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Note 4 - Liability Attributable to Warrants (Tables)

6 Months Ended

Jun. 30, 2014

Note 4 - Liability Attributable to Warrants (Tables) [Line Items]

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

	Estimated Volatility	Annualized Forfeiture Rate	Expected Term (Years)	Estimated Exercise Factor	Risk-Free Interest Rate	Dividends
2011 Transaction
June 30, 2014	99%	—	2.21	3.5	0.52%	—
December 31, 2013	102%	—	2.67	3.5	0.51%	—
2014 Transaction
June 30, 2014	132%	—	4.59	3.5	1.54%	—
December 31, 2013	—	—	—	—	—	—
ipCapital
June 30, 2014	98%	—	2.32	4.0	0.56%	—
December 31, 2013	108%	—	3.79	4.0	0.53%	—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Warrants liability – December 31, 2013 fair value		$	979,800
Change in fair value of warrant liability recorded in other income			(1,611,200	)
Change in fair value of warrant liability recorded in general and administrative expense			(66,000	)
Aggregate fair value of the warrants liability associated with the 2014 transaction warrants at issuance			1,356,000
Warrants liability – June 30, 2014 fair value		$	658,600

Warrant [Member]

Note 4 - Liability Attributable to Warrants (Tables) [Line Items]

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

	For the Three-Month Period Ended June 30, 2014
	Beginning Outstanding	Issued	Exercised	Cancelled / Forfeited	Ending Outstanding
2011 Transaction	10,302,500	—	—	—	10,302,500
2014 Transaction	5,650,001	—	—	—	5,650,001
ipCapital	400,000	—	—	—	400,000
Exercise Agreement	4,500,000	—	—	—	4,500,000
Consultant Warrant (1)	312,500	—	—	(143,227)	169,273
Offer to Exercise	152,500	—	—	—	152,500
	21,317,501	—	—	(143,227)	21,174,274

	For the Three-Month Period Ended June 30, 2013
	Beginning Outstanding	Issued	Exercised	Cancelled / Forfeited	Ending Outstanding
2011 Transaction	22,612,500	—	(9,455,000)	—	13,157,500
ipCapital	400,000	—	—	—	400,000
Exercise Agreement	—	4,500,000	—	—	4,500,000
	23,012,500	4,500,000	(9,455,000)	—	18,057,500

	For the Six-Month Period Ended June 30, 2014
	Beginning Outstanding	Issued	Exercised	Cancelled / Forfeited	Ending Outstanding
2011 Transaction	11,302,500	—	(1,000,000)	—	10,302,500
2014 Transaction	—	5,650,001	—	—	5,650,001
ipCapital	400,000	—	—	—	400,000
Exercise Agreement	4,500,000	—	—	—	4,500,000
Consultant Warrant (1)	312,500	—	—	(143,227)	169,273
Offer to Exercise	152,500	—	—	—	152,500
	16,667,500	5,650,001	(1,000,000)	(143,227)	21,174,274

	For the Six-Month Period Ended June 30, 2013
	Beginning Outstanding	Issued	Exercised	Cancelled / Forfeited	Ending Outstanding
2011 Transaction	23,075,000	—	(9,917,500)	—	13,157,500
ipCapital	400,000	—	—	—	400,000
Exercise Agreement	—	4,500,000	—	—	4,500,000
	23,475,000	4,500,000	(9,917,500)	—	18,057,500

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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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.

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