China Housing & Land Development, Inc. | 2013 | FY | 3


The following summarizes the weighted-average information about the outstanding stock options as at December 31, 2013: 

 

Outstanding Stock Options
Exercise
Price
    Number     Average Remaining
Contractual Life
$ 1.39       491,103     7.46 years

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The following table provides information with respect to stock option transactions:

 

    Number of
Stock Options
Outstanding
    Weighted 
Average
Exercise 
Price
 
December 31, 2011     1,227,755     $ 1.39  
Forfeited     (368,326 )     1.39  
December 31, 2012     859,429       1.39  
Forfeited     (368,326 )     1.39  
December 31, 2013     491,103     $ 1.39  

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The 1,227,755 stock options granted on June 13, 2011 had an estimated fair value of $1,316,911 for an average value of $1.04 to $1.10 per stock option using the CRR option pricing model with the following key assumptions:

 

    June 13, 2011  
Expected life     5.5 - 6.5 years  
Expected volatility     95 %
Risk-free interest rate     1.74% - 2.10%  
Dividend yield     0 %

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