| Date Issued | Number of Warrants | Weighted Average Exercise Price | Weighted Average Grant Date Fair Value | Expiration Date (yrs) | Value if Exercised | |||||||||||||||
| Balance June 30, 2012 | 6,529,331 | $ | 2.84 | $ | 3.55 | 1.95 | $ | 4,835,028 | ||||||||||||
| Granted | 1,395,732 | 0.33 | 0.19 | 4.17 | 458,185 | |||||||||||||||
| Exercised | - | - | - | - | - | |||||||||||||||
| Cancelled/Expired | (395,000 | ) | (0.82 | ) | - | - | (522,500 | ) | ||||||||||||
| Outstanding as of June 30, 2013 | 7,530,063 | $ | 0.67 | $ | 2.45 | 4.17 | $ | 4,770,713 | ||||||||||||
The following table summarizes the changes in options outstanding issued to employees of the Company during the fiscal year ended June 30, 2012.
| Date Issued | Number of Warrants | Weighted Average Exercise Price | Weighted Average Grant Date Fair Value | Expiration Date (yrs) | Value if Exercised | |||||||||||||||
| Balance June 30, 2011 | 5,756,380 | $ | 0.86 | $ | 3.95 | 2.95 | $ | 4,175,564 | ||||||||||||
| Granted | 1,611,201 | 0.45 | 0.41 | 4.00 | 659,463 | |||||||||||||||
| Exercised | - | - | - | - | - | |||||||||||||||
| Cancelled/Expired | (838,250 | ) | - | - | - | - | ||||||||||||||
| Outstanding as of June 30, 2012 | 6,529,331 | $ | 2.84 | $ | 3.55 | 1.95 | $ | 4,835,028 | ||||||||||||