Warrants

12 Months Ended

Dec. 31, 2012

Warrants [Abstract]

Warrants

Note 10. Warrants

As described above in Notes 8 and 9, we issued 23,711,052 warrants as additional consideration for the notes that we issued on December 31, 2012.

A summary of warrant activities for the years ended December 31, 2012 and 2011 is reflected below:

	Warrants		Weighted Average Exercise Price		Weighted Average Remaining Life (Years)
Outstanding at December 31, 2010		−		−		−
Granted		7,834,896	$	1.40
Exercised		−		−		−
Forfeited		−		−		−
Outstanding at December 31, 2011		7,834,896	$	1.40		3.17
Granted		23,711,052	$	0.003		−
Exercised		−		−		−
Forfeited		−		−		−
Outstanding at December 31, 2012		31,545,948	$	0.35		2.79

The warrants outstanding at December 31, 2012 have an intrinsic value of $408,431.  The weighted average grant date fair value for the warrants issued during the year ended December 31, 2012 was $0.02.  The weighted average grant date fair value for the warrants issued during the year ended December 31, 2011 was $1.50.