COMMON STOCK OPTIONS
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Dec. 31, 2012
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COMMON STOCK OPTIONS |
NOTE 7 – COMMON STOCK OPTIONS
On
November 30, 2012, the Company received notice from a former director to exercise 160,871 options to purchase common
stock using the net exercise feature in the option. Accordingly, the Company issued 92,527 shares of common stock.
During the three months ended December 31, 2012, the Company recognized $54,295 of expense related to vested warrants that
were granted in the prior year. Unamortized warrant expense as of December 31, 2012 amounted to approximately $743,000.
Below is a table summarizing the options issued and outstanding as of December 31, 2012:
As of December 31, 2012, the outstanding options have an intrinsic value of approximately $3.80 million.
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