XML 42 R19.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2012

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

The following table summarizes stock option activity for the nine months ended September 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		46,000			4.40
Exercised		—			—
Forfeited		(2,475	)		720.45
Expired		—			—
Outstanding at September 30, 2012		46,904		$	61.08		9.69	$	—

Vested and expected to vest at September 30, 2012		904		$	2,945.09		1.99	$	—
Exercisable at September 30, 2012		898		$	2,963.46		1.95	$	—

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

The following table summarizes restricted preferred share activity for the nine months ended September 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 September 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 restricted Common Stock as of that date.

The following table summarizes restricted share activity for the nine months ended September 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		5,140,000		4.95
Vested		—		—
Forfeited		—		—
Outstanding at September 30, 2012		6,290,000	$	4.46	$	14,152,500

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

The following table summarizes warrant activity for the nine months ended September 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		(1,503	)		2,739.75
Outstanding at September 30, 2012		4,280,820		$	2.49	$	—

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 nine months ended September 30, 2012:

	Three months ended September 30, 2012		Nine months ended September 30, 2012
Stock-based compensation expense associated with restricted stock	$	818,090	$	2,178,590
Stock-based compensation expense associated with option grants		—		—
	$	818,090	$	2,178,590

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References+ Details