Annual report pursuant to Section 13 and 15(d)

Share-based Payments (Tables)

v2.4.1.9
Share-based Payments (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation Warrants Activity

                  Weighted        
                  Average        
            Weighted     Remaining     Aggregate  
      Number of     Average     Contractual     Intrinsic  
      Shares     Exercise Price     Term (years)     Value  
Balance at December 31, 2013       1,989     $ 71.76                  
Granted       -       -                  
Exercised       -       -                  
Forfeited       -       -                  
Canceled/Expired       -       -                  
Balance at December 31, 2014       1,989     $ 71.76                  
Exercisable as of December 31, 2014       1,989     $ 71.76       0.21     $ -  

Schedule of Fair Value of Options Under Expense Category

The calculated fair value of these options was distributed to the following categories on the consolidated statement of operations and comprehensive loss:

 

Expense Category   2014     2013  
Cost of Goods   $ 24,040     $ -  
General & Administrative     357,276       -  
Sales & Marketing     48,081       -  
Research & Development     120,203       -  
    $ 549,600     $ -  

Schedule of Options And Warrants Valuation Assumptions Under Black Scholes Pricing Model

The options and warrants issued under the above four plans were valued using a Black Scholes option pricing model. The assumptions utilized in calculating the value of the issued options under Black Scholes are as follows:

 

    2014     2013  
Expected option term     5 yrs       n/a  
Expected volatility     127.32 %     n/a  
Expected divident yeild     0.00 %     n/a  
Risk free interest rate     1.71 %     n/a  

Summary of Stock Options Activity

The following table summarizes the option activities for the year ended December 31, 2014:

 

                  Average        
            Weighted     Remaining     Aggregate  
      Number of     Average     Contractual     Intrinsic  
      Shares     Exercise Price     Term (years)     Value  
Balance at December 31, 2013       -     $ -                  
Granted       175,000       4.98                  
Exercised       -       -                  
Forfeited       -       -                  
Canceled/Expired       -       -                  
Balance at December 31, 2014       175,000     $ 4.98                  
Exercisable as of December 31, 2014       175,000     $ 4.98       4.50     $ 600