Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants

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Stock Options and Warrants
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Stock Options and Warrants

 

Stock Options

 

Following is a summary of the stock option activity:

 

    Options Outstanding   Weighted Average Exercise Price
Outstanding as of December 31, 2010     13,934,651     $ 0.15  
Granted     2,066,491       0.09  
Forfeited     15,000       0.69  
Exercised     —         —    
Outstanding as of September 30, 2011     15,986,142     $ 0.11  

 

Warrants

 

Following is a summary of the warrant activity:

 

    Warrants Outstanding   Weighted Average Exercise Price
Outstanding as of December 31, 2010     80,041,252     $ 0.07  
Granted     6,882,500       0.13  
Forfeited     4,316,636       0.07  
Exercised     13,783,364       0.03  
Outstanding as of September 30, 2011     68,823,752     $ 0.09