Preferred shares (Tables)

12 Months Ended

Dec. 31, 2012

Preferred Shares Tables

Preferred Shares conversion into common shares

The remaining Preferred Shares were assigned a nominal value, reflecting the uncertainty that the required revenue objectives would be achieved to allow conversion into common shares, as follows:

	# of Preferred		recorded
	Shares		value
convertible upon issue effective December 31, 2005		2,000,000	$	3,256,400
conditionally convertible on or before December 31, 2015		8,000,000		232,600
		10,000,000		3,489,000