Common Stock Warrants

12 Months Ended

Dec. 31, 2013

Common Stock Warrants [Abstract]

COMMON STOCK WARRANTS

11. COMMON STOCK WARRANTS

During 2012, 5,000,000 warrants were issued and 8,666,680 were expired, as follows:

In February 2012, investors in the Putable-Callable Debenture Series 2012 and Series C warrants acquired 2,500,000 common stock purchase warrants with a strike price of $.10. The warrants with a fair value of $237,500 were cancelled in April 2012 when the investors elected to convert the debentures to common stock. See Note 9.

In March 2012, investors in the 2012 Common Stock Private Offering acquired 2,500,000 Series C warrants. The warrants remain outstanding and expire December 31, 2017 and bear a $0.15 strike price.

During 2013 no warrants were issued or expired.

The following table summarizes information about outstanding warrants at December 31, 2013:

Year Issued	Number Outstanding		Remaining Contractual Life in Years		Number Currently Exercisable		Weighted Average  Exercise Price
2009		21,682,372		.6		21,682,372	$	0.10
2010		10,236,227		0.9		10,236,227	$	0.10
2011		29,680,086		3.0		29,680,086	$	0.10
2012		2,500,000		4.0		2,500,000	$	0.15
Total		64,098,685		1.9		64,098,685	$	0.10