The following table summarizes the warrant activity for the period from July 26, 2002 (inception) through September 30, 2013:
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| Warrants Outstanding |
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| Weighted |
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| Average |
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|
|
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| Number of |
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| Exercise |
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|
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| Shares |
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| Price |
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| Balance, Inception |
|
| — |
|
| $ | — |
|
| Granted |
|
| — |
|
|
| — |
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| Expired/Cancelled |
|
| — |
|
|
| — |
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| Exercised |
|
| — |
|
|
| — |
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|
|
|
|
|
|
|
|
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| Balance, September 30, 2002 |
|
| — |
|
|
| — |
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| Granted |
|
| 300,000 |
|
|
| 1.66 |
|
| Expired/Cancelled |
|
| — |
|
|
| — |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2003 |
|
| 300,000 |
|
|
| 1.66 |
|
| Granted |
|
| 3,000,000 |
|
|
| 0.14 |
|
| Expired/Cancelled |
|
| — |
|
|
| — |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2004 |
|
| 3,300,000 |
|
|
| 0.28 |
|
| Granted |
|
| 4,715,000 |
|
|
| 0.57 |
|
| Expired/Cancelled |
|
| (3,000,000 | ) |
|
| 0.14 |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2005 |
|
| 5,015,000 |
|
|
| 0.64 |
|
| Granted |
|
| 3,643,864 |
|
|
| 0.61 |
|
| Expired/Cancelled |
|
| (550,000 | ) |
|
| 1.25 |
|
| Exercised |
|
| (327,500 | ) |
|
| 0.55 |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2006 |
|
| 7,781,364 |
|
|
| 0.55 |
|
| Granted |
|
| 2,140,000 |
|
|
| 1.37 |
|
| Expired/Cancelled |
|
| (2,258,000 | ) |
|
| 0.50 |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2007 |
|
| 7,663,364 |
|
|
| 0.75 |
|
| Granted |
|
| 300,000 |
|
|
| 0.60 |
|
| Expired/Cancelled |
|
| (1,332,500 | ) |
|
| 0.31 |
|
| Exercised |
|
| (1,257,500 | ) |
|
| 0.14 |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2008 |
|
| 5,373,364 |
|
|
| 0.84 |
|
| Granted |
|
| — |
|
|
| — |
|
| Expired/Cancelled |
|
| (3,413,333 | ) |
|
| 1.02 |
|
| Exercised |
|
| (725,000 | ) |
|
| 0.05 |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2009 |
|
| 1,235,031 |
|
|
| 0.59 |
|
| Granted |
|
| — |
|
|
| — |
|
| Expired/Cancelled |
|
| (368,364 | ) |
|
| 0.58 |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
|
|
| Balance, September 30, 2010 |
|
| 866,667 |
|
|
| 0.60 |
|
| Granted |
|
| — |
|
|
| — |
|
| Expired/Cancelled |
|
| (500,000 | ) |
|
| 0.60 |
|
| Exercised |
|
| (366,667 | ) |
|
| 0.58 |
|
|
|
|
|
|
|
|
|
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| Balance, September 30, 2011 |
|
| — |
|
|
| — |
|
| Granted |
|
| — |
|
|
| — |
|
| Expired/Cancelled |
|
| — |
|
|
| — |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
|
|
|
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| Balance, September 30, 2012 |
|
| — |
|
|
| — |
|
| Granted |
|
| — |
|
|
| — |
|
| Expired/Cancelled |
|
| — |
|
|
| — |
|
| Exercised |
|
| — |
|
|
| — |
|
|
|
|
|
|
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| Balance September 30, 2013 |
|
| — |
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| $ | — |
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| Exercisable at September 30, 2012 |
|
| — |
|
| $ | — |
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| Exercisable at September 30, 2013 |
|
| — |
|
| $ | — |
|