SHARE CAPITAL (Tables)

12 Months Ended

Dec. 31, 2013

Share Capital Tables

Schedule of Change on Stock Options

The changes in stock options are as follows:

	Number			Weighted average exercise price
Balance outstanding, December 31, 2012		1,600,000		$	0.119
Granted		400,000			0.085
Granted		400,000			0.050
Exercised		(200,000	)		0.080
Expired		(200,000	)		0.080
Balance outstanding, December 31, 2013		2,000,000		$	0.107

Schedule of Fair Value Assumptions

The weighted average assumptions used in calculating the fair value of stock options granted and vested using the Black-Scholes option pricing model are as follows:

	December 31, 2013			December 31, 2012
Risk-fee interest rate		0.075 - 0.84	%		1.15	%
Expected life of the option	5 years			5 years
Expected volatility		260 - 278	%		228	%
Expected dividend yield		-			-

Scedule of Stock Options Outstanding

The following table summarized information about the stock options outstanding as at December 31, 2013:

Options outstanding			Options exercisable
Exercise price	Number of shares	Remaining contractual life (years)	Number of shares
$0.135	600,000	2.05	600,000
$0.130	600,000	3.22	600,000
$0.085	400,000	4.10	400,000
$0.050	400,000	4.16	400,000