Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS WARRANTS (Tables)

STOCKHOLDERS WARRANTS (Tables)

12 Months Ended

Dec. 31, 2012

A summary of the status of the Company’s warrants is presented below.


	December 31, 2012		December 31, 2011
	Number of	Weighted Average	Number of	Weighted Average
	Warrants	Exercise Price	Warrants	Exercise Price
Outstanding, beginning of year	20,413,430	0.19	15,856,999	0.17

Issued	1,425,112	0.12	11,055,097	0.16

Exercised	(583,333)	0.15	(2,740,000)	0.09

Expired	(4,890,000)	0.23	(3,758,666)	0.11

Outstanding, end of period	16,365,209	$ 0.17	20,413,430	$ 0.19

Warrants outstanding and exercisable

Warrants outstanding and exercisable by price range as of December 31, 2012 were as follows:


Outstanding Warrants			Exercisable Warrants
		Average
		Weighted		Weighted
		Remaining		Average
		Contractual		Exercise
Range	Number	Life in Years	Number	Price

$ 0.100	35,000	0.49	35,000	$ 0.100
$ 0.120	840,612	2.14	790,612	$ 0.120
$ 0.125	7,464,597	1.84	7,464,597	$ 0.125
$ 0.150	2,850,000	1.18	2,850,000	$ 0.150
$ 0.225	600,000	0.86	600,000	$ 0.225
$ 0.250	4,175,000	0.61	4,175,000	$ 0.250
$ 0.500	400,000	0.48	400,000	$ 0.500

	16,365,209	1.60	16,315,209	$ 0.17

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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