Granted - As of April 30, 2010, we had warrants outstanding to purchase up to 338,410 shares of our common stock at an exercise price of $1.48 per share and an expiration date of December 19, 2013. These warrants were issued during fiscal year 2009 in connection with the loan and security agreement we entered into on December 9, 2008, as further discussed in Note 4. There were no warrants granted during fiscal years 2010 and 2008.
Exercised - During fiscal year 2008, warrants to purchase 10,684 shares of our common stock were exercised for net proceeds of $46,000. There were no warrants exercised during fiscal years 2010 and 2009.
Subsequent to April 30, 2010, 118,443 warrants were exercised on a cashless basis in exchange for 74,802 shares of our common stock.
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