Common Stock and Paid-in Capital in Excess of Par

6 Months Ended

Jun. 30, 2011

Common Stock and Paid-in Capital in Excess of Par

Common Stock and Paid-in Capital in Excess of Par

3. Common Stock and Paid-in Capital in Excess of Par

During the six months ended June 30, 2011, the Company issued shares of common stock as follows:

							Paid-in
	Preferred Stock			Common Stock			Capital in
	Shares	Amount		Shares	Amount		Excess of Par
Balance, January 1, 2011	1	$	—	2,143,631	$	21,436	$	38,568,814
				—	—		—
Sale of common stock, net of offering costs of $229,501 (1)	—	—		— 426,900	— 4,269		— 2,541,080
Balance, June 30, 2011	1	$	—	2,570,531	$	25,705	$	41,109,894

(1) The stock issuance is further discussed in Note 2, “Liquidity and Capital Resources”