| Cash Flow, Supplemental Disclosures [Text Block] |
NON-CASH
TRANSACTIONS:
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In
February 2012, the terms of related party notes
payable were modified (see Note 6) and accrued
interest of $838,601 was added to the principal
balances of the original notes.
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Upon
the effectiveness of the Company’s Form 10
registration statement in February 2012, the
principal balance of convertible notes payable
totaling $10,811,500 and the related accrued
interest of $974,311 were converted into shares
of the Company’s common stock (see Note
7). In addition, unamortized debt
discounts totaling $405,602 at the conversion
date related to the relative fair value of
warrants issued in connection with the issuance
of the convertible notes (originally accounted
for as equity) were offset against additional
paid-in capital.
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In
February 2012, warrants with a fair value of
$237,299 (recorded as deferred financing costs
and additional paid-in capital) were issued to
the placement agent and its sub-placement agents
in connection with the Company’s sale of
units consisting of secured convertible notes and
common stock warrants (see Note 7).
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In
January and February 2012, both the $383,204
relative fair value of warrants and the $383,204
intrinsic value of the beneficial conversion
feature associated with notes issued by the
Company in an offering of units (see Note 7) were
recorded as additional paid-in capital and a
discount to the convertible notes payable.
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ClearPoint
reusable components were transferred from
inventory to loaned systems, which is a component
of property and equipment, with costs of $137,156
and $229,062 during the six months ended June 30,
2012 and 2011, respectively.
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In
June 2012, the Company issued 1,500,000 shares of
its common stock in exchange for settlement of
accounts payable of $612,500 and the purchase of
software licenses in the amount of $1,050,000
(see Note 9).
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NON-CASH
TRANSACTIONS:
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In
December 2009, related party notes receivable and
accrued interest in the amount of $1,131,399 were
cancelled in exchange for 195,868 shares of
treasury stock.
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At
December 31, 2009, deferred offering costs
in the amount of $313,007 were included in
accrued expenses.
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In
2010, warrants (recorded as deferred financing
costs and additional paid-in capital) were issued
with a fair value of $120,218 to the placement
agent in connection with the sale of the senior
unsecured convertible notes.
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Both
the, $163,633 fair value of warrants and the
$163,633 intrinsic value of the beneficial
conversion feature associated with notes issued
in the 2011 junior secured convertible notes (see
Note 8) were recorded as additional paid-in
capital and a discount to the convertible notes
payable.
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ClearPoint
reusable components were transferred from
inventory to loaned systems, which is a component
of property and equipment, during the years ended
December 31, 2011 and 2010 with costs of
$550,105 and $173,870, respectively,
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At
December 31, 2011, placement agent fees
recorded as deferred costs associated with the
2011 Unit Offering (see Note 8) in the amount of
$66,500 were included in accrued expenses.
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