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STOCK OPTIONS
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Sep. 30, 2014
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| STOCK OPTIONS |
NOTE 9 – STOCK OPTIONS
On January 29, 2014, the Company authorized the issuance of 1,000,000 stock options to one of its service providers. The aggregate fair value of the options totaled $195,885 based on the Black Scholes Merton pricing model using the following estimates: exercise price of $0.27, 0.71% risk free rate, 125% volatility and expected life of the options of 3 years. The Company has booked the $195,885 to additional paid in capital and a deferred expense account, to be amortized over the term of the options. For the nine months ended September 30, 2014, $43,530has been amortized to expense.
A summary of the status of the Company’s outstanding stock options and changes during the periods is presented below:
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