Quarterly report pursuant to Section 13 or 15(d)

Stock Options and Warrants

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Stock Options and Warrants
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
Note 5 - 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, 2011     16,078,979     $ 0.19  
Granted     26,384,193       0.04  
Forfeited     3,619,027       0.17  
Exercised            
Outstanding as of March 31, 2012     38,844,145     $ 0.08  

 

Warrants

 

Following is a summary of the warrant activity:

 

    Warrants Outstanding     Weighted Average Exercise Price  
Outstanding as of December 31, 2011     105,001,252     $ 0.06  
Granted            
Forfeited            
Exercised            
Outstanding as of March 31, 2012     105,001,252     $ 0.06