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Common Stock Warrants and Stock Based Compensation
3 Months Ended
Dec. 30, 2012
Common Stock Warrants And Stock Based Compensation  
Note 4 - Common Stock Warrants and Stock Based Compensation

 

Common Stock Warrants. As of December 30, 2012, warrants to purchase a total of 33,616,000 shares of the Company’s common stock were outstanding, with a weighted average exercise price of $0.20 per share and exercise prices ranging from $0.07 per share to $13.00 per share.

 

Stock Options.  At December 30, 2012, the Company had 51.1 million options outstanding with a weighted average exercise price of $0.25, and 37.2 million options exercisable with a weighted average exercise price of $0.30.  The unvested options outstanding and options exercisable had no aggregate intrinsic value. During the 13-week period ended December 30, 2012, there were no options granted or exercised.

 

Employee Stock Benefit Plan.    The Company has established an employee retirement plan, the ESBP. This plan provides for annual contributions to the Company’s Employee Stock Bonus Trust (“SBT”) to be determined by the Board of Directors and which will not exceed 15% of total payroll.  Relating to Fiscal 2012 the Company made a contribution of 6.0 million shares of common stock with an estimated market value of $600,000 to the SBT.