• Filing Date: 2012-11-19
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v2.4.0.6
14. WARRANT EXERCISE
9 Months Ended
Sep. 30, 2012
Warrant Exercise  
Note 14. WARRANT EXERCISE

 

 

The weighted average assumptions made in calculating the fair value of warrants granted during the three and nine months ended September 30, 2012 and 2011 are as follows:

 

   

Three Months Ended

September 30

   

 Nine Months Ended

September 30

 
    2012     2011      2012     2011  
                                 
Expected volatility     52.88%       56.83%       52.88%       56.83%  
Expected dividend yield     -       -       -       -  
Risk-free interest rate     .3%       1.07%       .3%       1.07%  
Expected term (in years)     3.5       3       3.5       3  

 

  

    Share    

Weighted

Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Term

   

Aggregate

Intrinsic

Value

 
                         
Outstanding, January 1, 2012     12,570,642     $ .48       1.84     $ 1,790,733   
Granted     1,730,556     $ .60       3.59          
Exercised     -       -                  
Cancelled     (2,524,877     -                  
Outstanding, September 30, 2012     11,776,321     $ .45       1.71       925,250   
                                 
Warrants exercisable, September 30, 2012     11,776,321     $ .45       1.71     $ 925,250