The Company valued the warrants at $0.10 per warrant using the Black-Scholes option pricing model.
| Warrants Outstanding and Exercisable | |||||||||||||
| Weighted | |||||||||||||
| Average | |||||||||||||
| Weighted | Remaining | ||||||||||||
| Average | Aggregate | Contractual | |||||||||||
| Number of | Exercise | Intrinsic | Life | ||||||||||
| Shares | Price | Value | (In Years) | ||||||||||
| 247,489 | $ | 0.30 | $ | - | 6.99 | ||||||||