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4. STOCKHOLDERS EQUITY (Tables)

3 Months Ended

Mar. 31, 2014

STOCKHOLDERS' EQUITY (DEFICIT)

A Summary Of The Status Of The Warrants Granted

A summary of the status of the warrants granted for the three months ended March 31, 2014, and changes during the period then ended is presented below:

For the Three Months Ended March 31, 2014
		Shares				Weighted Average Exercise Price
Outstanding at beginning of period			15,670,143			$	0.37
Granted			-				-
Exercised			-				-
Forfeited			-				-
Expired			3,473,300				0.75
Outstanding at end of period			12,196,843			$	0.26

Schedule of warrants by warrant price range

				As of March 31, 2014												As of March 31, 2014
				Warrants Outstanding												Warrants Exercisable
Range of Exercise Prices				Number Outstanding				Weighted-Average Remaining Contract Life				Weighted- Average Exercise Price				Number Exercisable				Weighted-Average Exercise Price
$	0.06				4,500,000				4.5			$	0.06				4,500,000			$	0.06
	0.08				550,000				3.9				0.08				550,000				0.08
	0.09				625,000				4.0				0.09				625,000				0.09
	0.15				1,571,300				3.4				0.15				1,571,300				0.15
	0.25				120,000				1.6				0.25				120,000				0.25
	0.40				1,299,999				0.5				0.40				1,299,999				0.40
	0.44				1,515,544				2.4				0.44				1,515,544				0.44
	0.50				500,000				1.5				0.50				500,000				0.50
	0.60				975,000				2.5				0.60				975,000				0.60
	0.75				120,000				1.6				0.75				120,000				0.75
	1.00				420,000				1.5				1.00				420,000				1.00
$	0.06-1.00				12,196,843				3.2			$	0.26				12,196,843			$	0.26

Schedule of option activity

A summary of the status of the stock options granted for the nine months ended March 31, 2014, and changes during the period then ended is presented below:

For the Nine Months Ended March 31, 2014
		Options				Weighted Average Exercise Price
Outstanding at beginning of period			3,943,500			$	0.15
Granted			-				-
Exercised			-				-
Forfeited			-				-
Expired			-				-
Outstanding at end of period			3,943,500			$	0.15

Schedule of options by option price range

				As of March 31, 2014												As of March 31, 2014
				Stock Options Outstanding												Stock Options Exercisable
Exercise Price				Number Outstanding				Weighted-Average Remaining Contract Life				Weighted- Average Exercise Price				Number Exercisable				Weighted-Average Exercise Price
$	0.15				3,943,500				3.39				0.15				3,826,833			$	0.15

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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