10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q/A

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

OR

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________________ to ___________________________

Commission file number:000-52062

Q HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	20-3708500
(State or Other Jurisdiction of Incorporation or	(I.R.S. Employer Identification Number)
Organization)
615 Arapeen Drive, Suite 102
Salt Lake City, UT	84108
(Address of Principal Executive Offices)	(Zip Code)

(801) 582-5400

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name, Former Address and Former Fiscal Year, If Changed Since Last Report)

Copies to:

Virginia K. Sourlis, Esq.

The Sourlis Law Firm

The Courts of Red Bank

130 Maple Avenue, Suite 9B2

Red Bank, New Jersey 07701

T: (732) 530-9007

F: (732) 530-9008

Virginia@SourlisLaw.com

www.SourlisLaw.com

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ] 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	[ ]	Accelerated filer	[ ]
Non-accelerated filer	[ ] (Do not check if a smaller reporting company)	Smaller reporting company	[X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

As of August 9, 2012, there were 24,681,749 shares of Common Stock, $0.0001 par value per share, issued and outstanding.

EXPLANATORY NOTE 

The sole purpose of this Amendment No. 1 to the Quarterly Report on Form 10-Q (the “Form 10-Q”) of Q Holdings, Inc. for the period ended June 30, 2012, filed with the Securities and Exchange Commission on August 10, 2012, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to the Form 10-Q provides the financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Exhibits Index

Exhibit No:	Description:
4.1	Form of Series A Warrant (Corrected)
4.2	Form of Series B Warrant
31.1	Certification of the Company’s Principal Executive Officer pursuant to 15d-15(e), under the Securities and Exchange Act of 1934, as amended
31.2	Certification of the Company’s Principal Financial and Principal Accounting Officer pursuant to 15d-15(e), under the Securities and Exchange Act of 1934, as amended
32.1	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Principal Executive Officer).
32.2	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Principal Financial and Principal Accounting Officer).
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase
101.DEF*	XBRL Taxonomy Extension Definition Linkbase
101.LAB*	XBRL Taxonomy Extension Label Linkbase
101.PRE*	XBRL Taxonomy Presentation Linkbase

* Filed herewith.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: September 10, 2012	By:	/s/ DEBORAH A. EPPSTEIN
	Name:	Deborah A. Eppstein, PhD
	Title:	Chief Executive Officer, President
		(Principal Executive Officer)

Date: September 10, 2012	By:	/s/ STEVEN J. BORST
	Name:	Steven J. Borst
	Title:	Vice President, Chief Financial Officer
		(Principal Financial Officer
		and Principal Accounting Officer)

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Private Placement Memorandum

6 Months Ended

Jun. 30, 2012

Stockholders' Equity Note [Abstract]

Private Placement Memorandum

2. Private Placement Memorandum

Between October 13, 2011 and June 30, 2012, the Company was conducting a private placement of its securities solely to accredited investors. The offering is being conducted on a best efforts basis, whereby the Company is offering for sale a minimum of 3,000,000 and a maximum of 6,000,000 Units, each Unit consisting of one share of common stock, one 7-year common stock purchase warrant exercisable at $1.00 per share, and one 7-year common stock purchase warrant exercisable at $2.00 per share. Units sold totaled 4,018,047 through June 30, 2012. The Company has raised an aggregate of $3,820,318 after paying issuance costs of $197,729.

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Organization and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Organization And Summary Of Significant Accounting Policies

Organization and Summary of Significant Accounting Policies

1. Organization and Summary of Significant Accounting Policies

Organization

Q Holdings, Inc. (“the Company”) (formerly known as Grace 2, Inc.) was incorporated on October 27, 2005 as a Delaware corporation.

On October 13, 2011, Grace 2, Inc. entered into an Agreement and Plan of Merger (“Agreement”) with Q Acquisition, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Q Therapeutics, Inc. Q Therapeutics, Inc. was incorporated on March 28, 2002 as a Delaware corporation. Pursuant to the Agreement, Merger Sub merged with and into Q Therapeutics, Inc. with Q Therapeutics, Inc. being the surviving corporation. Upon the consummation of the merger, the Company acquired 100% of Q Therapeutics, Inc. by issuing 2.1633835 shares of common stock for each outstanding equity instrument of Q Therapeutics, Inc. After the effective date of the transaction, the former Q Therapeutics, Inc. stockholders owned 89.7% of the issued and outstanding common shares of Grace 2, Inc. Also, at the time of the transaction Grace 2, Inc. was renamed Q Holdings, Inc. The transaction was accounted for as a reverse acquisition with Q Therapeutics, Inc. as the accounting acquirer. The condensed consolidated financial statements include the activity of Q Therapeutics, Inc. from inception (March 28, 2002) through June 30, 2012, and the activity of Q Holdings, Inc. and Q Therapeutics, Inc. from the date of acquisition (October 13, 2011) forward.

