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, 2013
Accounting Policies [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
   

Carrying Values

   

Estimated

Fair Value

 

Related party Boston Scientific convertible notes payable

  $ 4,338,601     $ 4,000,842  

Note payable

    3,852,183       3,852,183  

Junior secured notes payable

    232,405       2,095,610  
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

 
                                 

At December 31, 2013:

                               

Derivative liability - warrants

  $ -     $ -     $ 3,747,858     $ 3,747,858  

Derivative liability - conversion option

    -       -       -       -  
                                 

At December 31, 2012:

                               

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,

 
   

2013

   

2012

 
                 

Stock options

    7,430,225       6,432,127  

Warrants

    12,136,865       8,763,836  

Shares under convertible note agreements

    542,325       4,454,362  
      20,109,415       19,650,325