Duos Technologies Group, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

STOCK PURCHASE WARRANTS AND OPTIONS

STOCK PURCHASE WARRANTS AND OPTIONS

6 Months Ended

Jun. 30, 2013

STOCK PURCHASE WARRANTS AND OPTIONS [Abstract]

STOCK PURCHASE WARRANTS AND OPTIONS

NOTE 15 - STOCK PURCHASE WARRANTS AND OPTIONS

Warrants

Following is a summary of warrants for Class A common shares outstanding:


	June 30, 2013				December 31, 2012
	Shares		Weighted Avg Exercise Price		Shares		Weighted Avg Exercise Price
Outstanding at beginning of period		19,860,000	$	.031		14,700,000	$	.033
Granted		-		-		13,410,000	$	.02
Exercised		-		-		-		-
Forfeited		-		-		8,250,000	$	.031
Expired		-		-		-		-
Outstanding at end of period		19,860,000	$	.031		19,860,000	$	.031
Exercisable at end of period		19,860,000	$	.031		19,860,000	$	.031

Weighted average grant date fair value			$	.016			$	.016
Weighted average remaining contractual term				3.27				3.77

Options

Following is a summary of options for Class B common stock outstanding:


	June 30, 2013				December 31, 2012
	Shares		Weighted Avg Exercise Price		Shares		Weighted Avg Exercise Price
Outstanding at beginning of period		350,000	$	0.035		-		-
Granted		650,000	$	0.020		350,000	$	0.035
Exercised		-		-		-		-
Forfeited		-		-		-		-
Expired		-		-		-		-
Outstanding at end of period		1,000,000	$	0.030		350,000	$	0.035
Exercisable at end of period		100,000	$	0.035		100,000	$	0.035

Weighted average grant date fair value			$	0.03			$	0.04
Weighted average remaining contractual term				4.36				4.59

On January 1, 2013 the Company granted options to purchase 650,000 shares of Class B common stock to its independent directors. The options have an exercise price of $0.02 per share, a five-year term, vest on January 1, 2014¸ and are subject to continuing service as a director. The options were valued using the Black-Scholes model using a volatility of 508.21%, an expected term of 5 years and an interest rate of 0.76%. The options are valued at $14,500 and will be recognized as expense over the requisite service period. Total stock option expense for the six months ended June 30, 2013 was $8167.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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