The Company is a development stage company in the process of developing products to treat debilitating and fatal diseases of the central nervous system.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Q Holdings, Inc. and its wholly owned subsidiary, Q Therapeutics, Inc. and Q Therapeutics, Inc.’s majority owned subsidiary, NeuroQ Research, Inc. (collectively, “the Company”). All significant intercompany amounts have been eliminated. There has been no activity in NeuroQ Research, Inc. since NeuroQ Research, Inc. was formed; therefore, no non-controlling interest is presented. The unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial information set forth therein. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the following disclosures, when read in conjunction with the annual financial statements and the notes thereto, are adequate to make the information presented not misleading. Operating results for the three and six months ended June 30, 2012, are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

Development Stage and Liquidity

For the period from March 28, 2002 (date of inception) through June 30, 2012, the Company has not generated significant revenues and has been developing its products. Therefore, the Company is considered to be in the development stage in accordance with the provisions of Accounting Standards Codification (“ASC”) Topic 915, Development Stage Entities. Cumulative amounts have been presented for the period from March 28, 2002 (date of inception) through June 30, 2012. Historically, the Company has been dependent on government grants and debt and equity raised from individual investors to sustain its operations. The Company’s products have not been approved by the FDA for commercial sale; therefore, the Company has not generated revenues from commercial product sales. The Company has incurred losses and used cash in operating activities since inception. As of June 30, 2012, the Company had an accumulated deficit of $18,640,061. From October 13, 2011 through June 30, 2012, the Company raised $4,018,047 in a private placement of the Company’s common stock. Although there can be no assurance, management believes that the Company has sufficient resources to fund the Company’s operations through at least June 30, 2013. 

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Key estimates include useful lives for property and equipment, valuation allowances for net deferred income tax assets, and values of stock-based compensation awards.

Stock-Based Compensation

The Company calculates the estimated fair value of its stock options and warrants on the grant date using the Black-Scholes option-pricing model and recognizes the estimated fair value as compensation expense on a straight-line basis over the vesting period. The volatility assumption used in the Black-Scholes option-pricing model is based on the volatility of publicly traded companies in the same industry as the Company. The expected terms of the options and warrants granted represent the period of time that the options granted are expected to be outstanding. The risk free rate for periods within the contractual lives of the option and warrant is based on the U.S. treasury securities constant maturity rate that corresponds to the expected terms in effect at the time of grant. 

Net Loss Per Common Share

Basic net income or loss per common share (“Basic EPS”) is computed by dividing net income or loss by the weighted average number of common shares outstanding. Diluted net income or loss per common share (“Diluted EPS”) is computed by dividing net income or loss by the sum of the weighted average number of common shares outstanding and the dilutive potential common share equivalents then outstanding. Potential dilutive common share equivalents consist of shares issuable upon the exercise of outstanding stock options and warrants to acquire common stock. 

Due to the fact that for all periods presented, the Company has incurred net losses, potential dilutive common share equivalents of 15,830,505 and 8,311,561 for the six months ended June 30, 2012 and 2011, respectively, are not included in the calculation of Diluted EPS because they are anti-dilutive. Therefore, basic loss per common share is the same as diluted loss per common share for the six months ended June 30, 2012 and 2011.

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Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash	$ 1,894,848	$ 2,741,519
Other receivable, net of an allowance for doubtful accounts of $0 and $2,282, as of June 30, 2012 and December 31,2011, respectively	28,215	53,796
Prepaid expenses and other	740
Total current assets	1,923,803	2,795,315
Property and equipment, net	24,575	31,923
Other assets	7,513	7,513
Total assets	1,955,891	2,834,751
Current liabilities:
Accounts payable	49,377	77,181
Accrued liabilities	207,489	201,613
Notes payable		15,000
Total current liabilities	256,866	293,794
Notes payable	108,224
Total liabilities	365,090	293,794
Commitments and contingencies
Stockholders' equity:
Common stock; $0.0001 par value: 100,000,000 shares authorized; 24,682,632 and 24,582,632 shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively	2,470	2,458
Additional paid-in capital	20,228,392	19,972,937
Deficit accumulated during the development stage	(18,640,061)	(17,434,438)
Total stockholders' equity	1,590,801	2,540,957
Total liabilities and stockholders' equity	$ 1,955,891	$ 2,834,751

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Statement Of Stockholder’s Equity (Deficit) (Parenthetical) (USD $)	Jun. 30, 2012
Statement of Stockholders' Equity [Abstract]
Common stock issued for cash, price per share	$ 1.00
Common stock issued for asset purchase, price per share	$ 1.00

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Commitments and Contingencies (Details Narrative) (USD $)	0 Months Ended			1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 27, 2012 Percentage	May 31, 2012	Mar. 27, 2012 Percentage	Apr. 30, 2012	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 Percentage	Jun. 30, 2011	May 27, 2012
Commitments and Contingencies Disclosure [Abstract]
Percentage of licensing revenue required to pay							10.00%
Percentage of royalty payable on net sales							2.00%
Percentage of royalty on net sales on any services							5.00%
Percentage of royalty on net sales in excess							2.50%
Percentage of royalty payments to third parties for product development							10.00%
Issuance of common stock and warrants				10,000
Total contract price					$ 237,400		$ 237,400
Percentage of invoice amount payable in cash			25.00%
Percentage of interest recorded annually			8.00%
Amount invoiced									142,400
Amount of principal outstanding					106,800		106,800
Payment of invoice amount		35,600
Contract balance amount outstanding					108,000		108,000
Accrued interest					1,424		1,424
Placement agent fees	5,000
Percentage of cash placement agent fee	8.00%
Percentage of warrant receivable by agent	10.00%
Loan amount					31,967		31,967
Common stock forfeited							200,000
Total payments received on forfeited					7,988		7,988
Total shares possible forfeited for loan							100,000
Operating leases, future minimum payments					55,442		55,442
Operating leases future minimum payments due, 2013					27,721		27,721
Lease expense under operating leases					$ 27,721	$ 26,913	$ 54,634	$ 53,043

