Warrants

9 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Note 6 - Warrants

In August 2011, certain holders of the Company's warrants elected to convert 679,000 warrants into 360,000 shares of common stock of the Company (the "Warrant Conversion").

A summary of warrants granted, exercised, exchanged, forfeited and outstanding as of, and changes made during, the nine months ended September 30, 2011, is presented below (in thousands):

	Warrants	Weighted Average Exercise Price
Warrants outstanding, January 1, 2011	712	$ 1.98
Granted	—
Exercised	(679)
Forfeited	—
Warrants outstanding, September 30, 2011	33	$ 1.60

All of our outstanding warrants as of September 30, 2011 are exercisable with an exercise price of $1.60 and have an expiration date of November 25, 2013.