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STOCK CAPITAL (Tables)

12 Months Ended

Dec. 31, 2015

	YEAR ENDED DECEMBER 31,
	2015					2014
			WEIGHTED					WEIGHTED
			AVERAGE					AVERAGE
	AMOUNT OF OPTIONS		EXERCISE PRICE			AMOUNT OF OPTIONS		EXERCISE PRICE

Outstanding at beginning of year		1,590,000		$	0.16		2,800,000		$	0.16
Granted		-		$	-		-		$	-
Exercised		-		$	-		-		$	-
Forfeited		1,590,000		$	0.16		1,210,000		$	0.21
Outstanding at end of year		-		$	-		1,590,000		$	0.16
Exercisable at end of year		-		$	-		1,590,000		$	0.16

Summary of Warrant Related Activity

ISSUANCE DATE

OUTSTANDING

AS OF

DECEMBER 31, 2015

EXERCISE PRICE

EXERCISABLE

AS OF

DECEMBER 31, 2014

EXERCISABLE THROUGH

January 2010 (1)

2,153,433

0.15

2,153,433

April 2018

(1)

In January 2010, the Company, together with a group of investors, or the Investors, paid to our note holders, or the Noteholders, a total of $3,000 in order to settle the entire $8,881 in convertible notes, or the Notes, that were outstanding at the time.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details