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Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		123 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Cash flows used in operating activities:
Net loss	$ (1,205,623)	$ (593,633)	$ (18,640,061)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,711	16,829	383,336
Original debt discount			450,000
Accretion of debt costs and beneficial conversion feature			1,237,263
Stock-based compensation	55,467	14,541	327,031
Common stock issued for services	10,000	44,750	54,750
Convertible debt issued for expenses			90,000
Bad debt expense	(2,282)		14,531
Decrease (increase) in:
Grants and other receivables	27,863	80,322	(32,746)
Prepaid expenses and other assets	(740)		(8,253)
Increase (decrease) in:
Accounts payable and notes payable	80,420	64,268	157,601
Accrued liabilities	5,876	7,679	624,170
Net cash used in operating activities	(1,019,308)	(365,244)	(15,342,378)
Cash flows used in investing activities:
Purchase of property and equipment	(2,363)	(5,628)	(407,691)
Cash flows from financing activities:
Proceeds from issuance of notes payable			5,240,000
Principal payments on notes payable	(15,000)		(90,000)
Issuance of preferred stock for cash			8,661,747
Issuance of common stock for cash	190,000		3,821,137
Proceeds from exercise of common stock options			9,800
Proceeds from exercise of preferred stock warrants			2,233
Net cash provided by financing activities	175,000		17,644,917
Net change in cash	(846,671)	(370,872)	1,894,848
Cash, beginning of the period	2,741,519	422,198
Cash, end of the period	1,894,848	51,326	1,894,848
Supplemental disclosure of cash flow information:
Cash paid for interest			5,434
CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract
Common stock issues in exchange for technology, shares			219,658
The Company issued 219,658 shares of common stock in exchange for technology			220
The Company converted $1,050,000 of notes payable and $29,691 of accrued interest to 482,008 shares of Series A2 preferred stock			1,050,000
The Company converted $1,050,000 of notes payable and $29,691 of accrued interest to 482,008 shares of Series A2 preferred stock			29,691
Series A2 preferred stock issued for conversion, shares			482,008
The Company converted $3,740,000 of notes payable and $370,346 of accrued interest to 1,787,104 shares of Series B preferred stock			3,740,000
The Company converted $3,740,000 of notes payable and $370,346 of accrued interest to 1,787,104 shares of Series B preferred stock			370,346
Series B preferred stock issued for notes payable and accrued interest			1,787,104
Series B preferred stock issued for research and development			19,457
The Company issued 19,457 shares of Series B preferred stock in exchange for $44,750 of research and development services provided			44,750
The Company issued $360,000 of convertible bridge notes payable with an original debt discount of $360,000. The discount was accreted as interest expense over the term of the note.			360,000
The Company issued $360,000 of convertible bridge notes payable with an original debt discount of $360,000. The discount was accreted as interest expense over the term of the note.			360,000
The Company issued $90,000 in convertible bridge notes payable for professional services provided, with an original debt discount of $90,000. The discount was accreted as interest expense over the term of the note			90,000
The Company issued $90,000 in convertible bridge notes payable for professional services provided, with an original debt discount of $90,000. The discount was accreted as interest expense over the term of the note			90,000
Common stock issued for bridge loan conversion, amount			900,000
Common stock issued for accrued interest, amount			16,644
The Company converted $900,000 of bridge notes payable and $16,644 of accrued interest to 916,644 shares of common stock.			916,644
Series A1 preferred stock, converted to common stock			250,000
Series A2 preferred stock, converted to common stock			2,022,190
Series B preferred stock, converted to common stock			4,102,654
The Company converted 250,000 shares of Series A1 preferred stock, 2,022,190 shares of Series A2 preferred stock, and 4,102,654 shares of Series B preferred stock into 13,791,231 shares of common stock.			13,791,231
The Company issued 10,000 shares of common stock in exchange for licensing $10,000 of research and development assets.	10,000		10,000
Common stock issued for licensing of research and development assets			10,000
The Company financed certain payables in connection with an agreement for the purchase of services to assist in an Investigational New Drug application to the U.S. Food and Drug Administration.

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Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Other receivable, allowance for doubtful accounts	$ 0	$ 2,282
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	24,682,632	24,582,632
Common stock, shares outstanding	24,682,632	24,582,632

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Stock Options and Warrants (Details Narrative) (USD $)

3 Months Ended

6 Months Ended

123 Months Ended

0 Months Ended

Jun. 30, 2012

Jun. 30, 2011

Jun. 30, 2012

Jun. 30, 2011

Jun. 30, 2012

Oct. 13, 2011

2002 Plan [Member]

Percentage

Oct. 13, 2011

2011 Plan [Member]

Common shares available for grant (ins)

878,472

878,472

878,472

4,586,373

1,500,000

Options vesting period (dur)

4 years

Percentage of stock options vesting after one year

25.00%

Options service contractual life

10 years

Common shares available to issue

(228,472)

228,472

Total number of shares approved by Board of Directors for issuance

1,728,472

Stock-based compensation

$ 26,159

$ 7,213

$ 55,467

$ 14,541

$ 327,031

Unrecongnized stock based compensation

$ 311,193

$ 311,193

$ 311,193

Non-vested awards recognized weighted-average period

3 years 4 months 6 days

Options share conversion

2.1633835

Warrant share conversion

2.1633835

Description of warrant exercise price

Each warrant with an exercise price of $1.00 or $2.00 per share may be redeemed by the Company at a price of $0.001 per share in the event (i) the closing sales price of the Company’s common stock is at least $1.50 for the $1.00 warrants or $3.00 for the $2.00 warrants for ten consecutive trading days and (ii) there is an effective public registration statement covering the resale of the common stock issuable upon the exercise of the warrants.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 09, 2012
Document And Entity Information
Entity Registrant Name	Q Holdings, Inc.
Entity Central Index Key	0001366541
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,681,749
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2012

