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Net Loss Per Common Share (Tables)
6 Months Ended
Jun. 30, 2013
Net Loss Per Common Share [Abstract]  
Reconciliation of Numerator and Denominator used in Basic and Diluted Computation of New Loss Per Share

The following is a reconciliation of the numerator and denominator used in the basic and diluted computation of net loss per share:

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2013     2012     2013     2012  
Numerator:                                
Net loss   $ (5,524,324 )   $ (8,980,346 )   $ (11,287,356 )   $ (16,312,944 )
Preferred stock dividends     (1,029,735 )     (1,102,398 )     (2,064,042 )     (2,208,275 )
Loss available to common shareholders   $ (6,554,059 )   $ (10,082,744 )   $ (13,351,398 )   $ (18,521,219 )
                                 
Denominator:                                
Basic weighted average shares outstanding     57,443,706       39,503,340       54,571,012       37,136,759  
Effect of dilutive securities     -       -       -       -  
Diluted weighted average shares outstanding     57,443,706       39,503,340       54,571,012       37,136,759  
                                 
Net loss per common share:                                
Basic   $ (0.11 )   $ (0.26 )   $ (0.24 )   $ (0.50 )
Diluted   $ (0.11 )   $ (0.26 )   $ (0.24 )   $ (0.50 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table includes the number of common stock equivalent shares that are not included in the computation of diluted loss per share, because the Company has a net loss and the inclusion of such shares would be antidilutive or certain performance conditions have not been achieved.

 

    June 30,  
    2013     2012  
Stock options     50,000       450,000  
Convertible preferred stock     57,992,307       62,989,429  
Warrants     833,500       2,333,500  
Restricted stock     4,237,000       5,459,000  
      63,112,807       71,231,929