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6. Outstanding Warrants (Tables)
 9 Months Ended
Sep. 30, 2012
Outstanding Warrants Tables  
Schedule of warrant activity

A summary of warrant activity for the nine months ended September 30, 2012 is as follows:

 

Preferred Stock  Warrants Issued & Outstanding  Weighted - Average Exercise Price  Warrants Issued & Exercisable  Average Remaining Term in Years
Outstanding December 31, 2011   392,479   $3.000    392,479    0.25 
Expired   (363,282)   3.000    (363,282)   —   
Outstanding March 31, 2012   29,197    3.000    29,197    0.27 
Expired   (23,072)   3.000    (23,072)   —   
Outstanding June 30, 2012   6,125    3.000    6,125    0.13 
Expired   (6,125)   3.000    (6,125)   —   
Outstanding September 30, 2012   —     $—      —      —   
                     
                     
Common Stock    Warrants Issued & Outstanding      Weighted - Average Exercise Price      Warrants Issued & Exercisable     Average Remaining Term in Years 
Outstanding December 31, 2011   1,428,590   $0.790    1,428,590    3.34 
Expired   (5,000)   3.000    (5,000)   —   
Granted   1,000,000    0.001    1,000,000    —   
Exercised   (166,667)   0.001    (166,667)   —   
Outstanding March 31, 2012   2,256,923    0.220    2,256,923    3.56 
Granted   370,000    0.001    370,000    —   
Exercised   (236,667)   0.001    (236,667)   —   
Outstanding June 30, 2012   2,390,256    0.200    2,390,256    3.40 
Exercised   (833,333)   0.001    (833,333)   —   
Outstanding September 30, 2012   1,556,923   $0.310    1,556,923    2.80