As a result of the Company's borrowings described above, as of December 31, 2013 and 2012 there were warrants outstanding to purchase 93.5 million and 122.5 million shares, respectively, of the Company's common stock as shown in the table below:
| Outstanding Warrants | Strike Price | |||||||||||||||
| December 31, 2013 | December 31, 2012 | December 31, 2013 | December 31, 2012 | |||||||||||||
| Contingent Equity Agreement (1) | 41,467,980 | 41,467,980 | $ | 0.01 | $ | 0.01 | ||||||||||
| Thermo Loan Agreement (2) | 4,205,608 | 4,205,608 | 0.01 | 0.01 | ||||||||||||
| 5.0% Notes (3) | 8,000,000 | 15,200,000 | 0.32 | 1.25 | ||||||||||||
| 8.00% Notes Issued in 2009 (4) | 39,842,813 | 61,606,706 | 0.32 | 0.32 | ||||||||||||
| 93,516,401 | 122,480,294 | |||||||||||||||
| (1) | Warrants issued in connection with the Contingent Equity Agreement have a five year exercise period from issuance. These warrants were issued between June 2009 and June 2012 and the exercise periods will expire from June 2014 to June 2017. |
| (2) | The exercise period of the warrants issued in connection with the Thermo Loan Agreement is five years from issuance, which is June 2014. |
| (3) | On April 15, 2013, the exercise price of the 5.0% Warrants was reset to $0.32 due to the reset provision in the indenture. The 5.0% Warrants are exercisable until five years after their issuance, which is June 2016. |
| (4) | According to the terms of the indenture, additional 8.00% Warrants may be issued to holders if shares of common stock are issued below the then current warrant strike price. The exercise period for the 8.00% Warrants began on December 19, 2009 and will end on June 14, 2014. |