Common Stock Options (Tables)

6 Months Ended

Jun. 30, 2014

Stock Option Activity

The following table summarizes stock option activity for the period ended June 30, 2014.

	Options Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Balance January 1, 2014		80,000	$	0.70		9.13	$	20,000
Options granted		55,000		1.05		9.75	$	0
Balance June 30, 2014		135,000	$	0.84		9.38	$	14,850
Exercisable at June 30, 2014		20,000	$	0.70		9.13	$	5,000

Assumptions required for the Black-Scholes model

Assumptions required for the Black-Scholes model are as follows:

Weighted average risk-free interest rate	1.62%
Expected life in years	5.00 Years
Weighted Avg Expected Volatility	90.9%
Expected dividend yield	0%

Stock Options

Assumptions required for the Black-Scholes model

The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below:

Weighted average risk-free interest rate	1.43 – 1.62%
Expected life in years	4.50 – 5.50
Weighted Avg. Expected Volatility	99.5% – 105.3%
Expected dividend yield	0%