The following is a summary of the Company’s warrant activity:
| Warrants | Weighted Average Exercise Price | ||||||||
| Outstanding – January 01, 2012 | - | $ | - | ||||||
| Exercisable – January 01, 2012 | - | $ | - | ||||||
| Granted | 505,400 | $ | 1.00 | ||||||
| Exercised | - | $ | - | ||||||
| Forfeited/Cancelled | - | $ | - | ||||||
| Outstanding – December 31, 2012 | 505,400 | $ | 1.00 | ||||||
| Exercisable – December 31, 2012 | 505,400 | $ | 1.00 | ||||||
| Granted | 386,667 | $ | 1.50 | ||||||
| Exercised | - | $ | - | ||||||
| Forfeited/Cancelled | - | $ | - | ||||||
| Outstanding – December 31, 2013 | 892,067 | $ | 1.22 | ||||||
| Exercisable – December 31, 2013 | 892,067 | $ | 1.22 | ||||||