Quarterly report pursuant to Section 13 or 15(d)

Restricted Common Shares (Tables)

v2.4.0.8
Restricted Common Shares (Tables)
9 Months Ended
Sep. 30, 2014
Restricted Common Shares [Abstract]  
Shedule of restricted common shares activity
    Shares     Weighted 
Average 
Exercise Price
    Weighted 
Average 
Remaining 
Contractual 
Life 
(in Years)
  Aggregate 
Intrinsic 
Value
 
Outstanding at December 31, 2014     -     $ -          
Granted     1,760,000       0.17              
Exercised     -       -              
Forfeited or expired     -       -              
Outstanding at September 30, 2014     1,760,000     $ 0.17     N/A   $ 246,400  
                             
Vested at September 30, 2014     1,285,000     $ 0.17     N/A   $ 179,900  
Shedule of fair value of option estimated by weighted-average assumptions
 
    As of 
September 30, 2014
 
Risk-free interest rate     1.63% - 1.71 %
Expected term   years  
Expected volatility     21.6 %
Expected dividend yield     - %