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Stock Options And Warrants - Schedule of Outstanding Common Stock Options and Related Party (Details) (USD $)	3 Months Ended	6 Months Ended
	Mar. 31, 2012	Jun. 30, 2012
Stock Options And Warrants
Number of Options Outstanding, begining balance	3,156,948	3,156,948
Number of Options, Granted	850,000
Number of Options, Exercised
Number of Options, Forfeited		(149,057)
Number of Options Outstanding, ending balance	4,006,948	3,857,891
Weighted Average Exercise Price Per Share, begining balance	$ 0.14	$ 0.14
Weighted Average Exercise Price Per Share, Granted	$ 1.00
Weighted Average Exercise Price Per Share, Exercised
Weighted Average Exercise Price Per Share, Forfeited		$ 0.08
Weighted Average Exercise Price Per Share, ending balance	$ 0.32	$ 0.33
Aggregate intrinsic value of outstanding stock options		$ 2,580,000

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Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended		123 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Income Statement [Abstract]
Grant revenue	$ 7,229	$ 10,173	$ 7,229	$ 10,173	$ 612,457
License fee and other revenues		9,600		14,400	282,900
Total revenues	7,229	19,773	7,229	24,573	895,357
Operating expenses:
Research and development	257,463	158,763	481,670	277,430	9,365,241
General and administrative	345,554	126,633	731,288	340,673	8,392,435
Total operating expenses	603,017	285,396	1,212,958	618,103	17,757,676
Operating loss	(595,788)	(265,623)	(1,205,729)	(593,530)	(16,862,319)
Other income (expense):
Interest income	1,748		2,189		185,531
Interest expense	(1,424)		(3,444)	(1,691)	(2,112,621)
Other income	755	98	1,361	1,588	149,348
Total other income (expense), net	1,079	98	106	(103)	(1,777,742)
Loss before provision for income taxes	(594,709)	(265,525)	(1,205,623)	(593,633)	(18,640,061)
Provision for income taxes
Net loss	$ (594,709)	$ (265,525)	$ (1,205,623)	$ (593,633)	$ (18,640,061)
Weighted average number of common shares outstanding - basic and diluted	24,675,874	4,193,203	24,675,874	4,193,203
Net loss per common share - basic and diluted	$ (0.02)	$ (0.06)	$ (0.05)	$ (0.14)

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Related-Party Transactions

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related-Party Transactions

5. Related-Party Transactions

On January 9, 2010, the Company entered into an unsecured note payable agreement with a stockholder for $15,000 with an annual interest rate of 6% and a maturity date of December 31, 2010. The note was repaid on February 29, 2012.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

4. Commitments and Contingencies

License and Royalty Agreements

The Company has entered into an exclusive license agreement with a university, where the Company has obtained certain intellectual property from the university to commercialize, produce, manufacture, use and sell the patent rights. The Company is required to pay the university a contractual dollar amount for each new investigational drug application filed with the Food and Drug Administration (“FDA”) using the licensed intellectual property. Should the Company receive cash payments from licensing revenue during human trial research, the Company is required to pay 10% of all net licensing revenue (but not including payments for product development activities or equity purchases) to the university up to a certain maximum amount. The Company is also required to pay an amount upon New Drug Application (“NDA”) approval. The NDA approval occurs when the FDA has approved all prior drug testing and allows a new drug to go to the market. Once the Company has an NDA, the Company must pay the university a royalty of 2% of net sales up to a certain dollar amount and 2.5% of net sales in excess of that amount of human therapeutics and must pay the university a royalty of 5% of net sales on any services. If the Company sublicenses the intellectual property, then the Company must pay the university in accordance with the provisions of the agreement.

The Company has a product development agreement with an entity, whereby the Company has granted the entity a non-exclusive right to certain intellectual property owned by the Company and the entity has granted to the Company a non-exclusive right to use certain intellectual property owned by the entity in order to develop new products (“Products”) to be sold primarily by the Company or its designees to the research market. The Company has agreed to pay the entity certain amounts for product development in the form of the Company’s common stock. In addition, the Company has agreed to pay the entity royalty payments of 10% of net sales of the Company to third parties for Products developed using the entity’s intellectual property. If the Company agrees that the entity can also sell Products to third parties and if the entity has sales to a third party of Products using the Company’s intellectual property, then the entity will pay the Company a royalty payment of 10% of net sales. However, if the Products sold by the entity are covered solely by the Company’s patents and know-how, then a 50-50 financial sharing arrangement between the entity and the Company will apply to such Products. 

Right of First Negotiation

Pursuant to an agreement (“Agreement”) the Company has irrevocably granted a stockholder with a right of first negotiation to license certain technology of the Company related to Q-Cells®. The term of the Agreement is for a period of the later of (i) 3 years from the effective date of the Agreement (October 6, 2011) or (ii) 6 months after the date of completion of certain dosing of the technology.

Asset Purchase Agreement

On March 26, 2012, Q Holdings, Inc., Q Therapeutics, Inc. and NeuroQ Research, Inc. executed an agreement to acquire certain intellectual property and technology. The agreement is milestone based and, if the milestones are achieved in 2012, it will provide the Company with manufacturing protocols for several types of neural cells. The Company will issue payment in the form of common stock and warrants as intellectual property and technology is delivered to the Company in 2012. In April 2012, the Company issued 10,000 units of common stock and warrants as initial payment for transfer of intellectual property.

