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Note 10 - Warrants

6 Months Ended

Jun. 30, 2013

NOTE 10 – WARRANTS

A summary of the status of the Company's warrants as of June 30, 2013, and changes from inception through June 30, 2013 are presented below:

Date of	Warrant	Exercise	Value if		Expiration
Issuance	Shares	Price	Exercised		Date
11/25/08	1,259,639	1.27	$	1,599,742	08/10/14
11/25/08	530,314	0.85		450,767	08/10/14
11/26/08	449,220	1.27		570,509	08/10/14
Outstanding at 12/31/2008	2,239,173	1.17	$	2,621,018
03/05/09	347,215	1.27		440,963	08/10/14
03/05/09	104,165	0.85		88,540	08/10/14
04/01/09	17,655	1.27		22,422	08/10/14
04/01/09	5,296	0.85		4,502	08/10/14
06/17/09	235,400	1.27		298,958	08/10/14
06/17/09	70,620	0.85		60,027	08/10/14
07/23/09	58,850	1.27		74,740	08/10/14
07/23/09	35,310	0.85		30,014	08/10/14
08/20/09	58,850	1.27		74,740	10/14/15
09/09/09	235,400	1.27		298,958	10/14/15
09/09/09	70,620	0.85		60,027	10/14/15
Outstanding at 12/31/2009	3,478,554	1.17	$	4,074,909
02/11/10	29,425	1.27		37,370	10/14/15
02/11/10	17,655	0.85		15,007	10/14/15
05/21/10	29,425	1.27		37,370	10/14/15
05/21/10	17,655	0.85		15,007	10/14/15
08/10/10	88,275	1.27		112,109	10/14/15
08/10/10	52,965	0.85		45,020	10/14/15
09/15/10	264,825	1.27		336,328	10/14/15
09/15/10	52,965	0.85		45,020	10/14/15
09/24/10	105,930	0.85		90,041	10/14/15
10/27/10	147,125	1.27		186,849	*
10/27/10	73,563	0.85		62,529	*
11/19/10	117,700	1.27		149,479	*
11/24/10	70,620	0.85		60,027	*
Outstanding at 12/31/2010	4,546,682	1.16	$	5,267,063
01/26/11	117,700	1.27		149,479	*
01/26/11	60,027	1.27		76,234	*
01/26/11	106,636	0.85		90,641	*
03/15/11	58,850	1.27		74,740	*
03/15/11	35,310	0.85		30,014	*
04/06/11	70,620	0.85		60,027	*
04/06/11	117,700	1.27		149,479	*
06/08/11	51,200	0.85		43,520	*
06/08/11	85,333	1.27		108,373	*
06/20/11	17,655	0.85		15,007	*
06/20/11	29,425	1.27		37,370	*
07/26/11	23,540	1.27		29,896	*
07/26/11	14,124	0.85		12,005	*
08/22/11	29,424	1.27		37,368	*
08/22/11	17,655	0.85		15,007	*
08/30/11	105,930	0.85		90,041	*
09/02/11	176,550	1.27		224,219	*
09/09/11	58,850	1.27		74,740	*
09/09/11	35,310	0.85		30,014	*
09/22/11	441,375	1.27		560,546	*
09/22/11	264,825	0.85		225,101	*
11/02/11	141,240	0.85		120,054	*
11/02/11	235,400	1.27		298,958	*
11/23/11	35,310	0.85		30,014	*
11/23/11	58,850	1.27		74,740	*
12/27/11	127,116	0.85		108,049	*
12/27/11	211,860	1.27		269,062	*
Outstanding at 12/31/11	7,274,497	1.14	$	8,301,757
01/31/12	117,700	1.27		149,479	*
01/31/12	70,620	0.85		60,027	*
02/02/12	76,505	1.27		97,161	*
02/02/12	45,903	0.85		39,018	*
02/10/12	58,850	1.27		74,740	*
02/10/12	35,310	0.85		30,014	*
04/10/12	41,666	0.85		35,416	*
04/10/12	69,443	1.27		88,193	*
05/11/12	35,310	0.85		30,014	*
05/11/12	58,850	1.27		74,740	*
06/04/12	35,310	0.85		30,014	*
06/04/12	58,850	1.27		74,740	*
06/19/12	35,310	0.85		30,014	*
06/19/12	58,850	1.27		74,740	*
07/24/12	44,138	1.27		56,055	*
07/24/12	58,850	1.27		74,740	*
07/24/12	30,896	0.85		26,262	*
07/30/12	235,400	1.27		298,958	*
07/30/12	141,240	0.85		120,054	*
08/28/12	258,352	1.27		328,107	*
08/28/12	155,011	0.85		131,759	*
10/18/12	158,895	1.27		201,797	*
10/18/12	95,337	0.85		81,036	*
11/26/12	58,850	1.27		74,740	*
11/27/12	35,310	0.85		30,014	*
Outstanding at 12/31/12	9,345,253	1.14		10,613,584
02/28/13	400,000	0.85		340,000	*
03/01/13	(1,625,192)	0.85		(1,381,413)
03/01/13	1,625,192	0.85		1,381,413	*
03/13/13	800,000	1.88		1,500,000	*
03/13/13	480,000	0.85		408,000	*
06/19/13	127,000	0.85		107,950	*
06/19/13	212,000	1.88		397,500	*
Outstanding at 6/30/13	11,364,253	1.18		13,367,034

*Fifth anniversary date of the next registration statement to be filed.

The warrants were issued in connection with the Preferred Stock Offering and were valued using the Lattice model and accounted for as described in Note 7. On March 1, 2013, the Company voided and replaced a holders 1,625,192 warrants with an exercise prices of $0.85 and expire on the fifth anniversary. The replacement warrants hold a value equal to the warrants that were voided.

On February 20, 2013 the Company issued 400,000 warrants to its vendor for curcumin. The warrants have an exercise price of $0.85 per share and have a life of five years from the effective date of a registration statement.

During the six months ended June 31, 2013, the Company issued 607,000 warrants as stock offering costs to the Company’s placement agent. The warrants were not deemed to be derivative instruments because they do not have a reset feature, and therefore no liability was booked related to the warrants.