Warrants

6 Months Ended

Jun. 29, 2013

Warrants

Note 8. Warrants

During the three and six months ended June 29, 2013, 4,389,281 and 7,803,564 warrants with an exercise price of $0.21 per share were exercised, respectively, and the Company received proceeds of $921,749 and $1,638,748 from exercise of these warrants, respectively.  These warrants were issued during the year ended January 1, 2011 pursuant to a subscription agreement entered into by the holders of such warrants and the Company on April 22, 2010.

In addition, during the three and six months ended June 29, 2013, 533,067 and 1,314,303 warrants issued during the year 2008 with an exercise price of $3.00 per share expired, respectively.

At June 29, 2013, the following warrants were outstanding and exercisable:

Warrants granted in connection with :	Weighted Average Exercise Prices		Number Outstanding And Exercisable At June 29, 2013		Weighted Average Remaining Contractual Life
2008 Private placement equity offering	$	3.00		404,047	0.8 month
2012 Placement agent commission	$	0.85		285,000	13.1 months
2012 Non-employee award	$	0.75		250,000	13.3 months
	$	1.75		939,047	7.9 months