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STOCK PURCHASE WARRANTS AND OPTIONS | 6 Months Ended
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Jun. 30, 2013
STOCK PURCHASE WARRANTS AND OPTIONS [Abstract] |
STOCK PURCHASE WARRANTS AND OPTIONS | NOTE 15 - STOCK PURCHASE WARRANTS AND OPTIONS Warrants Following is a summary of warrants for Class A common shares outstanding:
|  | June 30, 2013 |  |  | December 31, 2012 |
|  | Shares |  |  | Weighted Avg Exercise Price |  |  | Shares |  |  | Weighted Avg Exercise Price |
Outstanding at beginning of period |  |  | 19,860,000 |  |  | $ | .031 |  |  |  | 14,700,000 |  |  | $ | .033 |
Granted |  |  | - |  |  |  | - |  |  |  | 13,410,000 |  |  | $ | .02 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | 8,250,000 |  |  | $ | .031 |
Expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding at end of period |  |  | 19,860,000 |  |  | $ | .031 |  |  |  | 19,860,000 |  |  | $ | .031 |
Exercisable at end of period |  |  | 19,860,000 |  |  | $ | .031 |  |  |  | 19,860,000 |  |  | $ | .031 |
Weighted average grant date fair value |  |  |  |  |  | $ | .016 |  |  |  |  |  |  | $ | .016 |
Weighted average remaining contractual term |  |  |  |  |  |  | 3.27 |  |  |  |  |  |  |  | 3.77 |
Options Following is a summary of options for Class B common stock outstanding:
|  | June 30, 2013 |  |  | December 31, 2012 |
|  | Shares |  |  | Weighted Avg Exercise Price |  |  | Shares |  |  | Weighted Avg Exercise Price |
Outstanding at beginning of period |  |  | 350,000 |  |  | $ | 0.035 |  |  |  | - |  |  |  | - |
Granted |  |  | 650,000 |  |  | $ | 0.020 |  |  |  | 350,000 |  |  | $ | 0.035 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Outstanding at end of period |  |  | 1,000,000 |  |  | $ | 0.030 |  |  |  | 350,000 |  |  | $ | 0.035 |
Exercisable at end of period |  |  | 100,000 |  |  | $ | 0.035 |  |  |  | 100,000 |  |  | $ | 0.035 |
Weighted average grant date fair value |  |  |  |  |  | $ | 0.03 |  |  |  |  |  |  | $ | 0.04 |
Weighted average remaining contractual term |  |  |  |  |  |  | 4.36 |  |  |  |  |  |  |  | 4.59 |
On January 1, 2013 the Company granted options to purchase 650,000 shares of Class B common stock to its independent directors. The options have an exercise price of $0.02 per share, a five-year term, vest on January 1, 2014¸ and are subject to continuing service as a director. The options were valued using the Black-Scholes model using a volatility of 508.21%, an expected term of 5 years and an interest rate of 0.76%. The options are valued at $14,500 and will be recognized as expense over the requisite service period. Total stock option expense for the six months ended June 30, 2013 was $8167.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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