Note 8 - Warrants to Purchase Common Stock

6 Months Ended

Jun. 30, 2014

Note 8 - Warrants To Purchase Common Stock

Note 8 - Warrants to Purchase Common Stock

NOTE 8 - WARRANTS TO PURCHASE COMMON STOCK

During the quarter ended June 30, 2014, the Company issued, in connection with private placement offerings for the sale of common stock, warrants to purchase 1,596,361 shares of the Company’s common stock at an exercise price of $0.50 and $0.90. All warrants are still outstanding as of June 30, 2014 and expire at various dates through 2019. A summary of warrants issued, exercised and expired for the six months ended June 30, 2014 follows:  

	Shares	Weighted-Average Exercise Price ($)	Weighted-Average Remaining Contractual Term
Outstanding at December 31, 2013	10,486,066	$0.98	0.83
Granted	1,596,361	0.60	4.73
Exercised	—	—	—
Expired	(17,900)	3.00	—
Outstanding at June 30 2014	12,064,527	$0.93	1.37
Exercisable at June 30, 2014	12,064,527	$0.93	1.37