General form of registration statement for all companies including face-amount certificate companies

Stockholders' Equity (Tables)

v2.3.0.11
Stockholders' Equity (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Impact of Conversions to Common Stock [Table Text Block]
   
Impact to Balance Sheet
   
Increase in
 
   
Before
   
Impact of
   
After
   
Common Shares
 
   
Conversions
   
Conversions
   
Conversions
   
Outstanding
 
                         
Impact on assets
                       
Deferred costs
  $ 799,123     $ (799,123 )   $ -       -  
                                 
Impact on liabilities and equity
                               
Accrued interest on converted notes
  $ 974,311     $ (974,311 )   $ -       1,092,559  
Summer 2011 Notes, net
    904,397       (904,397 )     -       2,183,334  
March 2010 Notes, net
    4,057,500       (4,057,500 )     -       4,071,000  
2011 Unit Offering Notes, net
    4,367,482       (4,367,482 )     -       9,050,834  
Total impact on liabilities
    10,303,690       (10,303,690 )     -       16,397,727  
Series A convertible preferred stock
    7,965,000       (7,965,000 )     -       7,965,000  
Additional paid-in capital and common stock
    -       19,345,209       19,345,209       -  
Accumulated deficit
    -       (1,875,642 )     (1,875,642 )     -  
Total impact on equity
    7,965,000       9,504,567       17,469,567       7,965,000  
Total impact on liabilities and equity
  $ 18,268,690     $ (799,123 )   $ 17,469,567       24,362,727  
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   
Shares
   
Weighted - Average Exercise Price
 
Outstanding, January 1, 2012
    3,679,977     $ 2.05  
Granted
    2,746,400       1.00  
Forfeited
    (315,250 )     2.16  
Outstanding, June 30, 2012
    6,111,127       1.57  
 
 
Options
Outstanding
   
Options
Exercisable
 
Range of
Exercise Prices
 
Weighted-
average
Exercise
price per
share
 
 
Intrinsic
Value (1)
 
Balance at January 1, 2009
 
 
599,875
 
        $ 0.88 - $
24.00
 
$
3.62
 
 
$
3,742,700
 
Options exercisable at January 1, 2009
 
         
432,083
 
  0.88 -  
24.00
 
 
2.70
 
 
 
3,133,667
 
Options granted (2)
 
 
93,402
 
           
9.64
   
 
 
9.64
 
 
     
Options exercised
 
 
(3,333
)
           
3.20
   
 
 
3.20
 
 
     
Options cancelled or forfeited
 
 
(20,167
)
          1.64 -  
20.00
 
 
9.60
 
 
     
Balance at December 31, 2009
 
 
669,777
 
          0.88 -  
24.00
 
 
4.28
 
 
 
3,694,400
 
Options exercisable at December 31, 2009
 
         
483,364
 
  0.88 -  
24.00
 
 
2.78
 
 
 
3,424,333
 
Options granted (2)
 
 
3,246,450
 
           
1.80
   
 
 
1.80
 
 
     
Options cancelled or forfeited
 
 
(153,750
)
          3.20 -  
24.00
 
     
 
     
Outstanding at December 31, 2010
 
 
3,762,477
 
          0.88 -  
24.00
 
 
2.11
 
 
 
262,500
 
Options exercisable at December 31, 2010
 
         
433,746
 
  0.88 -  
24.00
 
 
3.03
 
 
 
262,500
 
Options cancelled or forfeited
 
 
(82,500
)
          1.80 -  
24.00
 
 
4.93
 
 
     
Outstanding at December 31, 2011
 
 
3,679,977
 
          0.88 -  
9.64
 
 
2.05
 
 
 
 
Options exercisable at December 31, 2011
 
         
1,501,659
 
  0.88 -  
9.64
 
 
2.15
 
 
 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Dividend yield
 
0%
 
Expected Volatility
  45.2%  
Risk free Interest rates
0.93% - 1.13%
Expected lives (years)
  6.0  
   
Year Ended December 31,
 
   
2010
   
2009
 
Dividend yield
  0%       0%    
Expected Volatility
  44.81%     23.45% to
38.28%
 
