The assumptions used in connection with the valuation of warrants issued were as follows:
|
|
| March 31, 2013 |
| March 31, 2012 |
| Expiration Of Down-round August 29, 2012 |
| Initial Measurement September 7, 2012 September 20, 2012 November 14, 2012 December 14, 2012 December 28, 2012 February 28, 2013 |
| ||
| Number of shares underlying the warrants |
| 47,726,100 |
|
| 32,880,252 |
|
| 9,954,939 |
| 24,800,787 |
|
| Exercise price |
| $0.595-$0.80 |
|
| $0.64-$1.00 |
|
| $0.77 |
| $0.70-$0.80 |
|
| Volatility |
| 133 | % |
| 211 | % |
| 188% |
| 175%-180% |
|
| Risk-free interest rate |
| 0.36 | % |
| 1.04 | % |
| 0.23% |
| 0.33%-0.36% |
|
| Expected dividend yield |
| 0.00 | % |
| 0.00 | % |
| 0.00% |
| 0.00% |
|
| Expected warrant life (years) |
| 2.50 - 4.75 |
|
| 2.24 - 4.33 |
|
| 2.00 |
| 3 - 5 |
|
| Stock price |
| $0.35 |
|
| $0.82 |
|
|
|
|
|
|