Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Warrants Outstanding to Purchase Common Stock

At June 30, 2012, the Company had the following warrants outstanding to purchase common stock priced in Canadian dollars with a weighted average exercise price of CAD $1.44 and a weighted average remaining life of 3.0 years:

Warrant Description	Common Shares Issuable Upon Exercise of Outstanding Warrants at June 30, 2012		Exercise Price In CAD Dollars		Expiration Date
Investor warrants (1)		13,337	$	1.44	April 30, 2015
Investor warrants (2)		4,698	$	1.44	March 29, 2016
		18,035

(1) On April 30, 2010, the Company announced that it had completed a first closing of a non-brokered private placement (“Private Placement”) of 240,066 units, at a price of CAD $0.03 per unit for net proceeds of CAD$7,200. Each unit consisted of one common share and one common share purchase warrant (a “Warrant”). As a result of the Share Consolidation, each eighteen (18) Warrants now entitle the holder thereof to purchase one common share of the Company at a purchase price of CAD$1.44 per whole share for a period of five years from the issue date.

(2) On March 29, 2011, the Company announced that it had completed a non-brokered rights offering of 84,559 units, at a price of CAD $0.03 per unit for total net proceeds of $2,547. Each unit consisted of one common share and one common share purchase warrant (a “Warrant”). As a result of the Share Consolidation, each eighteen (18) Warrants now entitle the holder thereof to purchase one common share of the Company at a purchase price of CAD$1.44 per whole share for a period of five years from the issue date.

Currency, Canadian Dollar

Summary of Option Activity for Stock Options

The following is a summary of option activity for the six months ended June 30, 2012 for stock options denominated in Canadian dollars:

Options in thousands	Number of Options (thousands)		Weighted-average Exercise Price
Outstanding at December 31, 2011		4,171	CAD$	0.78
Granted		0		0
Exercised		0		0
Expired		0		0
Outstanding at June 30, 2012		4,171	CAD$	0.78

Currency, U.S. Dollar

Summary of Option Activity for Stock Options

The following is a summary of option activity for the six months ended June 30, 2012 for stock options denominated in U.S. dollars:

Options in thousands	Number of Options (thousands)			Weighted-average Exercise Price
Outstanding at December 31, 2011		963		$	8.51
Granted		315			0.20
Exercised		0			0
Expired		(39	)		1.20
Outstanding at June 30, 2012		1,239		$	6.63

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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