11. SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

11.SUBSEQUENT EVENTS

Warrant Exercises – From July 1, 2014 through August 13, 2014, certain holders exercised warrants in cash for an aggregate of 2,673,290 shares of the Company’s common stock for aggregate cash payments to the Company of $20,868,034. Also during that period, the Company paid an aggregate of $1,471,000 in cash to certain warrant holders as an inducement to exercise their warrants.

A summary as of August 13, 2014 of outstanding warrants, which the Company recorded at fair value, with a weighted-average exercise price of $7.81, is as follows:

Issuance Date	Expiration Date	Exercise Price	Warrants Outstanding
06/21/2013	06/21/2015	$7.59		82,500
03/28/2013	03/28/2015	$7.59		61,900
09/26/2012	09/26/2015	$8.85		748,300
07/3/2012	07/03/2017	$6.09		390,500
12/13/2011	12/13/2016	$8.43		140,500
				1,423,700