Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Stockholders' Equity [Abstract]

Stockholders' Equity

6.      Stockholders’ Equity

The Company issued a stock warrant dividend of one warrant per one common share outstanding as of the record date of March 23, 2012.  A total of 7,983,175 warrants were issued and have an exercise price of $4.00.  The warrants are exercisable over 6 years from the record date.  The Company has the right to call the warrants in the future if the market price of the common stock exceeds 150% of the exercise price of the warrant ($6.00).  A total of 22,400 warrants to purchase an equal number of common shares for proceeds of $89,600 were exercised during the nine months ending September 30, 2013. The following table summarizes the warrants outstanding at December 31, 2012 and September 30, 2013:

Warrants outstanding, December 31, 2012	7,983,175
Warrants exercised	(22,400	)
Warrants outstanding, September 30, 2013	7,960,775