STOCK OPTION PLANS

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(4) STOCK OPTION PLANS

We have several stock option plans under which nonqualified stock options were granted to officers, directors, other employees, consultants and advisors of the Company. In general, options granted under the Company’s stock option plans expire after a ten-year period and generally vest no later than three years from the date of grant. As of September 30, 2015, there were no shares available for grant under the Company’s stock option plans.

There were no stock option grants or exercises during each of the nine months ended September 30, 2015 and 2014.

 Stock option activity during the nine months ended September 30, 2015 was as follows:

			Weighted
			Average Exercise
	Total Options		Price
Outstanding at December 31, 2014		4,000,000	$	0.14
Granted		—
Exercised		—
Expired		3,900,000		—
Outstanding at September 30, 2015		100,000	$	0.14
Options exercisable at September 30, 2015		100,000	$	0.14

Each of the weighted-average remaining contractual terms of stock options outstanding and stock options exercisable at September 30, 2015 were 0.9 years. The aggregate intrinsic value of both options outstanding and stock options exercisable at September 30, 2015 was $0.

Stock compensation cost is recognized on a straight-line basis over the vesting period. At September 30, 2015, there was no unrecognized compensation expense related to unvested stock options.

The Company estimates the fair value of each stock option at the grant date by using the Black Scholes option-pricing model using the following assumptions: no dividend yield; a risk free interest rate based on the U.S. Treasury yield in effect at the time of grant; an expected option life based on historical and expected exercise behavior; and expected volatility based on the historical volatility of the Company’s stock price over a time period that is consistent with the expected life of the option.