As of December 31, 2013 and 2012, the Company had outstanding dilutive securities, consisting entirely of warrants. Changes in warrants outstanding are as follows:
| Shares | Weighted Average Exercise Price | Average Remaining Contractual Life | ||||||||
| Balance December 31, 2011 | 1,125,000 | $ | 1.25 | 0.27 years | ||||||
| Granted | 2,246,843 | $ | 0.01 | |||||||
| Exercised | (200,000 | ) | $ | 0.01 | ||||||
| Balance December 31, 2012 | 3,171,843 | $ | 0.45 | 1.75 years | ||||||
| Exercised | (350,000 | ) | $ | 0.01 | ||||||
| Cancelled or Expired | (1,125,000 | ) | $ | 1.25 | ||||||
| Balance December 31, 2013 | 1,696,843 | $ | 0.01 | 3.35 years | ||||||