| Schedule of Common Stock Sold |
During 2012 the Company sold, pursuant to the Company's effective registration statement filed with the SEC, equity in the Company as follows: | Date | | Shares issued | | Warrants issued | | Unit price | | Proceeds | | | July 30, 2012 | | 589,227 | | 117,846 | | $ | 2.97 | | $ | 1,745,549 | * | | August 28, 2012 | | 1,900,000 | | 380,000 | | $ | 2.97 | | $ | 5,229,201 | ** | | October 3, 2012 | | 1,250,000 | | 250,000 | | $ | 4.49 | | $ | 5,275,750 | *** | | Total | | 3,739,227 | | 747,846 | | | | | $ | 12,250,500 | | ____________________ | (*) | Net of fees of $4,455 | | (**) | Net of fees of $413,719 | | (***) | Net of fees of $336,750 | |
| Schedule of Option Activity |
Activity in stock options is summarized below: | | | | | | | | | Weighted | | | | | | | | | | Weighted | | Average | | | | | | | Number of | | Average | | Remaining | | Aggregate | | | | Subject to | | Exercise | | Contractual | | Intrinsic | | | | Option | | Price | | Term (Years) | | Value | | Balance at January 1, 2011 | | 1,734,199 | | | $ | 11.64 | | 4.3 | | $ | 281,600 | | | | Granted | | - | | | $ | 20.43 | | | | | | | Cancelled | | (379,550 | ) | | $ | 3.72 | | | | | | | Exercised | | (85,000 | ) | | $ | 9.48 | | | | | | | Balance at December 31, 2011 | | 1,269,649 | | | $ | 11.64 | | 4.2 | | $ | - | | | | Granted | | (151,750 | ) | | $ | 12.76 | | | | | | | Cancelled | | - | | | $ | - | | | | | | | Exercised | | - | | | $ | - | | | | | | | Balance at December 31, 2012 | | 1,117,899 | | | $ | 9.03 | | 3.7 | | $ | 4,250 | | | | Granted | | 499,700 | | | $ | 5.26 | | | | | | | Cancelled | | (64,500 | ) | | $ | 12.81 | | | | | | | Exercised | | (72,500 | ) | | $ | 4.83 | | | | | | | Balance at December 31, 2013 | | 1,480,599 | | | $ | 7.80 | | 5.2 | | $ | 399,000 | Activity in warrants is summarized below: | | | Number of Shares Underlying | | | | | | | Warrants and Non-Employee | | Weighted Average | | | | Options Granted | | Exercise Price | | Balance at January 1, 2011 | | 708,909 | | | $ | 5.00 - 9.00 | | | | Exercised | | (4,652 | ) | | | 5.64 | | Terminated | | - | | | | - | | Issued | | - | | | | - | | Balance at December 31, 2011 | | 704,257 | | | $ | 5.00 - 9.00 | | | | Exercised | | - | | | | - | | Terminated | | - | | | | - | | Issued | | 807,846 | | | | 5.12 | | Balance at December 31, 2012 | | 1,512,103 | | | $ | 5.56 | | | | Exercised | | (107,483 | ) | | | 4.45 | | Terminated | | (25,000 | ) | | | 9.00 | | Issued | | - | | | | - | | Balance at December 31, 2013 | | 1,379,620 | | | $ | 5.58 |
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