NOTE 6 – COMMON STOCK WARRANTS

Below is a table summarizing the common stock warrants issued and outstanding as of March 31, 2015:

The outstanding warrants as of March 31, 2015 have an intrinsic value of $177,275.

During the six month period ended March 31, 2015, 36,548 warrants to purchase common stock at exercise prices ranging from $1.50 to $2.85 were exercised and 36,548 shares of common stock were issued for proceeds of $80,005. In addition, 399,818 warrants to purchase common stock, with exercise prices ranging from $1.95 to $3.60, were exercised via cashless exercise. Accordingly, the Company issued 290,891 shares of common stock for such exercises. A total of 32,834 warrants were forfeited during the six month period ended March 31, 2015.