Quarterly report pursuant to sections 13 or 15(d)

Note 8 - Stockholders' Equity (Tables)

v2.4.0.6
Note 8 - Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2012
Impact of Conversions to Common Stock [Table Text Block]
   
Impact to Balance Sheet
   
Increase in
 
   
Before
Conversions
   
Impact of
Conversions
   
After
Conversions
   
Common Shares
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
    2,797,400       1.02  
Exercised, including 16,000 shares withheld on net settled exercises
    (30,000 )     1.80  
Forfeited
    (315,250 )     2.16  
Outstanding, September 30, 2012
   
6,132,127
      1.58  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Dividend yield
  0%
 
Expected Volatility   45.2%  
Risk free Interest rates  0.83% - 1.13% 
Expected lives (years)
  6.0  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
 
Three Months Ended September 30,
   
Nine Months Ended September 30,
 
 
2012
 
2011
   
2012
   
2011
 
        299,083
  $ 248,540     $ 842,645     $ 757,200  
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  
Issued
    7,607,071       1.05  
Exercised, including 158,078 shares withheld on net settled exercises
    (584,768 )     0.69  
Outstanding, September 30, 2012
    8,945,247       0.94  
Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]
Dividend yield
    0%    
Expected Volatility   41.3% - 49.0%   
Risk free Interest rates   0.19% - 0.93%   
Expected lives (years)
   1.7 -
5.0