Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v2.4.0.6
Warrants (Tables)
12 Months Ended
Dec. 31, 2012
Warrants [Abstract]  
Summary of warrant issued
During the year ended December 31, 2011, the Company also issued the following warrants:
 
Warrants issued with convertible notes (See Note 5)
   
287,061
 
Warrants issued to investors with Stock Offering (See Note 9)
   
1,972,766
 
Placement agent warrants related to issuance of:
       
    Convertible Notes
   
143,532
 
    Stock Offering (See Note 6 and Note 9)
   
986,383
 
         
Total
   
3,389,752
 
 
During the year ended December 31, 2012, the Company also issued the following warrants:
 
Warrants issued to investors with Stock Offering (See Note 6)
   
242,189
 
Warrants issued to investors with Common Stock
   
4,678,491
 
Placement agent warrants related to issuance of:
       
    Stock Offering (See Note 6 and Note 9)
   
121,094
 
    2012 Common Stock Offering
   
467,845
 
Warrants issued to investors with stock – accrued dividend
   
180,115 
 
Total
   
5,689,734
 
Summary of warrant activities
 
               
Weighted
       
               
Average
       
         
Weighted
   
Remaining
   
Aggregate
 
         
Average
   
Contractual
   
Intrinsic
 
   
Number of Units
   
Exercise Price
   
Term (in years)
   
Value
 
                         
Outstanding, December 31, 2010
   
-
   
$
-
     
-
   
$
-
 
Granted
   
5,364,557
     
0.51
     
6.76
         
                                 
Outstanding, December 31, 2011
   
5,364,557
     
0.51
     
6.76
     
3,261,367
 
Granted
   
7,406,079
     
1.32
     
3.76
         
                                 
Outstanding, December 31, 2012
   
12,770,636
   
$
0. 97
     
4.48
   
$
6,114,768