Quarterly report pursuant to sections 13 or 15(d)

9. Equity Transactions

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9. Equity Transactions
3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
9. Equity Transactions

On March 28, 2013, the Company entered into subscription agreements with 13 accredited investors, under which the Company issued an aggregate of 11,024,351 shares of common stock and five-year warrants to purchase 5,512,176 shares of the Company’s common stock for aggregate consideration of $0.9 million. The warrants are exercisable at 125% of the volume weighted-average price of the Company’s common stock for the ten trading days prior to closing.