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Warrants | 12 Months Ended
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Dec. 31, 2014
Warrants [Abstract] |
WARRANTS: | 8. WARRANTS: On January 31, 2014 the expiration date of outstanding warrants issued to one of the Company’s placement agents to purchase 1,342,500 shares of the Company’s common stock at $1.10 per share, due to expire on January 31, 2014 was extended by the Company through January 31, 2018. The following information was input into BSM to compute a fair value price of $.104 for each modified warrant:
Exercise price |  | $ | 1.10 |
Term |  | 4 years |
Expected volatility |  |  | 37% |
Dividend yield |  |  | 0 | % |
Risk-free interest rate |  |  | .09 | % |
For the years ended December 31, 2014 and 2013, compensation expense of $139,620 and $1,916 respectively was recorded related to these warrants. The following table summarizes information about outstanding stock warrants as of December 31, 2014 all of which are exercisable:
|  |  |  |  |  | Weighted Average |
Exercise |  |  | Number |  |  | Remaining |
Price |  |  | Outstanding |  |  | Contractual Life |
$ | 1.10 |  |  |  | 1,342,500 |  |  | 3 years |
| 1.00 |  |  |  | 2,000,004 |  |  | 6 years |
$ | 0.55 |  |  |  | 1,773,027 |  |  | 7 years |
|  |  |  |  | 5,115,531 |

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