Stock Options and Warrants

12 Months Ended

Dec. 31, 2013

Stock Options and Warrants [Text Block]

Note 8 - Stock Options and Warrants

Stock Options

The following is a summary of the Company’s stock option activity for the years ended December 31, 2013 and 2012:

				Weighted
				Average
				Exercise		Aggregate
	Options			Price		Intrinsic
	Outstanding			Price		Value
Outstanding at December 31, 2011	120,000		$	1.03	$	-
Granted	-			-
Canceled	(30,000	)		1.25
Exercised	-			-
Outstanding at December 31, 2012	90,000		$	0.95	$	-
Granted	-			-
Canceled	-			-
Exercised	-			-
Outstanding at December 31, 2013	90,000		$	0.95	$	-
Exercisable at December 31, 2013	90,000		$	0.95	$	-

The number and weighted average exercise prices of all options outstanding as of December 31, 2013, are as follows:

	Options Outstanding
					Weighted
				Weighted	Average
		Number		Average	Remaining
		Outstanding		Exercise	Contractual Life
	Exercise Price	December 31, 2013		Price	(Years)
$	0.80	60,000	$	0.80	2.94
$	1.25	30,000	$	1.25	0.43
		90,000

The number and weighted average exercise prices of all options exercisable as of December 31, 2013, are as follows:

	Options Exercisable
					Weighted
				Weighted	Average
		Number		Average	Remaining
		Outstanding		Exercise	Contractual Life
	Exercise Price	December 31, 2013		Price	(Years)
$	0.80	60,000	$	0.80	2.94
$	1.25	30,000	$	1.25	0.43
		90,000

Warrants

The following is a summary of the Company’s warrant activity for the years ended December 31, 2013 and 2012:

				Weighted
				Average
	Warrants			Exercise
	Outstanding			Price
Outstanding at December 31, 2011	521,664		$	1.70
Granted	-			-
Canceled	-			-
Exercised	-			-
Outstanding at December 31, 2011	521,664			1.70
Granted	-			-
Canceled/Expired	(521,664	)		1.70
Exercised	-			-
Outstanding at December 31, 2013	-		$	-
Exercisable at December 31, 2013	-		$	-