 1.85     $ 1.85  
                         
Granted     1,921,237     0.10 to 0.25       0.13  
Exercised     -       -       -  
Options forfeited/cancelled     (421,237 )     -       0.25  
Outstanding, December 31, 2011     1,578,400     0.10 to 1.85       0.19  
                         
Granted     6,130,000     0.10 to 0.50       0.48  
Exercised     -       -       -  
Options forfeited/cancelled     -       -       -  
                         
Outstanding, December 31, 2012     7,708,400     $ 0.10 to 1.85     $ 0.42  

                    

Information about stock options vested or expected to vest

The following table summarizes information about stock options that are vested or expected to vest at December 31, 2012:

 

  Vested  or  Expected  to Vest           Exercisable  Options      
            Weighted   Weighted                 Weighted   Weighted      
            Average   Average                 Average   Average      
            Exercise   Remaining     Aggregate           Exercise   Remaining     Aggregate
  Exercise   Number of     Price Per   Contractual     Intrinsic     Number of     Price   Contractual     Intrinsic
  Price   Options     Share   Life (Years)     Value     Options     Per Share   Life (Years)     Value
$ 0.10   1,800,000   $ 0.10   3.87   $ 576,000     1,306,250   $ 0.10   3.93   $ 418,000
  1.85   78,400     1.85   2.75     -     78,400     1.85   2.75     -
  0.50   5,830,000     0.50   5.13                   -     934,167     0.50   5.95                   -
$ 0.10-1.85   7,708,400   $ 0.42   4.81   $ 576,000     2,318,817   $ 0.32   4.71   $ 418,000