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Stock Options and Warrants (Tables)

6 Months Ended

Jun. 30, 2013

Stock Options And Warrants Tables

Outstanding stock options activity

The following summarizes the information relating to outstanding stock options activity with employees during 2013 and 2012:

		Common Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Outstanding at December 31, 2012			18,647,332			$	0.29				6.06			$	26,345
Awarded			5,168,000			$	0.17
Expired/Forfeited			(703,333	)		$	0.11
Outstanding at June 30, 2013			23,111,999			$	0.26				6.68			$	477,116
Exercisable at June 30, 2013			21,801,997			$	0.27				6.40			$	376,145

Non vested share-based payment activity

The following table represents our non vested share-based payment activity with employees for the six months ended June 30, 2013:

		Number of Options				Weighted Average Grant Date Fair Value

Nonvested options - December 31, 2012			1,235,555			$	0.16
Granted			5,168,000			$	0.15
Vested			(4,301,333	)		$	0.15
Forfeited			(360,970	)		$	—
Nonvested options – June 30, 2013			1,741,252			$	0.11

At June 30, 2013, the Company had outstanding warrants to purchase the Company’s common stock which were issued in connection with multiple financing arrangements and consulting agreements. Information relating to these warrants is summarized as follows:

Warrants		Remaining Number Outstanding				Weighted Average Remaining Life (Years)				Weighted Average Exercise Price				Expiration Year

Warrants-Financing			7,000,000				3.49			$	0.34				2016 – 2017
Warrants-Ehrenberg			250,000				.10			$	0.30				2013
Warrants-Consulting Agreement			825,000				1.27			$	0.30				2014 – 2015
Warrants-Note Conversions			2,302,538				.92			$	0.39				2014 – 2015
Warrants-Stock Purchases			6,218,840				3.73			$	0.33				2014 – 2017
Warrants-Services			400,000				1.56			$	0.50				2015
			16,996,378

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.

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