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WARRANTS
6 Months Ended
Jun. 30, 2011
Notes to Financial Statements  
WARRANTS

 

NOTE 7. WARRANTS

 

The Company issued warrants to purchase shares of its common stock in conjunction with private placement offerings in 2007 and 2008 and a consulting agreement in 2008. The expiration of the outstanding warrants occurs through May 2013 at various periods.

 

A summary of the status of the warrants for the six months ended June 30, 2011 is as follows:

 

   Number of Shares Subject to Warrants Outstanding  Weighted Avg. Exercise Price
           
Warrants outstanding - January 1, 2011   768,980   $4.10 
Granted   —        
Exercised   —        
Expired   (5,000)   (2.00)
Warrants outstanding and exercisable - June 30, 2011   763,980   $4.15 
Weighted average remaining contractual life of the outstanding warrants in years - June 30, 2011   1.41