In 2013, the Company issued 78,710 shares of Common Stock pursuant to cashless exercises of 153,415 warrants to consultants for a weighted average exercise price of $5.00 per share.

  

In 2013, the Company issued 78,636 shares of Common Stock pursuant to the cashless exercise of 328,510 warrants at a weighted average exercise price of $5.45, and 340 shares of Common Stock for cash proceeds of $1,098.

 

For the year ended December 31, 2014, the Company did not issue any shares of Common Stock pursuant to the exercise of warrants. At December 31, 2014, the Company had outstanding warrants of 711,895.