EQUITY (Tables)

12 Months Ended

Dec. 31, 2012

Equity Tables

Summary of common stock activity

The following table summarizes outstanding common stock activity for the following periods:

	Common Stock
Shares outstanding at December 31, 2010		23,838,777
Shares issued pursuant to the Qualified Financing		20,090,000
Conversion of preferred stock into common		11,768,525
Conversion of convertible debt into common stock		9,774,559
Shares issued pursuant to warrants exercised for cash		1,310,000
Shares issued pursuant to cashless warrants exercised		1,194,547
Shares issued pursuant to options exercised		14,587
Shares issued as compensation in lieu of cash		10,000
Recoup of forfeited restricted stock grants		(12,079)
Shares outstanding at December 31, 2011		67,988,916
Shares issued pursuant to warrants exercised for cash		7,052,647
Shares issued pursuant to cashless warrants exercised		1,573,362
Shares issued pursuant to options exercised		24,924
Shares outstanding at December 31, 2012		76,639,849

Summary of warrant activity

The following table summarizes warrant activity for the following periods:

	Warrants		Weighted-
			Average
			Exercise Price
Balance at December 31, 2010		19,737,612	$	0.54
Granted		12,802,500	$	0.52
Expired / Canceled		(546,044)	$	0.50
Exercised		(3,540,308)	$	0.50
Balance at December 31, 2011		28,453,760	$	0.52
Granted		305,000	$	0.92
Expired / Canceled		(12,000)	$	0.50
Exercised		(9,958,275)	$	0.50
Balance at December 31, 2012		18,788,485	$	0.56

Summary of stock option plans activity

The following table summarizes information regarding the warrants outstanding as of December 31, 2012:

Exercise Price		Number Outstanding	Weighted—Average  Remaining Life (Years)	Weighted—Average  Exercise Price
$	0.50	17,029,456	2.97	$	0.50
$	0.60	200,000	1.76	$	0.60
$	0.80	150,000	5.00	$	0.80
$	0.98	100,000	1.63	$	0.98
$	1.00	265,280	1.58	$	1.00
$	1.10	50,000	2.59	$	1.10
$	1.20	270,833	0.20	$	1.20
$	1.25	305,000	0.46	$	1.25
$	1.67	417,916	0.23	$	1.67
		18,788,485