| Cash Flow, Supplemental Disclosures [Text Block] |
NON-CASH
INVESTING AND FINANCING 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 Notes 7
and 8). 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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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 10).
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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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The
$163,633 fair value of the warrants and the
$163,633 intrinsic value of the beneficial
conversion feature associated with the notes,
issued in the 2011 Unit Offering (see Note 7)
were recorded as additional paid-in capital and a
discount to the convertible notes payable.
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At
December 31, 2012, and 2011, deferred financing
costs in the amount of $24,219 and $66,500,
respectively, were included in accrued
expenses.
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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, 2012, 2011 and 2010 with costs of
$339,802, $550,105 and $173,870,
respectively.
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