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7. Outstanding Warrants

9 Months Ended

Sep. 30, 2015

During the three months ended September 30, 2015 the Company issued 113 thousand common stock warrants. During the nine months ended September 30, 2015, the Company issued 229 thousand common stock warrants. All issuances during 2015 were made to accredited investors who entered into amendments to Note and Warrant Purchase Agreements.

For the nine months ended September 30, 2015, note investors and employees exercised 235 thousand warrant shares at the weighted average exercise price of $0.04 per share.

A summary of warrant activity for the three months ended March 31, 2015, June 30, 2015, and September 30, 2015 follows:

	Warrants Outstanding & Exercisable			Weighted - Average Exercise Price		Average Remaining Term in Years
Outstanding December 31, 2014		351		$	3.05		2.69
Expired		-			-
Granted		116			0.01
Exercised		(116	)		0.01
Outstanding March 31, 2015		351		$	3.05		2.45
Expired		-			-		-
Granted		-			-		-
Exercised		-			-		-
Outstanding June 30, 2015		351		$	3.05		2.20
Expired		(3	)		1.30
Granted		113			0.01
Exercised		(119	)		0.08
Outstanding September 30, 2015		342		$	3.10		1.99