Quarterly report pursuant to sections 13 or 15(d)

Note 7 - Convertible Notes Payable (Tables)

v2.4.0.6
Note 7 - Convertible Notes Payable (Tables)
9 Months Ended
Sep. 30, 2012
Schedule of Debt [Table Text Block]
   
Current
   
Long-term
 
   
September 30,
2012
   
December 31,
2011
   
September 30,
2012
   
December 31,
2011
 
                         
March 2010 Notes - principal
  $ -     $ 4,071,000     $ -     $ -  
2011 Unit Offering Notes - principal
    -       -       -       1,625,000  
April 2011 Note - principal
    -       -       2,000,000       2,000,000  
Total convertible notes payable - principal
    -       4,071,000       2,000,000       3,625,000  
March 2010 Notes - unamortized discount
    -       (117,405 )     -       -  
2011 Unit Offering Notes - unamortized discount
    -       -       -       (316,610 )
April 2011 Note - unamortized discount
    -       -       -       -  
Total convertible notes payable - unamortized discount
    -       (117,405 )     -       (316,610 )
March 2010 Notes - net
    -       3,953,595       -       -  
2011 Unit Offering Notes - net
    -       -       -       1,308,390  
April 2011 Note - net
    -       -       2,000,000       2,000,000  
Total convertible notes payable - net
  $ -     $ 3,953,595     $ 2,000,000     $ 3,308,390