Quarterly report pursuant to Section 13 or 15(d)

Warrants

Warrants

3 Months Ended

Mar. 31, 2015

Text Block [Abstract]

5. Warrants

A summary of warrant activity for the year ended December 31, 2014 and the three months ended March 31, 2015 is as follows:


		Warrants				Weighted Average Price
Balance - December 31, 2013			2,747,094			$	1.91
Granted			—				—
Exercised			(210,000	)			1.50
Expired			(5,000	)			(10.00	)

Balance - December 31, 2014			2,532,094				1.93
Granted			—				—
Exercised			—				—
Expired			(2,170,925	)			(2.00	)

Balance - March 31, 2015			361,169			$	1.50

On March 23, 2015, warrants to acquire 2,170,925 shares of the Company’s common stock at a price of $2.00 per share expired.

The warrants outstanding as of March 31, 2015 are as follows:


Exercise Price		Warrants Outstanding				Expiration Dates
$1.50			361,169				7/31/17

			361,169