Pro Forma Warrant Information (December 31, 2008)

Shares Series "A"
($1)
Series "B"
($3)
Series "C"
($5)
Series "D"
($7)
546,117 2,732,909 8,202,130 1,968,560 15,315,241
Δ  Cash & Investment Receivable
$655,023 $2,732,909 $24,606,390 $9,842,800 $107,206,687
Δ  Cumulative Cash & IR
$655,023 $3,387,932 $27,994,322 $37,837,122 $145,043,809
Δ  Cumulative Shares
546,117 3,279,026 11,481,156 13,449,716 28,764,957
Δ  Cash & IR Per Share
$1.20 $1.03 $2.44 $2.81 $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.