Common Shares Issuable upon Exercise | Weighted Average Exercise Price | Weighted Average Remaining Contractual Life (in years) | ||||||
Outstanding at December 31, 2012 | 3,205,492 | $ | 4.56 | 3.8 | ||||
Issued | 3,000,000 | 3.40 | ||||||
Exercised | (20,000 | ) | 2.27 | |||||
Cancelled | — | — | ||||||
Outstanding at December 31, 2013 | 6,185,492 | 4.01 | 3.6 | |||||
Exercisable at December 31, 2013 | 6,185,492 | $ | 4.01 | 3.6 | ||||