Pro Forma Warrant Information (September 30, 2008)
| Shares | Series "A" ($1) |
Series "B" ($3) |
Series "C" ($5) |
Series "D" ($7) |
| 394,434 | 2,850,575 | 8,237,330 | 1,968,560 | 15,315,241 |
| Cash & Investment Receivable | ||||
| $487,260 | $2,850,575 | $24,711,990 | $9,842,800 | $107,206,687 |
| Cumulative Cash & IR | ||||
| $487,260 | $3,337,835 | $28,049,825 | $37,892,625 | $145,099,312 |
| Cumulative Shares | ||||
| 394,434 | 3,245,009 | 11,482,539 | 13,451,099 | 28,766,340 |
| Cash & IR Per Share | ||||
| $1.24 | $1.03 | $2.44 | $2.82 | $5.04 |
| Actual | Pro Forma | Pro Forma | Pro Forma | Pro Forma |
The above table calculates the simple sum of current cash & investment receivable, plus cash from some future exercise of warrants, to portray the pro forma cumulative cash investment per share if all cash raised were invested, at each warrant level. Projected future profits are given zero weight and not included in the above pro forma numbers.