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EXCEL - IDEA: XBRL DOCUMENT - CHINA PHARMA HOLDINGS, INC.Financial_Report.xls
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EX-32.1 - CHINA PHARMA HOLDINGS, INC.cphi10qex321033112.htm
EX-31.2 - CHINA PHARMA HOLDINGS, INC.cphi10qex312033112.htm
EX-32.2 - CHINA PHARMA HOLDINGS, INC.cphi10qex322033112.htm
EX-31.1 - CHINA PHARMA HOLDINGS, INC.cphi10qex311033112.htm
10-Q - CHINA PHARMA HOLDINGS, INC - CHINA PHARMA HOLDINGS, INC.cphi10q033112.htm
v2.4.0.6
STOCKHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2012
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY

NOTE 10 - STOCKHOLDERS' EQUITY

 

Preferred and Common Stock

 

The total number of authorized shares is 95,000,000 shares of common stock and 5,000,000 shares of preferred stock. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company’s board of directors.

 

Warrants

 

As of March 31, 2012, the Company had warrants outstanding and exercisable to purchase an aggregate of 150,000 shares of the Company's common stock at exercise prices ranging from $3.00 to $3.80 per share, which expire May 16, 2013. At March 31, 2012, the warrants had a weighted-average exercise price of $3.40 per share, a weighted-average remaining contractual life of 1.1 years and a total intrinsic value of $0.

 

Stock and Stock Options

 

2009 Stock Option Plan

 

On September 2, 2009, the Company’s Board of Directors adopted, and on September 3, 2009 its stockholders approved, the 2009 Stock Option Plan of the Company (the “2009 Option Plan”), which gave the Company the ability to grant stock options and restricted stock to its employees or consultants, or employees or consultants of its subsidiaries and to the non-employee members of its Board of Directors or the board of directors of any of its subsidiaries. The 2009 Option Plan currently allows for awards of stock options and restricted stock for up to 1,000,000 shares of common stock. As of March 31, 2012, options to purchase an aggregate of 300,000 shares of common stock had been granted under the 2009 Option Plan, of which 40,000 have been exercised and 50,000 have failed to vest and have been forfeited. In connection with the adoption of the 2010 Long-Term Incentive Plan of the Company (the “2010 Incentive Plan”) as described in the paragraph below, the Company’s Board of Directors determined that no additional awards of stock options or restricted stock will be made under the 2009 Option Plan, and that the 2009 Option Plan will be terminated following the exercise or expiration of all stock options currently outstanding under such plan.  See Note 13.

 

2010 Incentive Plan

 

On November 12, 2010, the Company’s Board of Directors adopted, and on December 22, 2010 its stockholders approved, the 2010 Incentive Plan, which gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The 2010 Incentive Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through March 31, 2012, 125,000 shares of common stock and options to purchase an aggregate of 100,000 shares of stock options had been granted under the 2010 Incentive Plan.

 

During the three months ended March 31, 2012 and 2011, the Company recognized $56,489 and $41,898 respectively of compensation expense as general and administrative expenses related to stock and stock options granted in 2011 and 2010. At March 31, 2012, the total remaining unrecognized compensation expense related to stock options was $5,514 which is anticipated to be recognized in the second quarter of 2012. As of March 31, 2012, the aggregate intrinsic value of the options was $0. 

 

At March 31, 2012, the total remaining unrecognized compensation expense related to stock grants was $23,943 which is anticipated to be recognized in the second quarter of 2012.