Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2014

Warrants Outstanding to Purchase Common Stock

At March 31, 2014, 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 1.3 years:

Warrant Description	Common Shares Issuable Upon Exercise of Outstanding Warrants at March 31, 2014		Exercise Price CAD/ UDS		Expiration Date
Investor warrants (1)		13,337	$	1.44 CAD	April 30, 2015
Investor warrants (2)		4,698	$	1.44 CAD	March 29, 2016
Investor warrants (3)		4,000	$	0.50 USD	November 22, 2018
		22,035

Schedule of Share-based Compensation, Stock Options, Activity

The following is a summary of option activity for the three months ended March 31, 2014 for stock options denominated in Canadian dollars:

	Number of Options(thousands)	Weighted-average Exercise Price
Outstanding at December 31, 2013	4,093	CAD$	0.79
Granted	-		-
Exercised	-		-
Expired	-		-

Outstanding at March 31, 2014	4,093	CAD$	0.79

The following is a summary of option activity for the three months ended March 31, 2014 for stock options denominated in U.S. dollars (all exercisable and fully vested at grant date):

	Number of Options(thousands)		Weighted-average Exercise Price
Outstanding at December 31, 2013		1,631	$	0.60
Granted		529		0.53
Exercised		(150)		(0.35)
Expired		-		-

Outstanding at March 31, 2014		2,010	$	0.55

- 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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