Year Ended 6/30/2013 | Year Ended 6/30/2013 | Year Ended 6/30/2012 | Year Ended 6/30/2012 | |
Shares | Weighted-Average Exercise Price | Shares | Weighted-Average Exercise Price | |
Warrants outstanding as of July 1 | 3,555,352 | 0.59 | 3,027,291 | $0.58 |
Issued | 2,400,000 | 1.12 | 1,100,000 | 0.93 |
Exercised | (1,104,204) | 0.08 | - | - |
Expired | (1,070,796) | 0.92 | (571,939) | 2.78 |
Warrants outstanding as of June 30 | 3,780,352 | $0.99 | 3,555,352 | $0.59 |
Warrants exercisable as of June 30 | 1,958,688 | $0.88 | 2,055,352 | $0.58 |
Weighted-average fair value of warrants granted during the year | $0.71 | $0.71 |