Risk free Interest rates
  2.36%     1.48% to
2.43%
 
Expected lives (years)
 
6.0
    3.25 to
5.75
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
Three Months Ended June 30,
   
Six Months Ended June 30,
 
2012
   
2011
   
2012
   
2011
 
$ 313,707     $ 253,917     $ 543,562     $ 508,660  
 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   
Shares
   
Weighted - Average Exercise Price
 
Outstanding, January 1, 2012
    1,922,944     $ 0.43  
Warrants issued
    4,335,704       0.80  
Outstanding, June 30, 2012
    6,258,648       0.69  
 
  
     
Weighted -
 
 
  
     
Average
 
 
  
     
Exercise
 
 
  
Shares
   
Price
 
Warrants outstanding at January 1, 2009
  
 
828,502
  
 
$
1.74
  
     
Warrants that expired during 2009
  
 
(417,960 
   
0.04
  
 
  
             
Warrants outstanding at December 31, 2009
  
 
410,542
  
   
0.42
  
     
Warrants issued during 2010
  
 
25,444
  
   
8.00
  
 
  
             
Warrants outstanding at December 31, 2010
  
 
435,986
  
   
3.74
  
     
Warrants that expired during 2011
  
 
(410,542 
   
3.48
  
     
Warrants issued during 2011
  
 
2,122,500
  
   
0.29
  
     
Warrants exercised during 2011
  
 
(225,000 
   
0.01
  
 
  
             
Warrants outstanding at December 31, 2011
  
 
1,922,944
  
   
0.43
  
Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]
Dividend yield
 
0%
 
Expected Volatility
42.1% - 49.0%
Risk free Interest rates
0.30% - 0.93%
Expected lives (years)
1.9 -
5.0
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]  
   
 
Options Outstanding
 
 
Options Exercisable
 
Range of
Exercise Prices
 
 
Number
Outstanding
 
 
Weighted -
Average
Remaining
Contractual
Life
 
 
Weighted -
Average
Exercise
Price
 
 
Number
Exercisable
 
 
Weighted -
Average
Exercise
Price
 
$ 0.88 - 0.96  
 
 
287,500
 
 
 
2.33
 
 
$
0.89
 
 
 
287,500
 
 
$
0.89
 
    1.80    
 
 
3,195,950
 
 
 
8.96
 
 
 
1.80
 
 
 
1,065,318
 
 
 
1.80
 
  3.20 - 9.64  
 
 
196,527
 
 
 
4.75
 
 
 
7.74
 
 
 
148,841
 
 
 
7.13
 
     
 
 
3,679,977
 
 
 
8.21
 
 
 
2.05
 
 
 
1,501,659
 
 
 
2.15
 
Schedule of Nonvested Share Activity [Table Text Block]  
 
Nonvested Stock Options
  
Shares
   
Weighted -
Average
Grant Date
Fair Value
 
Nonvested January 1, 2009
  
 
167,792
  
 
$
1.67
  
Granted
  
 
93,402
  
   
2.83
  
Forfeited/cancelled
  
 
(7,250
   
2.84
  
Vested
  
 
(67,531
   
1.11
  
Nonvested December 31, 2009
  
 
186,413
  
   
2.41
  
     
Granted
  
 
3,246,450
  
   
0.83
  
Forfeited
  
 
(41,667
   
1.92
  
Vested
  
 
(62,465
   
2.31
  
Nonvested December 31, 2010
  
 
3,328,731
  
   
0.88
  
     
Forfeited
  
 
(51,833
   
0.88
  
Vested
  
 
(1,098,580 
   
0.89
  
Nonvested December 31, 2011
  
 
2,178,318
  
   
0.87
  
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block]  
   
Year Ended December 31,
 
   
2011
   
2010
 
Dividend yield
     0%       0%  
Expected Volatility
  48.67% to
49.36%
    44.81%  
Risk free Interest rates
  0.81% to
1.13%
    2.36%  
Expected lives (years)
    5.0
 
   
5.0