Quarterly report pursuant to Section 13 or 15(d)

Warrants And Options

v2.4.1.9
Warrants And Options
3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Note 7 - Warrants And Options
a)   Warrants

 

Below is a table summarizing the warrants issued and outstanding as of March 31, 2015.

 

Date   Number     Exercise       Contractual       Expiration     Value if  
Issued   Outstanding     Price $       Life (Years)       Date     Exercised $  
03/15/11   200,000       0.50       5       3/15/2016       100,000  
03/24/11   100,000       0.50       5       3/24/2016       50,000  
04/01/11   100,000       0.50       5       4/1/2016       50,000  
06/21/11   100,000       0.50       5       6/21/2016       50,000  
07/13/11   250,000       1.05       5       07/13/16       262,500  
05/11/12   344,059       2.60       4       05/10/16       894,553  
05/11/12   26,685       1.75       3       05/10/15       46,699  
03/20/13   150,000       2.47       3       03/20/16       370,500  
                            to 12/20/19          
06/10/13   29,750       2.00       5       12/10/18       59,500  
08/07/13   45,000       2.40       3       08/07/16       108,000  
11/25/13   456,063       2.40       5       11/25/18       1,094,551  
12/31/13   64,392       2.40       5       11/25/18       154,541  
01/28/14   10,000       2.40       3       01/28/17       24,000  
02/26/14   1,505,975       2.20       5       02/26/19       3,313,145  
09/05/14   10,000       2.40       3       09/05/17       24,000  
09/26/14   24,000       3.00       3       09/26/17       72,000  
11/17/14   19,000       3.75       3       11/17/17       71,250  
                                       
03/31/15   3,434,924       1.96       4.7             6,745,239  

 

b)   Options

 

On August 5, 2014, it was approved at the Company’s Annual General Meeting to increase the number of restricted shares that the Company is authorized to issue under the 2011 Equity Incentive Plan to 2,000,000.

 

Below is a table summarizing the options issued and outstanding as of March 31, 2015.

 

Date   Number     Exercise     Contractual     Expiration     Value if  
Issued   Outstanding     Price $     Life (Years)     Date     Exercised $  
11/25/11     630,000       3.00-5.00       3       05/25/15-11/25/17       2,520,000  
09/01/12     30,000       4.31-6.31       3       03/01/16-09/01/18       159,300  
12/13/12     100,000       3.01       3       12/13/15       301,000  
03/20/13     37,000       2.35-4.35       3       09/20/16-03/20/19       123,950  
09/02/13     16,300       2.35-4.35       3       03/02/14-09/02/16       54,605  
05/16/14     25,000       3.00-5.00       3-5.5       11/16/17-05/16/20       100,000  
08/18/14     670,000       2.50-3.00       4.5-5.5       02/18/19-02/18/20       1,842,500  
08/18/14   60,000     3.00-5.00     3.5-6.0       02/18/18-08/18/20       240,000  
03/31/15     1,568,300       3.41     3.4         5,341,355  

 

Total remaining unrecognized compensation cost related to non-vested stock options is approximately $457,920 and is expected to be recognized over a period of three years.