Quarterly report pursuant to Section 13 or 15(d)

COMMON STOCK WARRANTS

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COMMON STOCK WARRANTS
 3 Months Ended
Jun. 30, 2013
Equity [Abstract]  
COMMON STOCK WARRANTS

NOTE 5 – COMMON STOCK WARRANTS

 

Stock Warrants

 

A summary of the status of the Company’s outstanding stock warrants and changes during the period then ended is as follows:

                 
    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (in Years)
                 
Balance, December 31, 2012         36,000,000                                    0.03      
Granted              750,000   $                                0.05      
Exercised                            -            
Cancelled/Forfetied                            -            
Balance, June 30, 2013         36,750,000   $                                0.03                  1.6

 

The following table summarizes the Company’s stock warrants outstanding at June 30, 2013:

 

  Exercise Price   Warrants Outstanding   Warrants Exercisable   Weighted Average Remaining Contractual Life     Aggregate Intrinsic Value
                     
$ 0.03                      36,000,000                     36,000,000   1.6 Years   $    469,000
$ 0.05                            750,000                           750,000   3.9 Years   $                  -
                     
                         36,750,000                     36,750,000   1.6 Years   $    469,000