• Filing Date: 2014-08-14
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Note 7 - Options Outstanding
3 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 7 - OPTIONS OUTSTANDING


During 2013, ADM granted an aggregate of 5,600,000 stock options to employees and consultants expiring at various dates through fiscal 2015. During 2014, 5,000,000 of the outstanding stock options were exercised. The options had various exercise prices and were fully vested at the date of grant. The options were valued at $55,997 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 4.9%, volatility of 414%, estimated useful life of 1.5 years and dividend rate of 0%. The following table summarizes information on all common share purchase options issued by us as of June 30, 2014 and 2013.


   

2014

   

2013

 
                                 
   

# of Shares

   

Weighted

Average

Exercise

Price

   

# of Shares

   

Weighted

Average

Exercise

Price

 
                                 

Outstanding, beginning of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Issued

    -     $ -       -     $ -  
                                 

Exercised

    -     $ -       -     $ -  
                                 

Expired

    -     $ -       -     $ -  
                                 

Outstanding, end of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Exercisable, end of year

    600,000     $ 0.01       5,600,000     $ 0.01