Annual report pursuant to Section 13 and 15(d)

STOCKHOLDER'S EQUITY (Tables)

v2.4.1.9
STOCKHOLDER'S EQUITY (Tables)
12 Months Ended
Dec. 31, 2014
Stockholders Equity Tables  
Schedule Fair Value Options
  Year Ended  
  December 31,  
  2014   2013  
         
Exercise Prices $1.65   $1.19 - $1.88  
Risk-free interest rates 1.65%   0.78% - 1.24%  
Expected option life in years 5 years   5 years  
Expected stock price volatility 42.65%   43.54% - 44.31%  
Expected dividend yield 0.00%   0.00%  
summary of stock option activity
    2014     2013  
          Weighted           Weighted  
          Average           Average  
    Options     Exercise     Options     Exercise  
    Outstanding     Price     Outstanding     Price  
                         
Options outstanding at beginning of year     4,282,500       $0.91       5,582,500       $0.78  
Granted     280,000       $1.65       400,000       $1.71  
Expired                 (297,500 )     $0.66  
Exercised     (1,612,500 )     $0.39       (1,402,500     $0.69  
                                 
Options outstanding at end of year     2,950,000       $1.27       4,282,500       $0.91  
                                 
Options exercisable at end of year     2,637,503       $1.24       3,790,834       $0.84  
Summary of stock options outstanding and exercisable
            Weighted        
        Weighted   Average       Weighted
Range of       Average   Remaining       Average
Exercise   Options   Exercise   Life in   Options   Exercise
Price   Outstanding   Price   Years   Exercisable   Price
                     
$0.83 - $1.88   2,950,000   $1.27   3.71   2,637,503   $1.24
                     
                     
Outstanding warrants to purchase shares
Number of   Exercise    
Warrants   Price   Expiration Date
         
250,000   $2.10   May 21, 2018
250,000   $1.40   May 21, 2018
125,000   $2.10   July 26, 2018
125,000   $1.40   July 26, 2018
750,000