Subsequent Event

3 Months Ended

Mar. 31, 2013

Subsequent Event

Subsequent Event

13. Subsequent Event

The Company has evaluated all events or transactions through the date of this filing. During this period the Company identified the following events for disclosure:

During the first quarter of 2013, 5,438,596 of the 2011 warrants were exercised pursuant to the cashless exercise provisions resulting in the issuance of 2,000,000 shares of common stock in April 2013.

During the second quarter of 2013 certain holders of the Company’s 5% Senior Secured Convertible Debentures converted $300,000 of debentures at an exercise price of $0.10 per share resulting in the issuance of 3,000,000 shares of the Company’s common stock.