Axogen, Inc. General form of registration statement for all companies including face-amount certificate companies

Preferred Stock Warrants and Warrant Liability (Tables)

12 Months Ended

Dec. 31, 2012

Information relating to these warrants at December 31, 2010 is summarized as follows:


Warrants	Remaining Number Outstanding		Exercise Price
Series C Warrants-2008 Loan and Security Agreement		280,803	$	0.7345
Series D Warrants-2009 Convertible Debt		4,368,948	$	0.1198
Series D Warrants-Series D Preferred Stock Issuance		8,347,236	$	0.1198
*Series D Warrants-1^st Amendment		6,243,362	$	0.1198
*Series D Warrants-2^nd Amendment		8,694,558	$	0.1198
*Series D Warrants-3^rd Amendment		4,462,227	$	0.1198
*Series D Warrants-5^th Amendment		2,260,440	$	0.1198
*Series D Warrants-6^th Amendment		6,900,685	$	0.1198

Total		41,558,259

*	Warrants issued to lenders in conjunction with amendments to 2008 Loan and Security Agreement (see Note 7).

The following assumptions were incorporated into the valuations for 2011 and 2010:


		2011
Exercise price		$0.1198 – $0.7345
Market value of stock at end of period		$0.01
Expected dividend rate		0.00%
Expected volatility		33.47% – 62.86%
Risk-free interest rate		0.03% – 3.18%
Expected life in years		3.40 – 9.90
Shares underlying warrants outstanding classified as liabilities		41,558,259