17. Subsequent events
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12 Months Ended |
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Dec. 31, 2014
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Subsequent Events [Abstract] | |
17. Subsequent events |
Increase in Outstanding Shares of Common Stock and Outstanding Options
From January 1, 2015 up to March 2, 2015, the Company issued an aggregate of 310,000 shares of its common stock (i) upon the conversion of our notes payable for 110,000 shares of its common stock, and (ii) 200,000 shares of its common stock upon the exercise of warrants aggregate proceeds of $102,800.
In January 2015, the Company granted options under Companys 2004 Stock Option Plan to members of the Companys Board of Directors to purchase 738,552 shares with an estimated fair value of $285,000. The stock options are exercisable at $0.46 to $0.48 per share, vesting over a period of up to one year and expire ten years from the date of grant. |