Warrants and Options

3 Months Ended

Apr. 30, 2015

Notes

Warrants and Options

NOTE 6: WARRANTS AND OPTIONS

The following table represents the number of options currently granted under the 2012 Employee Stock Option Plan:

Options Outstanding
		Remaining	Exercise Price		Weighted
	Number of	Contractual Life	times Number		Average
Exercise Price	Shares	(in years)	of Shares		Exercise Price
$0.10	5,000,000	2.50	$	500,000	$0.10
$0.25	1,500,000	2.50		375,000	$0.25
	6,500,000		$	875,000	$0.20

Options Activity		Weighted
	Number	Average
	of Shares	Exercise Price
Outstanding at January 31, 2015	6,500,000	$0.20
Issued	––	––
Exercised	––	––
Expired / Cancelled	––	––
Outstanding at April 30, 2015	6,500,000	$0.20

As of April 30, 2015 and January 31, 2015, the Company has granted a total of 6,500,000 options to purchase common stock shares. In connection with the options granted, a total of $2,665,000 has been recorded as deferred compensation, of which $51,250 and $205,000 has been expensed during the three months ended April 30, 2015 and the year ended January 31, 2015, respectively. There remains $102,500 and $153,250 of deferred compensation as of April 30, 2015 and January 31, 2015, respectively.