Quarterly report pursuant to sections 13 or 15(d)

Note 5 - Stockholders' Equity (Tables)

v2.4.0.6
Note 5 - Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2013
   
Transaction
Date
   
March 31,
2013
 
Dividend yield
    0 %     0 %
Expected volatility
    100.00 %     100.00 %
Risk free interest rate
    0.28 %     0.25 %
Expected remaining term (years)
    5       4.83  
Common stock price
  $ 1.58     $ 1.21  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
Fair value on transaction date
  $ 5,267,964  
Decrease in fair value
    1,496,654  
Fair value at March 31, 2013
  $ 3,771,310  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   
Shares
   
Weighted -
Average
Exercise
Price
 
Outstanding at January 1, 2013
    6,432,127     $ 1.58  
Issued
    10,000       1.45  
Outstanding at March 31, 2013
    6,442,127     $ 1.58  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
Dividend yield
    0 %
Expected Volatility
    45.41 %
Risk free Interest rates
    0.99 %
Expected lives (years)
    6.0  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   
Shares
   
Weighted -
Average
Exercise
Price
 
Outstanding at January 1, 2013
    8,763,836     $ 0.95  
Issued
    4,600,842       1.75  
Exercised
    (51,000 )     0.95  
Outstanding at March 31, 2013
    13,313,678       1.23