Quarterly report pursuant to Section 13 or 15(d)

WARRANTS

v2.4.1.9
WARRANTS
 3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Note 13. WARRANTS

We have the following shares of common stock reserved for exercise of the warrants outstanding as of March 31, 2015:

 

    March 31, 2015  
          Weighted  
          Average  
          Exercise  
    Shares     Price  
Warrants outstanding – beginning of year     20,709,845     $ 0.23  
Warrants exercised     -       0.00  
Warrants granted     1,118,068       0.16  
Warrants expired     (3,886,800 )     (0.33 )
                 
Warrants outstanding – end of period     17,941,113     $ 0.20  

 

The weighted exercise price and weighted fair value of the warrants granted by us as of March 31, 2015, are as follows:

 

    March 31, 2015  
    Weighted        
    Average     Weighted  
    Exercise     Average  
    Price     Fair Value  
Weighted average of warrants granted during the three months whose exercise price exceeded fair market value at the date of grant   $ 0.16     $ 0.16  
                 

 

The following table summarizes information about fixed-price warrants outstanding:

 

      Number   Average      
Range of     Outstanding at   Remaining   Weighted  
Exercise     March 31,   Contractual   Average  
Prices     2015   Life   Exercise Price  
$ 0.33       1,284,000   1 Months   $ 0.33  
$ 0.33       120,000   2 Months   $ 0.33  
$ 0.33       249,600   3 Months   $ 0.33  
$ 0.46       600,000   5 Months   $ 0.46  
$ 0.46       150,000   10 Months   $ 0.46  
$ 0.85       40,000   13 Months   $ 0.85  
$ 0.40       333,333   17 Months   $ 0.40  
$ 0.33       439,637   22 Months   $ 0.33  
$ 0.16       750,000   24 Months   $ 0.16  
$ 0.30       964,912   40 Months   $ 0.30  
$ 0.30       4,824,561   41 Months   $ 0.30  
$ 0.06       7,067,002   43 Months   $ 0.06  
$ 0.16       1,118,068   47 Months   $ 0.16  
          17,941,113