COMMON STOCK AND COMMON STOCK PURCHASE WARRANTS

9 Months Ended

Sep. 30, 2013

Common Stock and Common Stock Purchase Warrants [Abstract]

COMMON STOCK AND COMMON STOCK PURCHASE WARRANTS

NOTE 13   COMMON STOCK AND COMMON STOCK PURCHASE WARRANTS

During the nine months ended September 30, 2013, 28,348 warrants were exercised on a cashless basis to purchase 10,500 shares of common stock, which would have been exercisable in cash for $3.50 per share.

Warrants issued and outstanding at September 30, 2013, and changes during the nine months then ended, are as follows:

	Warrants Outstanding						Warrants Exercisable
	Number of underlying shares		Weighted Average Exercise Price		Average Remaining Contractual Life (years)		Number of underlying shares		Weighted Average Exercise Price		Average Remaining Contractual Life (years)
Balance, January 1, 2013		283,956	$	3.63		0.91		283,956	$	3.63		0.91
Granted / Vested		-
Forfeited		-
Exercised		(28,348)		3.50
Balance, September 30, 2013		255,608		3.64		0.18		255,608		3.64		0.18

All the 227,152 Series B Warrants expired on October 31, 2013. The Company is in the process of completing the formalities in relation to the exercise of these warrants to purchase shares of its common stock.