Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

11. Subsequent Events

In the second quarter of 2013, the Company received an additional $2.26 million from the closeout of its private placement. Over an approximate twelve month period ending March 31, 2013 the Company sold $4 million in shares of its common stock to accredited investors in a private placement.

Certain accredited investors contemplated participating in such prior offering; however, such investors were unable to participate due to certain technical issues. In an effort to permit such investors the opportunity to complete their investment, in April of 2013 the Company executed agreements to sell an additional $550,000 of shares of its common stock in a private placement to these investors, of which the balance of $102,000 is expected to be received by May 31, 2013.