A summary of the status of the Company's outstanding stock warrants as of December 31, 2013, and 2012 and changes during the period then ended is as follows:
| Number of Warrants | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (Years) | |||||||
| Balance at December 31, 2011 | - | $ | - | - | |||||
| Granted | 2,268,750 | 0.55 | 5.00 | ||||||
| Cancelled | - | - | - | ||||||
| Forfeited | - | - | - | ||||||
| Exercised | - | - | - | ||||||
| Balance at December 31, 2012 | 2,268,750 | 0.55 | 4.84 | ||||||
| Granted | 1,875,000 | 0.05 | 5.00 | ||||||
| Cancelled | - | - | - | ||||||
| Forfeited | - | - | - | ||||||
| Exercised | (1,250,000) | 0.07 | 5.00 | ||||||
| Balance at December 31, 2013 | 2,893,750 | $ | 0.43 | 4.02 | |||||
| Warrants exercisable at December 31, 2013 | 2,893,750 | $ | 0.43 | 4.02 | |||||
| Weighted average fair value of warrants granted during the year ended December 31, 2013 | $ | 0.22 |