v2.4.1.9
EQUITY TRANSACTIONS (Tables)
 9 Months Ended
Sep. 30, 2014
Equity Transactions Tables  
Schedule of Outstanding Convertible Preferred Stock

The table below summarizes the Company’s outstanding convertible preferred stock as of September 30, 2014 and December 31, 2013:

 

  September 30, 2014   December 31, 2013  
                           
Convertible Preferred Stock  

Number of

Preferred Shares

  

Number of

Common Shares

if Converted

  

Weighted

Average

Conversion Price

  

Number of

Preferred Shares

  

Number of

Common Shares

if Converted

  

Weighted

Average

Conversion Price

  
                           
Series A Preferred     1,466   1,629,006   $ 0.90   1,466   1,629,006   $ 0.90  
Series B Preferred     5,124   5,693,344   $ 0.90   5,124   5,693,344   $ 0.90  
Series C Preferred     813   902,778   $ 0.90   813   902,778   $ 0.90  
                                 
  Total     7,403   8,225,128   $ 0.90   7,403   8,225,128   $ 0.90  
Schedule of Stock Warrant Activity

A summary of the warrants issued in connection with financing transactions is presented in the table below:

 

   

Number of

Shares

    

Weighted

Average

Exercise Price

  
             
                 
Outstanding and Exercisable at December 31, 2013     14,394,914     $ 0.58  
                 
Granted     1,360,000     $ 0.50  
Exercised     -     $ -  
Cancelled, forfeited or expired     (1,800,005)     $ 0.40  
Anti-dilution adjustments:                
     Initial grant     (9,858,011)     $ 0.56  
     Initial grant re-pricing         9,858,011     $ 0.46  
     Additional warrants granted     4,738,503     $ 0.42  
                 
Outstanding and Exercisable at September 30, 2014 (unaudited)     18,693,412     $ 0.46  
Schedule of Warrants Outstanding and Exercisable

The following table summarizes information about warrants outstanding and exercisable as of September 30, 2014:

 

    Outstanding   Exercisable
                         
Exercise Price  

Number

of Shares

  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining Life

(Years)

  

Number

of Shares

  

Weighted

Average

Exercise

Price

  

Weighted

Average

Remaining Life

(Years)

                         
$ 0.09   1,083,334   $ 0.09   4.75   1,083,334   $ 0.09   4.75
                               
$ 0.40   10,876,502   $ 0.40   3.38   10,876,502   $ 0.40   3.38
                               
$ 0.50   1,360,000     0.50   4.88   1,360,000     0.50   4.88
                               
$ 0.60   3,453,569   $ 0.60   4.92   3,453,569   $ 0.60   4.92
                               
$ 0.75   1,920,007   $ 0.75   2.05   1,920,007   $ 0.75   2.05
                               
      18,693,412   $ 0.46   3.92   18,693,412   $ 0.46   3.92