Note 5 Stock Options

9 Months Ended

Sep. 30, 2011

On April 6, 2007, the Company granted 6,950,000 stock options to directors, officers, and consultants at a price of $0.25 per share expiring on April 6, 2012.

The following table summarizes the continuity of the Company’s stock options:

	Number of options	Weighted average exercise price $



Outstanding, December 31, 2008	7,370,000	0.26

Expired	(420,000)	0.46

Outstanding, December 31, 2009	6,950,000	0.25

Expired	0	0.00
Outstanding, December 31, 2010 Activity during the period	6,950,000 0	0.25 0.00

Outstanding, September 30, 2011	6,950,000	0.25

Additional information regarding stock options outstanding as at September 30, 2011 is as follows:

	Outstanding and exercisable
Range of exercise prices$	Number of shares	Weighted average remaining contractual life (years)	Weighted average exercise price $

0.25	6,950,000	2.26	0.25

The fair value of the stock options granted during the year ended December 31, 2007 was estimated using the Black-Scholes option pricing model assuming no expected dividends and the following weighted average assumptions:

	2007

Risk-free interest rate	3.43%
Expected life (in years)	5
Expected volatility	184%

CREATOR CAPITAL LTD 6-K