| | Warrants Outstanding | | Weighted Average Exercise Price | | Average Remaining Life in Years | | |
Outstanding, January 1, 2013 | | 1,388,358 | | $ | 1.57 | | 2.04 | |
Granted | | 2,800,000 | | | 1.80 | | 0.03 | |
Forfeited | | (125,000) | | | 1.20 | | | |
Exercised | | (2,645,580) | | | 1.74 | | | |
Outstanding, December 31, 2013 | | 1,417,778 | | $ | 1.74 | | 0.86 | |