Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Warrants Estimated (Tables)

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Fair Value of Warrants Estimated (Tables)
9 Months Ended
Sep. 30, 2015
Fair Value of Warrants Estimated (Tables):  
Fair Value of Warrants Estimated (Tables)

The fair value of warrants was estimated on the date of grant using the Black-Scholes option-pricing model based on the following weighted average assumptions:

 

 

Nine Months Ended September 30,

 

2015

 

2014

Expected volatility

128.36% to 155.43%

 

113.93% to 138.05%

Expected dividends

0%

 

0%

Expected term

3 – 5 years

 

3 - 5 years

Risk free rate

.51% to 1.75%

 

.41% to .59%