Warrant activity during the years ended December 31, 2013 and 2012 is as follows:
| Warrants | Weighted-Average Exercise Price | Aggregate Intrinsic Value | ||||||||||
| Outstanding at January 1, 2012 | 1,000,000 | $ | 0.50 | $ | — | |||||||
| Granted | — | — | — | |||||||||
| Exercised | — | — | — | |||||||||
| Expired | — | — | — | |||||||||
| Outstanding and exercisable at December 31, 2012 | 1,000,000 | 0.50 | — | |||||||||
| Granted | — | — | — | |||||||||
| Exercised | — | — | — | |||||||||
| Expired | — | — | — | |||||||||
| Outstanding and exercisable at December 31, 2013 | 1,000,000 | $ | 0.50 | $ | — | |||||||