Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 11—Subsequent Events

On August 9, 2013, the Company’s shareholders’ approved, among other things, (i) an amendment to the Company’s Certificate of Incorporation to increase the number of authorized shares of common stock from 150,000,000 to 300,000,000 shares; (ii) an amendment to the Company’s Certificate of Incorporation to effect a reverse stock split by combining outstanding shares of the Company’s common stock into a lesser number of outstanding shares by a ratio of not less than 1-for-5 and not more than 1-for-20 at any time prior to the earlier of August 1, 2014 and the 2014 annual meeting of stockholders, the exact ratio to be set within this range by the Company’s board of directors in its sole discretion; and (iii) the 2013 Employee, Director and Consultant Equity Incentive Plan.

Following the shareholder approval of the increase in authorized shares on August 9, 2013 the Company filed a certificate of amendment with the Delaware Secretary of State, which provided for adequate authorized shares for all potential common stock equivalents issued as of June 30, 2013. As a result, the warrant liability reflected as a non-current liability in the accompanying balance sheet will be reclassified to shareholders’ equity at its fair value as of August 9, 2013. As the fair value of the warrant liability increased from June 30, 2013 to August 9, 2013, the Company will record an increase in interest expense of $11,000 equal to this increase in its statement of operations for the three months ended September 30, 2013.