A summary of our Warrants activity and related information follows:
| Number of Shares Under Warrant | Range of Warrant Price Per Share | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life | |||||||||||||
| Balance at December 31, 2011 | 34,846,421 | $ | 0.52-$1.25 | $ | 0.95 | 5.7 | ||||||||||
| Granted | 569,638 | $ | 0.77-$1.65 | $ | 1.20 | 3.7 | ||||||||||
| Exercised | (1,329,349 | ) | $ | 0.52-$0.55 | $ | 0.53 | — | |||||||||
| Expired | — | |||||||||||||||
| Cancelled | (10,000 | ) | $ | 0.55 | $ | 0.55 | — | |||||||||
| Balance at December 31, 2012 | 34,076,710 | $ | 0.52-$1.65 | $ | 0.97 | 4.7 | ||||||||||
| Granted | 2,500,000 | $ | 0.60 | $ | 0.60 | 4.3 | ||||||||||
| Exercised | (179,638 | ) | $ | 0.52 | $ | 0.52 | — | |||||||||
| Expired | (1,931,250 | ) | $ | 0.52 | $ | 0.52 | — | |||||||||
| Cancelled | — | |||||||||||||||
| Balance at December 31, 2013 | 34,465,822 | $ | 0.52-$1.65 | $ | 0.96 | 4.0 | ||||||||||
| Vested and Exercisable at December 31, 2013 | 34,465,822 | $ | 0.52-$1.65 | $ | 0.96 | 4.0 | ||||||||||
During the year ended December 31, 2012, the Company issued the following:
| Number of Shares Under Warrant | Exercise Price | Exercise Term in Years | Fair Value | ||||||||||||
| Services (see Note 15) | 340,000 | $ | 0.77-$1.65 | 5 | $ | 345,600 | |||||||||
| Services (see below) | 229,638 | $ | 0.52-$1.52 | 1-5 | 139,456 | ||||||||||
| 569,638 | $ | 485,056 | |||||||||||||