STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2012

Stockholders Equity Note [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes stock option activity for the six months ended June 30, 2012:

	Number of shares			Weighted- average exercise price		Weighted- average Contractual Term		Aggregate Intrinsic Value
						(in years)
Outstanding at December 31, 2011		3,379		$	1,315.62		6.39
Granted		—			—
Exercised		—			—
Forfeited		(2,475	)		720.45
Expired		—			—
Outstanding at June 30, 2012		904		$	2,945.09		2.24	$	—
Vested and expected to vest at June 30, 2012		904		$	2,945.09		2.24	$	—
Exercisable at June 30, 2012		898		$	2,963.46		2.19	$	—

As of June 30, 2012, the total compensation cost related to unvested option awards not yet recognized is less than $1,000. The weighted average period over which it is expected to be recognized is approximately 9 months.

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

Restricted Stock - Preferred

Certain employees have been awarded restricted Company Preferred Stock. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares Restricted Series A Preferred Stock(1)			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		129,375		$	20.00
Granted		—			—
Vested		—			—
Forfeited
Conversion to restricted common stock		(129,375	)		20.00
Outstanding at June 30, 2012		—		$	—	$	—

⁽¹⁾ The restricted Company Preferred Stock listed in the table above was granted in connection with the Exchange Transaction to certain executives as discussed above. Each share of Company Preferred Stock was convertible into 8.89 shares of the Company’s Common Stock. In conjunction with the reverse split effected on April 30, 2012 (as discussed in Note 1), all outstanding restricted Preferred Stock automatically converted to 1,150,000 shares of Common Stock as of that date.

Restricted Stock - Common

Certain employees, directors and consultants have been awarded restricted stock under the 2012 Incentive Plan. The restricted stock vesting consists of milestone and time-based vesting. The following table summarizes restricted share activity for the six months ended June 30, 2012:

	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at December 31, 2011		—	$	—
Converted preferred stock		1,150,000		2.25
Granted		3,135,000		6.20
Vested		—		—
Forfeited		—		—
Outstanding at June 30, 2012		4,285,000	$	5.14	$	26,781,250

Total expense associated with restricted stock (both common and preferred) was $1,171,991 and $1,360,500 during the three and six months ended June 30, 2012, respectively. 

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Warrants

The following table summarizes warrant activity for the six months ended June 30, 2012:

	Warrants			Weighted- average exercise price		Aggregate Intrinsic Value
Outstanding at December 31, 2011		2,118,768		$	4.62
Issued		2,163,555			2.31
Exercised		—			—
Expired		(1,449	)		2,812.50
Outstanding at June 30, 2012		4,280,874		$	2.50	$	16,860,808

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes stock-based compensation expense information about stock options and restricted stock for the three and six months ended June 30, 2012:

	Three months ended June 30, 2012		Six months ended June 30, 2012
Stock-based compensation expense associated with restricted stock	$	1,171,991	$	1,360,500
Stock-based compensation expense associated with option grants		—		—
	$	1,171,991	$	1,360,500