| Schedule of Other Significant Noncash Transactions [Table Text Block] |
NON-CASH
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 Note
7). 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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ClearPoint
reusable components were transferred from inventory
to loaned systems, which is a component of property
and equipment, with costs of $137,156 and $229,062
during the six months ended June 30, 2012 and 2011,
respectively.
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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
9).
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