STOCK OPTIONS AND WARRANTS (Tables)

9 Months Ended

Sep. 30, 2013

Stock Options And Warrants Tables

Summary warrant activity

A summary of the Company’s warrant activity for the nine months ended September 30, 2013 is presented below:

	Warrants Outstanding		Weighted Average Exercise Price
Outstanding, December 31, 2012		132,340	$	42.53
Granted		3,462,513		0.549
Exercised		-		-
Expired		(12,387)		187.09
Outstanding, September 30, 2013		3,582,466	$	1.86

Outstanding warrants to purchase its common stock

As of September 30, 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		1.56
	1,000	$	30.00		2.17
	860,086	$	0.55		0.16
	2,602,427	$	1.10		4.77
	3,582,466	$	1.86		3.56

Weighted average assumption

Stock option activity during the nine months ended September 30, 2013 is summarized as follows:

	Options Outstanding		Weighted-Average Exercise Price
Options outstanding at December 31, 2012		3,870,389	$	0.69
Exercised		-		-
Granted		245,739		1.10
Forfeited		(122,870)		1.02
Expired		-		-
Options outstanding at September 30, 2013		3,993,258	$	0.70

Stock Option Outstanding

The following table summarizes information about the Company’s stock options outstanding as of September 30, 2013:

		Outstanding Options
				Weighted Average				Exercisable Options
				Remaining		Aggregate				Aggregate
Range of				Contractual Life		Intrinsic				Intrinsic
Exercise Prices		Number		(Years)		Value		Number		Value
$	0.61		3,133,173		1.79	$	-		1,310,610	$	-
$	1.02		614,346		1.63	$	-		184,305		-
$	1.10		245,739		2.75	$	-		-	$	-
Totals			3,993,258		1.88	$	-		1,494,915	$	-