Warrants

6 Months Ended

Jun. 30, 2012

Interim Financial Statements

Note 7. Warrants [Text Block]

During the six months ended June 30, 2012, 214,286 warrants with an exercise price of $0.21 per share were exercised and the Company received proceeds of $45,000 from exercise of these warrants.  These warrants were issued during the year ended January 1, 2011 pursuant to the Subscription Agreement entered into by the Company on April 22, 2010.

At June 30, 2012, the following warrants were outstanding and exercisable:

Warrants granted in connection with :	Weighted Average Exercise Prices		Number Outstanding And Exercisable At June 30, 2012		Weighted Average Remaining Contractual Life
2008 Private Placement Equity Offering	$	3.00		1,718,350	9.6 months
2010 Private Placement Equity Offering	$	0.21		8,339,278	10.7 months
	$	0.69		10,057,628	10.4 months