Annual report pursuant to section 13 and 15(d)

Note 2 - Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Note 2 - Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

 

 

Carrying Values

 

 

Estimated

Fair Value

 

Related party BSC convertible notes payable

 

$

4,338,601

 

 

$

3,636,380

 

Convertible note payable

 

 

2,000,000

 

 

 

2,000,000

 

Junior secured notes payable

 

 

195,549

 

 

 

1,920,844

 

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

 

 

Quoted Prices in

Active Markets

(Level 1) 

 

 

Significant

Observable

Inputs (Level 2) 

 

 

Significant

Unobservable

Inputs (Level 3) 

 

 

Total Fair

Value 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability - warrants

 

$

-

 

 

$

-

 

 

$

2,128,302

 

 

$

2,128,302

Derivative liability - conversion option

 

 

-

 

 

 

789

 

 

 

-

 

 

 

789

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

 

 

As of December 31,

 

 

 

2012

 

 

2011

 

 

2010

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

6,432,127

 

 

 

3,679,977

 

 

 

3,762,477

 

Warrants

 

 

8,763,836

 

 

 

1,922,944

 

 

 

435,986

 

Shares under convertible note agreements

 

 

4,454,362

 

 

 

1,046,263

 

 

 

997,678

 

 

 

 

19,650,325

 

 

 

6,649,184

 

 

 

5,196,141