During the first nine months of 2012, an outside investor exercised 20,000 Series V warrants in exchange for issuance of 20,000 shares of our common stock, resulting in gross proceeds of $6,200.

At September 30, 2012, there are 17.5 million warrants outstanding to purchase our common stock. The warrants are exercisable at prices ranging from $0.32 to $2.375 per share with a weighted average exercise price of $0.56 per share.