Research Agreement

On March 27, 2012, the Company executed an agreement for outside research study services. The total contract price is $237,400 and the Company is required to make certain payments under the agreement as milestones are met. A separate agreement with the services provider allows the Company to pay 25% of the invoiced amount in cash and allows the balance to be financed and recorded as a loan to be paid over the following 36-60 months. Originally, the agreement had a provision that allowed the holder to convert the balance into Q Therapeutics, Inc. series B preferred stock. The Company currently is in negotiations to revise this agreement to allow conversion to Q Holding, Inc.’s common stock. Interest is being recorded at 8% annually. The total amount invoiced to date is $142,400 and payments of $35,600 were made in May 2012. As of June 30, 2012, the balance outstanding is $108,000, of which $106,800 relates to principal and $1,424 relates to accrued interest. The agreement is expected to conclude in 2012.

Placement Agent Agreement

On June 27, 2012, the Company entered into an agreement with a placement agent in connection with the private placement. Under the agreement, a fee of $5,000 was paid in June. For any securities purchased by certain purchasers, the placement agent will receive a cash placement fee equal to 8% and warrants equal to 10%.

Secured Promissory Note 

The Company entered into an agreement with two shareholders whereby the loan amount of $31,967 plus interest is to be repaid to the Company by December 31, 2012. For each month of non-payment, 1/12 of a combined 200,000 common shares are forfeited. As of June 30, 2012, total payments received were $7,988 and total shares forfeited for loan default were 100,000. The Company believes the full amount of the note will be collected.

Operating Leases

The Company leases its office and lab facility under a non-cancelable operating lease. The current lease was renewed effective April 1, 2011 and expires March 2013. The minimum future lease payments under this operating lease as of June 30, 2012 is $55,442 due during the year ending December 31, 2012 and $27,721 due during the year ending December 31, 2013.

Lease expense under operating leases was $27,721 and $26,913 for the three months ended June 30, 2012 and 2011, respectively. Lease expense under operating leases was $54,634 and $53,043 for the six months ended June 30, 2012 and 2011, respectively.

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Related-Party Transactions (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2012	Jan. 09, 2010 Percentage
Notes to Financial Statements
Unsecured note payable agreement		$ 15,000
Annual interest rate		6.00%
Maturity date	Dec. 31, 2010
Date of note repaid	2012-02-29

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Stock Options And Warrants - Fair Value of Stock-Based Compensation Award Granted, Assumptions (Details)	6 Months Ended
	Jun. 30, 2012 Percentage
Risk-free interest rate, minimum	2.61%
Risk-free interest rate, maximum	3.36%
Expected stock price volatility	62.19%
Expected dividend yield	0.00%
Maximum [Member]
Expected life of options	5 years 6 months
Minimum [Member]
Expected life of options	6 years 6 months

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Organization and Summary of Significant Accounting Policies (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Mar. 28, 2002 Percentage
Organization And Summary Of Significant Accounting Policies
Percentage of acquisition				100.00%
Common stock issued for merger per share				2.1633835
Percentage of shares issued and outstanding by Q Therapeutics stockholders				89.70%
Deficit accumulated during the development stage	$ 18,640,061		$ 17,434,438
Private placement of common stock, gross	$ 4,018,047
Anti dilutive losses	15,830,505	8,331,561

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Organization and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2012

Organization And Summary Of Significant Accounting Policies

Organisation

Organization

Q Holdings, Inc. (“the Company”) (formerly known as Grace 2, Inc.) was incorporated on October 27, 2005 as a Delaware corporation.

On October 13, 2011, Grace 2, Inc. entered into an Agreement and Plan of Merger (“Agreement”) with Q Acquisition, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Q Therapeutics, Inc. Q Therapeutics, Inc. was incorporated on March 28, 2002 as a Delaware corporation. Pursuant to the Agreement, Merger Sub merged with and into Q Therapeutics, Inc. with Q Therapeutics, Inc. being the surviving corporation. Upon the consummation of the merger, the Company acquired 100% of Q Therapeutics, Inc. by issuing 2.1633835 shares of common stock for each outstanding equity instrument of Q Therapeutics, Inc. After the effective date of the transaction, the former Q Therapeutics, Inc. stockholders owned 89.7% of the issued and outstanding common shares of Grace 2, Inc. Also, at the time of the transaction Grace 2, Inc. was renamed Q Holdings, Inc. The transaction was accounted for as a reverse acquisition with Q Therapeutics, Inc. as the accounting acquirer. The condensed consolidated financial statements include the activity of Q Therapeutics, Inc. from inception (March 28, 2002) through June 30, 2012, and the activity of Q Holdings, Inc. and Q Therapeutics, Inc. from the date of acquisition (October 13, 2011) forward.

The Company is a development stage company in the process of developing products to treat debilitating and fatal diseases of the central nervous system.

Basis of Presentation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements include the accounts of Q Holdings, Inc. and its wholly owned subsidiary, Q Therapeutics, Inc. and Q Therapeutics, Inc.’s majority owned subsidiary, NeuroQ Research, Inc. (collectively, “the Company”). All significant intercompany amounts have been eliminated. There has been no activity in NeuroQ Research, Inc. since NeuroQ Research, Inc. was formed; therefore, no non-controlling interest is presented. The unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial information set forth therein. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to SEC rules and regulations, although the Company believes that the following disclosures, when read in conjunction with the annual financial statements and the notes thereto, are adequate to make the information presented not misleading. Operating results for the three and six months ended June 30, 2012, are not necessarily indicative of the results that may be expected for the year ending December 31, 2012.

