Changes in stock purchase warrants during the periods ended December 31, 2013 and 2012 are as follows:
| Weighted Average |
Aggregate | Weighted Average |
||||||||||||||||||
| Number of | Exercise | Intrinsic | Remaining | |||||||||||||||||
| Warrants | Price | Value | Exercisable | Life | ||||||||||||||||
| Outstanding, December 31, 2011 | - | $ | - | $ | - | - | $ | - | ||||||||||||
| Exercisable, December 31, 2011 | - | - | - | |||||||||||||||||
| Issued | 60,000 | 4.00 | 60,000 | 5 years | ||||||||||||||||
| Exercised | - | - | - | |||||||||||||||||
| Cancelled | - | - | - | |||||||||||||||||
| Outstanding, December 31, 2012 | 60,000 | 4.00 | - | 60,000 | 5 years | |||||||||||||||
| Exercisable, December 31, 2012 | 60,000 | 4.00 | - | 60,000 | 5 years | |||||||||||||||
| Issued | - | - | - | - | - | |||||||||||||||
| Exercised | - | - | - | - | - | |||||||||||||||
| Cancelled | (60,000 | ) | (4.00 | ) | - | (60,000 | ) | - | ||||||||||||
| Outstanding, December 31, 2013 | - | $ | - | $ | - | - | - | |||||||||||||
| Exercisable, December 31, 2013 | - | $ | - | $ | - | - | N/A | |||||||||||||