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STOCK OPTION PLAN AND WARRANTS (Tables)
 9 Months Ended
Sep. 30, 2015
STOCK OPTION PLAN AND WARRANTS [Abstract]  
Summary of the status of stock options
A summary of the status of stock options outstanding under the Plan as of September 30, 2015 and December 31, 2014 is as follows:
 
  
9/30/2015
  
12/31/2014
 
  
Number of
Options
  
Weighted
Average
Exercise
Price
  
Number of
Options
  
Weighted
Average
Exercise Price
 
Outstanding at beginning of year
  
11,033,675
  
$
1.05
   
9,583,762
  
$
1.16
 
Granted
  
6,299,600
  
$
0.29
   
2,372,800
  
$
0.58
 
Exercised
  
-
  
$
-
   
-
  
$
-
 
Expired and Cancelled
  
(3,295,240
)
 
$
1.17
   
(922,887
)
 
$
0.99
 
   
14,038,035
       
11,033,675
     
                 
Outstanding, end of period
  
14,038,035
  
$
0.69
   
11,033,675
  
$
1.05
 
                 
                 
Exercisable at end of period
  
7,738,435
  
$
0.88
   
11,033,675
  
$
1.05
 
Stock options valuation assumptions
The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option valuation model.  This model uses the assumptions listed in the table below for stock options granted in 2015.  Expected volatilities are based on the historical volatility of the Company’s stock.  The risk-free rate for periods within the expected life of the options is based on the U.S. Treasury yield curve in effect at the time of grant.
 
  
9/30/2015
 
Weighted average fair value per option granted
  
0.1431 - .3606
 
Risk-free interest rate
  
1.00% - 1.54
%
Expected dividend yield
  
0.00
%
Expected lives
  
2.688 - 3.00
 
Expected volatility
  
86.22% - 120.51
%
Summary of warrant activity
As of September 30, 2015, the Company has warrants outstanding to purchase 49,283,205 shares of the Company’s common stock, at prices ranging from $0.35 to $1.45 per share.  These warrants expire at various dates through November 2020.  The summary of the status of the warrants issued by the Company as of September 30, 2015 and December 31, 2014 are as follows:
 
Z TRIM HOLDINGS, INC.
SUMMARY OF WARRANTS
 
  
9/30/2015
  
12/31/2014
 
  
Number of
Warrants
  
Weighted
Average
Exercise Price
  
Number of
Warrants
  
Weighted
Average
Exercise Price
 
Outstanding at beginning of year
  
16,446,351
  
$
1.45
   
16,688,265
  
$
1.44
 
Granted
  
86,275,799
  
$
0.42
   
-
  
$
-
 
Exercised
  
(53,095,204
)
 
$
0.66
   
-
  
$
-
 
Cashless Exercises
  
-
  
$
-
   
-
  
$
-
 
Expired and Cancelled
  
(218,571
)
 
$
0.66
   
(241,914
)
 
$
0.87
 
   
49,408,375
       
16,446,351
     
                 
Outstanding, end of period
  
49,408,375
  
$
0.50
   
16,446,351
  
$
1.45
 
                 
Exercisable at end of period
  
49,408,375
  
$
0.50
   
16,446,351
  
$
1.45