| Date of Issuance | Number of Warrants | Exercise Price | Contractual Life | Number of Shares Exercisable | |||||||||||||
| May 31, 2012 | 1,834,525 | 0.50 | 3 years | 1,834,525 | |||||||||||||
| May 31, 2012 | 1,500,975 | 0.50 | 3 years | 1,500,975 | |||||||||||||
| July 30, 2012 | 75,000 | 0.50 | 3 years | 75,000 | |||||||||||||
| October 30, 2012 | 50,000 | 0.50 | 3 years | 50,000 | |||||||||||||
| 3,460,500 | 3,460,500 | ||||||||||||||||