| | | | Weighted average | | ||
| | | | exercise price | | ||
| | Number of shares | | US$ | | ||
Outstanding at January 1, 2013 | | | 1,130,000 | | | 7.65 | |
Granted | | | - | | | - | |
Forfeited | | | (20,000) | | | 7.65 | |
Exercised | | | - | | | - | |
Outstanding at December 31, 2013 and 2014 | | | 1,110,000 | | | 7.65 | |
Exercisable at December 31, 2013 | | | 832,500 | | | 7.65 | |
Exercisable at December 31, 2014 | | | 1,110,000 | | | 7.65 | |
Exercisable at December 31, 2015 | | | 1,110,000 | | | 7.65 | |
Exercisable at December 31, 2016 | | | - | | | - | |
Exercisable at December 31, 2017 | | | - | | | - | |