Development Stage and Liquitdity

Development Stage and Liquidity

For the period from March 28, 2002 (date of inception) through June 30, 2012, the Company has not generated significant revenues and has been developing its products. Therefore, the Company is considered to be in the development stage in accordance with the provisions of Accounting Standards Codification (“ASC”) Topic 915, Development Stage Entities. Cumulative amounts have been presented for the period from March 28, 2002 (date of inception) through June 30, 2012. Historically, the Company has been dependent on government grants and debt and equity raised from individual investors to sustain its operations. The Company’s products have not been approved by the FDA for commercial sale; therefore, the Company has not generated revenues from commercial product sales. The Company has incurred losses and used cash in operating activities since inception. As of June 30, 2012, the Company had a deficit accumulated during the development stage of $18,640,061. From October 13, 2011 through June 30, 2012, the Company raised $4,018,047 in a private placement of the Company’s common stock. Although there can be no assurance, management believes that the Company has sufficient resources to fund the Company’s operations through at least June 30, 2013.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Key estimates include useful lives for property and equipment, valuation allowances for net deferred income tax assets, and values of stock-based compensation awards. 

Stock Based Compensation

Stock-Based Compensation

The Company calculates the estimated fair value of its stock options and warrants on the grant date using the Black-Scholes option-pricing model and recognizes the estimated fair value as compensation expense on a straight-line basis over the vesting period. The volatility assumption used in the Black-Scholes option-pricing model is based on the volatility of publicly traded companies in the same industry as the Company. The expected terms of the options and warrants granted represent the period of time that the options granted are expected to be outstanding. The risk free rate for periods within the contractual lives of the option and warrant is based on the U.S. treasury securities constant maturity rate that corresponds to the expected terms in effect at the time of grant. 

Net Loss Per Common Share

Net Loss Per Common Share

Basic net income or loss per common share (“Basic EPS”) is computed by dividing net income or loss by the weighted average number of common shares outstanding. Diluted net income or loss per common share (“Diluted EPS”) is computed by dividing net income or loss by the sum of the weighted average number of common shares outstanding and the dilutive potential common share equivalents then outstanding. Potential dilutive common share equivalents consist of shares issuable upon the exercise of outstanding stock options and warrants to acquire common stock. 

Due to the fact that for all periods presented, the Company has incurred net losses, potential dilutive common share equivalents of 15,830,505 and 8,311,561 for the six months ended June 30, 2012 and 2011, respectively, are not included in the calculation of Diluted EPS because they are anti-dilutive. Therefore, basic loss per common share is the same as diluted loss per common share for the six months ended June 30, 2012 and 2011.

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Stock Options and Warrants (Tables)

6 Months Ended

Jun. 30, 2012

Stock Options And Warrants

Schedule of Outstanding Common Stock Options and Related Party

The following sets forth the outstanding common stock options and related activity for the six months ended June 30, 2012:

	Number of Options			Weighted Average Exercise Price Per Share
Outstanding as of December 31, 2011		3,156,948		$	0.14
Granted		850,000			1.00
Exercised		-			-
Forfeited		-			-
Outstanding as of March 31, 2012		4,006,948			0.32
Granted		-			-
Exercised		-			-
Forfeited		(149,057	)		0.08
Outstanding as of June 30, 2012		3,857,891			0.33

Fair Value of Stock-Based Compensation Award Granted, Assumptions

The fair value of each stock-based compensation award granted during the six months ended June 30, 2012, was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate	2.61 - 3.36%
Expected stock price volatility	62.19%
Expected dividend yield	0%
Expected life of options	5.5 – 6.5 years

Schedule of Information about Stock Options Outstanding

The following summarizes information about stock options outstanding as of June 30, 2012:

Exercise Price		Number of Options Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Options Exercisable		Weighted Average Exercise Price
$	0.06 – 0.08		935,051		7.52	$	0.08		935,051	$	0.08
$	0.15 – 0.19		2,072,840		6.75		0.17		1,952,653		0.17
$	1.00		850,000		9.51		1.00		106,250		1.00
			3,857,891		7.54		0.33		2,993,954		0.17

Summary of Indormation about Stock Warrants Exercisable

The following summarizes information about stock warrants as of June 30, 2012, all of which are exercisable:

Warrants	Year of Expiration		Number of Shares		Exercise Price
Common stock warrants issued for previously issued Series A2 warrants		2015		132,797	$	0.046
Common stock warrants issued for previously issued Series B warrants		2015		823,347		1.035
Common stock warrants issued for previously issued Series B warrants		2017		192,242		0.532
Warrants issued in conjunction with bridge notes (August 31, 2011)		2018		1,816,644		1.00
Warrants issued in conjunction with bridge notes (August 31, 2011)		2018		916,644		2.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011)		2018		3,828,047		1.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011)		2018		3,828,047		2.00
Warrants issued for fees in conjunction with reverse merger (October 13 and December 30, 2011)		2018		22,750		1.20
Warrants issued in conjunction with private placement (February 2 and March 30, 2012)		2019		190,000		1.00
Warrants issued in conjunction with private placement (February 2 and March 30, 2012)		2019		190,000		2.00
Warrants issued for fees in conjunction with private placement (February 2 and March 30, 2012)		2019		19,000		1.20
Warrants issued in conjunction with asset purchase agreement (April 9, 2012)		2019		10,000		1.00
Warrants issued in conjunction with asset purchase agreement (April 9, 2012)		2019		10,000		2.00
				11,979,518

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Private Placement Memorandum (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2012
Units sold from Private placement of common stock	4,018,047
Net proceeds from Private Placement	$ 3,820,318
Issuance cost for private placements	$ 197,729
Minimum [Member]
Private placement number of units offered	3,000,000
Maximum [Member]
Private placement number of units offered	6,000,000
Exercisable At $1.00 Per Share, [Member]
Exercisable price of warrant	$ 1.00
Exercisable At $2.00 Per Share, [Member]
Exercisable price of warrant	$ 2.00

