Annual report pursuant to Section 13 and 15(d)

14. Stock Based Compensation (Tables)

14. Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

A summary of stock option activity for the years ended December 31, 2014 and 2013 is presented below:

			Outstanding Options
	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
December 31, 2013		385,458		10.83		4.2		-
Grants		4,710,000		0.95		4.5		-
Cancellations		-		-		-		-
December 31, 2014		5,095,458		1.70		4.5		-

Options exercisable at:
December 31, 2013		385,458		10.83		4.2
December 31, 2014		3,095,458		2.31		4.5

Nonqualified stock options

On January 30, 2014, the Company granted the following nonqualified stock options to acquire an aggregate of 1,140,000 shares of the Company’s common stock under the Company’s Equity Plan:

Alan Kelley	500,000
John Norris		150,000
Rich Gross		100,000
Marc Sylvester		250,000
Jay Rifkin		105,000
Chris Greenberg		35,000
		1,140,000