Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Stockholders' Equity

Note 9 Stockholders’ Equity

(A) Common Stock Transactions

2013

As a result of the reverse merger (see Note 1) the Company had a deemed issuance of 800,000 shares of common stock.

From July 1, 2013 through September 30, 2013, the Company issued 2,771,334 shares of common stock to investors in exchange for $4,157,000 in proceeds in connection with the private placement of the Company’s stock. The Company incurred $1,123,498 in stock issuance costs in conjunction with the placement.

(B) Options

The following is a summary of the Company’s option activity:

	Options		Weighted Average Exercise Price
Outstanding – January 01, 2012		-	$	-
Exercisable – January 01, 2012		-	$	-
Granted		223,404	$	1.00
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – December 31, 2012		223,404	$	1.00
Exercisable – December 31, 2012		223,404	$	1.00
Granted		318,000	$	1.00
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – September 30, 2013		541,404	$	1.00
Exercisable – September 30, 2013		420,923	$	1.00

Options Outstanding					Options Exercisable
Range of exercise price		Number Outstanding		Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$	1.00		541,404	4.10 years	$	1.00	420,923	$	1.00

At September 30, 2013 and December 31, 2012, the total intrinsic value of options outstanding and exercisable was $541,404 and $0, respectively.

(C) Warrants

The following is a summary of the Company’s warrant activity:

	Warrants		Weighted Average Exercise Price
Outstanding – January 01, 2012		-	$	-
Exercisable – January 01, 2012		-	$	-
Granted		505,400	$	1.00
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – December 31, 2012		505,400	$	1.00
Exercisable – December 31, 2012		505,400	$	1.00
Granted		277,134	$	1.50
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – September 30, 2013		782,534	$	1.18
Exercisable – September 30, 2013		782,534	$	1.18

Warrants Outstanding					Warrants Exercisable
Range of exercise price		Number Outstanding		Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$	1.00-$1.50		782,534	4.17 years	$	1.18	782,534	$	1.18

At September 30, 2013 and December 31, 2012, the total intrinsic value of warrants outstanding and exercisable was $643,967 and $0, respectively.