Stock Purchase Warrants (Tables)

12 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Warrant activity

The following is a summary of all common stock warrant activity during the two years ended December 31, 2012:

	Number of Shares Under Warrants		Exercise Price Per Share	Weighted Average Exercise Price
Warrants issued and exercisable at December 31, 2010		11,716,346	$0.31 - $ 2.00	$	0.80
Warrants granted		1,600,000	$0.20 - $0.55	$	0.26
Warrants expired		(8,002,375)	$0.42 - $2.00	$	0.88
Warrants exercised		-
Warrants issued and exercisable at December 31, 2011		5,632,971	$0.20 - $ 1.50	$	0.51
Warrants granted		1,400,000	$0.20		0.20
Warrants expired		(4,552,971)	$0.20 - $1.50	$	0.34
Warrants exercised		-
Warrants issued and exercisable at December 31, 2012		2,480,000	$0.31 - $1.25	$	0.66

Warrants outstanding and exercisable

The following represents additional information related to common stock warrants outstanding and exercisable at December 31, 2012:

Exercise Price		Number of Shares Under Warrants		Weighted Average Remaining Contract Life in Years		Weighted Average Exercise Price
$	0.31		210,000		1.04	$	0.31
$	0.40		25,000		1.88	$	0.40
$	0.50		350,000		1.46	$	0.50
$	0.55		1,176,750		0.91	$	0.55
$	0.85		205,000		0.60	$	0.85
$	1.00		325,750		1.07	$	1.00
$	1.10		10,000		0.10	$	1.10
$	1.25		177,500		1.16	$	1.25
			2,480,000		1.02	$	0.66