STOCK OPTIONS AND WARRANTS

3 Months Ended

Mar. 31, 2013

Stock Options And Warrants

STOCK OPTIONS AND WARRANTS

Warrants

 A summary of the Company’s warrant activity for the three months ended March 31, 2013 is presented below:

	Warrants Outstanding		Weighted Average Exercise Price
Outstanding, December 31, 2012		132,340	$	42.53
Granted		860,086		0.549
Exercised		-		-
Expired		12,387		187.09
Outstanding, March 31, 2013		980,039	$	3.86

 As of March 31, 2013, the Company had the following outstanding warrants to purchase its common stock:

Warrants Outstanding		Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Yrs)
	118,953	$	27.58		2.06
	1,000	$	30.00		2.67
	860,086	$	0.55		0.08
	980,039	$	3.86		0.32

Non-Qualified Stock Options

 The Company did not issue any stock options during the three months ended March 31, 2013.

 Stock option activity during the three months ended March 31, 2013 is summarized as follows:

	Number of Shares		Weighted-Average Exercise Price
Options outstanding at December 31, 2012		3,870,389	$	0.69
Exercised		-		-
Granted		-		-
Forfeited		-		-
Expired		-		-
Options outstanding at March 31, 2013		3,870,389	$	0.69

 The following table summarizes information about the Company’s stock options outstanding as of March 31, 2013:

		Outstanding Options
				Weighted Average				Exercisable Options
				Remaining		Aggregate				Aggregate
Range of				Contractual Life		Intrinsic				Intrinsic
Exercise Prices		Number		(Years)		Value		Number		Value
$	0.01		3,133,172		2.29	$	4,355,109		982,950	$	1,366,309
$	1.017		737,217		2.44	$	724,684		-	$	-
Totals			3,870,389		2.32	$	5,079,793		982,950	$	1,366,309