Warrants | ||||||||
Weighted- | ||||||||
Average | ||||||||
Warrants | Exercise Price | |||||||
Outstanding at January 1, 2012 | 2,219,546 | $ | 5.84 | |||||
Issued | 5,300 | $ | 5.04 | |||||
Exercised | — | $ | — | |||||
Expired | (9,166 | ) | $ | 6.30 | ||||
Conversion to Common Stock | (234,019 | ) | $ | 6.77 | ||||
Outstanding at January 1, 2013 | 1,981,661 | $ | 5.75 | |||||
Issued | 2,167,500 | $ | 1.00 | |||||
Exercised | — | $ | — | |||||
Expired | (1,191 | ) | $ | 6.30 | ||||
Anti-dilution additional warrants issued | 132,583 | $ | 6.69 | |||||
Outstanding at December 31, 2013 | 4,280,553 | $ | 3.17 |