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Stock Options And Warrants - Summary of Information about Stock Warrants Exercisable (Details) (USD $)	6 Months Ended
	Jun. 30, 2012
Stock Options And Warrants - Summary Of Information About Stock Warrants Exercisable Details
Common stock warrants issued for previously issued Series A2 warrants, Year of Expiration	2015
Common stock warrants issued for previously issued Series B warrants, Year of Expiration	2015
Common stock warrants issued for previously issued Series B warrants, Year of Expiration	2017
Warrants issued in conjunction with bridge notes (August 31, 2011), Year of Expiration	2018
Warrants issued in conjunction with bridge notes (August 31, 2011), Year of Expiration	2018
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Year of Expiration	2018
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Year of Expiration	2018
Warrants issued for fees in conjunction with reverse merger (October 13 and December 30, 2011), Year of Expiration	2018
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Year of Expiration	2019
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Year of Expiration	2019
Warrants issued for fees in conjunction with private placement (February 2 and March 30, 2012), Year of Expiration	2019
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Year of Expiration	2019
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Year of Expiration	2019
Common stock warrants issued for previously issued Series A2 warrants, Number of Shares	132,797
Common stock warrants issued for previously issued Series B warrants, Number of Shares	823,347
Common stock warrants issued for previously issued Series B warrants, Number of Shares	192,242
Warrants issued in conjunction with bridge notes (August 31, 2011), Number of Shares	1,816,644
Warrants issued in conjunction with bridge notes (August 31, 2011), Number of Shares	916,644
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Number of Shares	3,828,047
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Number of Shares	3,828,047
Warrants issued for fees in conjunction with reverse merger (October 13 and December 30, 2011), Number of Shares	22,750
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Number of Shares	190,000
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Number of Shares	190,000
Warrants issued for fees in conjunction with private placement (February 2 and March 30, 2012), Number of Shares	19,000
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Number of Shares	10,000
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Number of Shares	10,000
Stock warrants, exercisable, Number of Shares	11,979,518
Common stock warrants issued for previously issued Series A2 warrants, Exercise Price	$ 0.046
Common stock warrants issued for previously issued Series B warrants, Exercise Price	$ 1.035
Common stock warrants issued for previously issued Series B warrants, Exercise Price	$ 0.532
Warrants issued in conjunction with bridge notes (August 31, 2011), Exercise Price	$ 1.00
Warrants issued in conjunction with bridge notes (August 31, 2011), Exercise Price	$ 2.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Exercise Price	$ 1.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011), Exercise Price	$ 2.00
Warrants issued for fees in conjunction with reverse merger (October 13 and December 30, 2011), Exercise Price	$ 1.20
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Exercise Price	$ 1.00
Warrants issued in conjunction with private placement (February 2 and March 30, 2012), Exercise Price	$ 2.00
Warrants issued for fees in conjunction with private placement (February 2 and March 30, 2012), Exercise Price	$ 1.20
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Exercise Price	$ 1.00
Warrants issued in conjunction with asset purchase agreement (April 9, 2012), Exercise Price	$ 2.00

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Statement Of Stockholder’s Equity (Deficit) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Deficit Accumulated During Development Stage [Member]	Total
Balance, at Dec. 31, 2011	$ 2,458	$ 19,972,937	$ (17,434,438)	$ 2,540,957
Balance,shares at Dec. 31, 2011	24,582,632
Stock-based compensation expense		55,467		55,467
Common stock issued for cash ($1.00 per share)	19	189,981		190,000
Common stock issued for cash,shares	190,000
Common stock issued for asset purchase ($1.00 per share)	1	9,999		10,000
Common stock issued for asset purchase,shares	10,000
Common stock forfeited for loan default	(8)	8
Common stock forfeited for loan default,shares	(100,000)
Net loss			(1,205,623)	(1,205,623)
Balance, at Jun. 30, 2012	$ 2,470	$ 20,228,392	$ (18,640,061)	$ 1,590,801
Balance,shares at Jun. 30, 2012	24,682,632

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Stock Options and Warrants

6 Months Ended

Jun. 30, 2012

Stock Options And Warrants

Stock Options and Warrants

3. Stock Options and Warrants

Stock Options

The Q Therapeutics, Inc. stock option plan, originally approved on April 10, 2002 and subsequently amended (the “2002 Plan”), provides for the grant of incentive options, nonqualified options, and shares of restricted stock. Under the terms of the 2002 Plan, there are 4,586,373 common shares available for grant to employees, officers, directors and consultants. The Board of Directors determines the terms of each grant. Generally, the options have a vesting period of 4 years with 25% vesting after the first year of service and monthly thereafter, and have a 10-year contractual life. Certain stock options have provisions to accelerate vesting upon the occurrence of certain events. The 2002 Plan converted to a Q Holdings, Inc. plan in connection with the merger discussed in Note 1. As of October 13, 2011, there were 228,472 common shares available to be issued under the 2002 Plan.

On October 13, 2011, the 2011 Stock Option Plan for Q Holdings, Inc. (the “2011 Plan”) was adopted, authorizing 1,500,000 common shares available for grant to employees, officers, directors and consultants. On October 13, 2011, a majority of stockholders approved the 2011 Plan adopted by the Board of Directors and approved a total of 1,728,472 shares for issuance under the 2011 Plan with the remaining 228,472 shares previously available under the 2002 Plan made available for issuance under the 2011 Plan. As of June 30, 2012, there were 878,472 shares available for option grants under the 2011 Plan.

Stock-based compensation for the three months ended June 30, 2012 and 2011 was $26,159 and $7,213, respectively. Stock-based compensation for the six months ended June 30, 2012 and 2011 was $55,467 and $14,541, respectively. As of June 30, 2012, the Company had $311,193 of unrecognized stock-based compensation expense related to non-vested awards that will be recognized over a weighted-average period of 3.35 years.

