Note 7 - Stockholders' Deficit (Tables)

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Stock option activity summary covering options granted to the Company’s employees and consultants is presented in the table below:

					Weighted-average
					Remaining		Aggregate
	Number of		Weighted-average		Contractual		Intrinsic
	Shares		Exercise Price		Term (Years)		Value
Outstanding at December 31, 2012		694,122	$	1.00		7.60	$	-
Granted		-		-		-
Exercised		-		-		-
Forfeited		-		-		-
Outstanding at March 31, 2013		694,122	$	1.00		7.35	$	-

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

A summary of information regarding common stock warrants outstanding is as follows:

					Weighted-average
					Remaining		Aggregate
	Number of		Weighted-average		Contractual		Intrinsic
	Shares		Exercise Price		Term (Years)		Value
Outstanding at December 31, 2012		755,250	$	1.83		1.76	$	-
Issued		86,956		1.16		2.92		-
Exercised		-		-		-		-
Outstanding at March 31, 2013		842,206		1.76		1.89	$	-

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References+ Details

RADIANT OIL & GAS INC 10-Q/A