Warrants

12 Months Ended

Jan. 03, 2015

FairValueAssumptionsRiskFreeInterestRateStockIssuance

Warrants

The following table summarizes activity of warrants at January 3, 2015 and December 28, 2013 and changes during the years then ended:

				Weighted Average
						Remaining			Aggregate
	Number of			Exercise		Contractual			Intrinsic
	Shares			Price		Term			Value
Outstanding at December 29, 2012		10,056,914		$	0.72		0.44
Warrants Issued
Warrants Exercised		(8,338,564	)		0.25
Warrants Expired		(1,718,350	)		3.00
Outstanding at December 28, 2013		-			-
Warrants Issued		469,020			1.07		4.68
Warrants Exercised		-			-
Warrants Expired		-			-
Outstanding and exercisable at January 3, 2015		469,020		$	1.07		4.43	$	-

The aggregate intrinsic values in the table above are based on the Company’s closing stock price of $0.90 on the last day of business for the year ended January 3, 2015.

On September 29, 2014, the Company issued Hercules Technology II, L.P. a warrant to purchase 419,020 shares of the Company’s common stock at an exercise price of $1.062 per share pursuant to the Loan Agreement.  This warrant has not been exercised as of January 3, 2015.

On October 27, 2014, the Company awarded a certain non-employee a warrant to purchase 50,000 shares of the Company’s common stock at an exercise price of $1.10 per share.  This warrant has not been exercised as of January 3, 2015.