ITEM 8.01 OTHER EVENTS.

On March 8, 2013, the Company issued 868,000 units at a price of $1.80 per unit, each consisting of one share of the Company's common stock and one five-year warrant to purchase 0.50 of a share of the Company's common stock, with exercisability commencing six months and one day after issuance, at an exercise price of $2.73 per share, pursuant to the subscription agreements previously reported in the Company's Form 8-K filed on March 5, 2013. Net of the placement agent's fees and expenses and other offering expenses, the Company obtained net proceeds of approximately $1.3 million, which it plans to use for general corporate purposes, including working capital. This issuance was made pursuant to the Company's existing shelf registration statement (File No. 333-185885), which was declared effective by the Securities and Exchange Commission on January 31, 2013.

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