Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of Available Outstanding Shares for Future Issuance

At September 30, 2014 the following shares were outstanding and available for future issuance under the option plan:


Plan	Shares Outstanding		Shares Available for Issuance
2005 Equity Incentive Plan		104,000		179,058

Summary of Stock Option Activity under Equity Incentive Plan and Warrants Issued Outside Plan

The following is a summary of stock option and warrant activity under our equity incentive plan and warrants issued outside of the plan to employees and consultants, during the nine months ended September 30, 2014:


	Number of Options or Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)
Balance outstanding, December 31, 2013		144,000		$	31.80		2.1
Granted		1,459,100		$	0.80		9.9
Exercised		0		$	0		0
Cancelled		(0	)	$	0		0
Cancelled (unvested)		(42,000	)	$	33.11		0
Expired (vested)		0			0		0

Balance outstanding, September 30, 2014		1,561,100		$	2.84		9.1

Balance exercisable, September 30, 2014		1,561,100		$	2.84		9.1

Summary of Warrant Activity

The following table summarizes warrant activity issued in connection with financing transactions for the nine months ended September 30, 2014:


	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)
Balance outstanding, December 31, 2013		978,830		$	19.82		1.9
Warrants issued
Warrants exercised
Warrants expired		(105,494	)	$	32.68
Warrants cancelled

Balance outstanding, September 30, 2014		873,336		$	17.79		1.31

Warrants exercisable at September 30, 2014		873,336		$	17.79		1.31

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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