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