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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Schedule of Common Stock Shares Issued

During the six months ended June 30, 2013, we issued shares of common stock as follows:

 

     Common
Stock
        
     Shares      Amount  

Warrant exercise

     7,232,779       $ 21,698,338   

Common stock issued for services

     61,900         178,858   

Note conversions and discounts (see Note 6)

     89,942         113,993   
  

 

 

    

 

 

 
     7,384,621       $ 21,991,189   
  

 

 

    

 

 

 
Summary of Warrants Issued and Outstanding

 

The following table summarizes the warrants issued and outstanding as of June 30, 2013:

 

Warrants Issued and Outstanding as of June 30, 2013

 
     Date of      Exercise      Shares of  

Description

   Issuance      Expiration      Price      Common Stock  

Exercisable warrants

           

Warrant 1-1

     03/22/12         03/21/17       $ 0.37         1,381,115   

Warrant 1-5

     10/10/12         10/09/17       $ 0.37         5,524,461   

Warrant 1-6

     03/29/13         03/21/17       $ 0.37         500,000   

Less warrants exercised

              (7,405,576
           

 

 

 

Total exercisable warrants

              —     

Contingent warrants

           

Warrant 1-2

     03/22/12         03/21/17       $ 0.37         345,278   

Warrant 1-3

     03/22/12         03/21/17       $ 0.37         345,278   

Warrant 1-4

     03/22/12         03/21/17       $ 0.37         690,557   
           

 

 

 

Total contingent warrants

              1,381,113   
           

 

 

 

Total warrants issued and outstanding

  

           1,381,113   
Summary of Stock Option Activity

Following is a summary of stock option activity subsequent to December 31, 2012 through June 30, 2013:

 

     Stock Options  
                  Weighted-  
                  Average  
     Number    

Exercise

Price Per

     Exercise
Price
 
     of Shares     Share      Per Share  

Outstanding at December 31, 2012

     3,350,115        2.00—2.79         2.20   

Granted

     108,000        2.65—2.65         2.65   

Canceled/Forfeited

     (41,000     2.10—2.79         2.24   
  

 

 

      

Outstanding at June 30, 2013

     3,417,115        2.65—2.65         2.22
Summary of Stock Option Outstanding

The following additional information applies to options outstanding at June 30, 2013:

 

Ranges of Exercise Prices

 

Outstanding at June 30,
2013

 

Weighted-Average
Remaining Contractual
Life

 

Weighted-Average
Exercise Price

 

Excercisable at June 30,
2013

 

Weighted-Average
Exercise Price

$2.00—$2.79

  3,417,115   8.2   $2.22   1,989,449   $2.27