In conjunction with the 2011 reverse merger, the options to purchase preferred stock in Q Therapeutics, Inc. were exchanged for options to purchase common stock in Q Holdings, Inc. Each option in Q Therapeutics, Inc. was exchanged for 2.1633835 options in Q Holdings, Inc. with the exercise price adjusted down by the same factor, and all other terms remained unchanged.

The following sets forth the outstanding common stock options and related activity for the six months ended June 30, 2012:

	Number of Options			Weighted Average Exercise Price Per Share
Outstanding as of December 31, 2011		3,156,948		$	0.14
Granted		850,000			1.00
Exercised		-			-
Forfeited		-			-
Outstanding as of March 31, 2012		4,006,948			0.32
Granted		-			-
Exercised		-			-
Forfeited		(149,057	)		0.08
Outstanding as of June 30, 2012		3,857,891			0.33

The aggregate intrinsic value of outstanding stock options as of June 30, 2012 was approximately $2,580,000.

The fair value of each stock-based compensation award granted during the six months ended June 30, 2012, was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate	2.61 - 3.36%
Expected stock price volatility	62.19%
Expected dividend yield	0%
Expected life of options	5.5 – 6.5 years

The following summarizes information about stock options outstanding as of June 30, 2012:

Exercise Price		Number of Options Outstanding		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Options Exercisable		Weighted Average Exercise Price
$	0.06 – 0.08		935,051		7.52	$	0.08		935,051	$	0.08
$	0.15 – 0.19		2,072,840		6.75		0.17		1,952,653		0.17
$	1.00		850,000		9.51		1.00		106,250		1.00
			3,857,891		7.54		0.33		2,993,954		0.17

Warrants

In conjunction with the reverse merger, the warrants to purchase preferred stock in Q Therapeutics, Inc. were exchanged for warrants to purchase common stock in Q Holdings, Inc. Each warrant in Q Therapeutics, Inc. was exchanged for 2.1633835 warrants in Q Holdings, Inc. and the exercise price was adjusted down by the same factor. All other terms remained unchanged. Warrants were issued in 2012 and 2011 related to the bridge funding and private placement.

In connection with certain stock offerings and debt issuances, the Company has issued warrants to purchase common stock. The following summarizes information about stock warrants as of June 30, 2012, all of which are exercisable:

Warrants	Year of Expiration		Number of Shares		Exercise Price
Common stock warrants issued for previously issued Series A2 warrants		2015		132,797	$	0.046
Common stock warrants issued for previously issued Series B warrants		2015		823,347		1.035
Common stock warrants issued for previously issued Series B warrants		2017		192,242		0.532
Warrants issued in conjunction with bridge notes (August 31, 2011)		2018		1,816,644		1.00
Warrants issued in conjunction with bridge notes (August 31, 2011)		2018		916,644		2.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011)		2018		3,828,047		1.00
Warrants issued in conjunction with private placement (October 13 and December 30, 2011)		2018		3,828,047		2.00
Warrants issued for fees in conjunction with reverse merger (October 13 and December 30, 2011)		2018		22,750		1.20
Warrants issued in conjunction with private placement (February 2 and March 30, 2012)		2019		190,000		1.00
Warrants issued in conjunction with private placement (February 2 and March 30, 2012)		2019		190,000		2.00
Warrants issued for fees in conjunction with private placement (February 2 and March 30, 2012)		2019		19,000		1.20
Warrants issued in conjunction with asset purchase agreement (April 9, 2012)		2019		10,000		1.00
Warrants issued in conjunction with asset purchase agreement (April 9, 2012)		2019		10,000		2.00
				11,979,518

Each warrant with an exercise price of $1.00 or $2.00 per share may be redeemed by the Company at a price of $0.001 per share in the event (i) the closing sales price of the Company’s common stock is at least $1.50 for the $1.00 warrants or $3.00 for the $2.00 warrants for ten consecutive trading days and (ii) there is an effective public registration statement covering the resale of the common stock issuable upon the exercise of the warrants.

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Stock Options And Warrants - Schedule of Information about Stock Options Outstanding (Details) (USD $)	6 Months Ended
	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011
Number of Options Outstanding	3,857,891	4,006,948	3,156,948
Weighted Average Remaining Contractual Life (Years)	7 years 6 months 15 days
Weighted Average Exercise Price	$ 0.33	$ 0.32	$ 0.14
Number of Options Exercisable	2,993,954
Weighted Average Exercise Price, Exercisable	$ 0.17
Range One [Member]
Exercise Price, lower limit	$ 0.06
Exercise Price, upper limit	$ 0.08
Number of Options Outstanding	935,051
Weighted Average Remaining Contractual Life (Years)	7 years 6 months 7 days
Weighted Average Exercise Price	$ 0.08
Number of Options Exercisable	935,051
Weighted Average Exercise Price, Exercisable	$ 0.08
Range Two [Member]
Exercise Price, lower limit	$ 0.15
Exercise Price, upper limit	$ 0.19
Number of Options Outstanding	2,072,840
Weighted Average Remaining Contractual Life (Years)	6 years 9 months
Weighted Average Exercise Price	$ 0.17
Number of Options Exercisable	1,952,653
Weighted Average Exercise Price, Exercisable	$ 0.17
Range Three [Member]
Exercise Price, upper limit	$ 1.00
Number of Options Outstanding	850,000
Weighted Average Remaining Contractual Life (Years)	9 years 6 months 4 days
Weighted Average Exercise Price	$ 1.00
Number of Options Exercisable	106,250
Weighted Average Exercise Price, Exercisable	$ 1.00