Common Stock

9 Months Ended

Sep. 30, 2013

Common Stock [Text Block]

10.	Common Stock
	a)	In September, 2013 the Company issued 8,550,000 units of the Company at a price per unit of $1.17 for gross proceeds of approximately $10,003,500 before offering costs of $1,139,035. Each Unit was comprised of one share of the Company's common stock, and one half of one common share purchase warrant, with each whole warrant exercisable to purchase one additional share of the Company's common stock for a period of 30 months following the closing of the offering at an exercise price of $1.60, subject to acceleration provisions.
	b)	During the nine months ended September 30, 2013, the Company also issued 37,500 shares of common stock, pursuant to the exercise of stock options, for proceeds of $25,375.