Capital Structure

As of June 30, 2011, the Company's issued and outstanding securities were as follows:

Common: 99,945,747
Convertible Preferred*: 20,881,493
Warrants: 26,114,610
Broker Warrants: 4,960,044
Options: 6,614,133
Fully Diluted: 158,516,027
Cash (CAD $): 13,400,000

*Convertible Preferred shares are each convertible into one share of common stock so long as the public float stays above 20%.