A summary of warrant activity for the years ended March 31, 2013 and 2012 is presented as follows.
Weighted- | ||||||||||||
Shares issuable | average | Expiration | ||||||||||
under warrants | exercise price | date | ||||||||||
Outstanding, March 31, 2012 and 2011 | 405,000 | $ | 0.07 | April 13, 2013 | ||||||||
Repurchased | (16,800 | ) | $ | 0.07 | April 13, 2013 | |||||||
Issued | 16,800 | $ | 0.07 | April 13, 2016 | ||||||||
Amended (old expiration date) | (388,200 | ) | $ | 0.07 | April 13, 2013 | |||||||
Amended (new expiration date) | 388,200 | $ | 0.07 | April 13, 2016 | ||||||||
Outstanding, March 31, 2013 | 405,000 | $ | 0.07 | April 13, 2016 |