Options

Weighted Average Exercise Price

Weighted Average Remaining Contractual Life (in years)

Options outstanding as of December 31, 2012

1,790,002

$

1.49

2.64

Granted at fair value

-

Exercised

(35,001

)

$

1.19

-

Canceled/expired/forfeited

(50,000

)

$

1.60

-

Options outstanding as of March 31, 2013

1,705,001

$

1.50

1.79

Options exercisable as of March 31, 2013

1,360,001

$

1.48

1.60