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Quarterly report pursuant to sections 13 or 15(d)

9. Stockholders' Equity (Tables)

v2.4.0.6
9. Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2012
Equity [Abstract]  
Assets and Liabilities
Cash and cash equivalents   $ 337  
Liabilities assumed     (21,206 )
Net   $ (20,869 )
Warranty Activity
                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
Warrants   Shares     Price     Term     Value  
                             
Balance Outstanding, December 31, 2011     456,000     $ 1.00              
  Granted     426,500     $ 1.00              
  Exercised     -       -              
  Forfeited     -       -              
  Expired     -       -              
Balance Outstanding, June 30, 2012     882,500     $ 1.00       4.4     $ -  
                                 
Exercisable, June 30, 2012     882,500     $ 1.00       4.4     $ -  
Compensation Expense for Stock Options Granted
    For the Six     For the Six  
    Months Ended     Months Ended  
Assumptions   June 30, 2012     June 30, 2011  
Expected life (years)     3.5       N/A  
Expected volatility     44.2 %     N/A  
Weighted-average volatility     44.2 %     N/A  
Risk-free interest rate     0.56% - 0.60 %     N/A  
Dividend yield     0.00 %     N/A  
Expected forfeiture rate     2.0 %     N/A  
Stock Options Activity to Employees
                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
Options   Shares     Price     Term     Value  
Balance Outstanding, December 31, 2011                          
  Granted     1,895,000     $ 1.00              
  Exercised     -                      
  Forfeited     (145,000 )   $ 1.00              
  Expired     -                      
Balance Outstanding, June 30, 2012     1,750,000     $ 1.00       4.7     $ -  
                                 
Expected to vest, June 30, 2012     1,714,500     $ 1.00       4.7     $ -  
                                 
Exercisable, June 30, 2012     -       N/A       N/A       N/A  
Stock Options Grants to Non-Employees
    For the Six     For the Six  
    Months Ended     Months Ended  
Assumptions   June 30, 2012     June 30, 2011  
Expected life (years)     3.5       N/A  
Expected volatility     44.2 %     N/A  
Weighted-average volatility     44.2 %     N/A  
Risk-free interest rate     0.60 %     N/A  
Dividend yield     0.00 %     N/A  

 

 

 

A summary of the Company’s stock option activity for non-employees during the six months ended June 30, 2012 is presented below:

 

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
Options   Shares     Price     Term     Value  
Balance Outstanding, December 31, 2011                          
  Granted     175,000     $ 1.00              
  Exercised     -                      
  Forfeited     -                      
  Expired     -                      
Balance Outstanding, June 30, 2012     175,000     $ 1.00       4.7     $ -  
                                 
Expected to vest, June 30, 2012     175,000     $ 1.00       4.7     $ -  
                                 
Exercisable, June 30, 2012     -       N/A       N/A       N/A