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Quarterly report pursuant to sections 13 or 15(d)

10. Stockholders' Equity (Tables)

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10. Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
Assets and Liabilities acquired

The assets acquired and liabilities assumed from the publicly-held company were as follows:

 

Cash and cash equivalents   $ 337  
Liabilities assumed     (21,206 )
Net   $ (20,869 )
Warranty Activity

A summary of the Company’s warrant activity during the three months ended March 31, 2013 is presented below:

 

                Weighted        
          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
Warrants   Shares     Price     Term     Value  
Balance Outstanding, December 31, 2012     7,256,522     $ 0.45              
  Granted     807,143       0.50              
  Exercised     -       -              
  Forfeited     -       -              
  Expired     -       -              
Balance Outstanding, March 31, 2013     8,063,665     $ 0.46       4.3     $ 32,349  
                                 
Exercisable, March 31, 2013     8,063,665     $ 0.46       4.3     $ 32,349  
Compensation Expense for Stock Options Granted

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the three months ended March 31, 2013 and 2012:

 

    For the Three     For the Three  
    Months Ended     Months Ended  
Assumptions