Equity Financing and the Debt Restructuring (Tables)

3 Months Ended

Mar. 31, 2013

Equity Financing and the Debt Restructuring [Abstract]

Schedule of Debt Conversion

All warrants listed below were issued with price protection provisions and were accounted for as derivative liabilities. The A Warrants were valued using the Black Scholes pricing model and the B Warrants were valued using the Geometric Brownian Motion methodology with a risk neutral Monte Carlo approach.

	Common Shares Issued		Number of A Warrants		Value of A Warrants		Value of B Warrants		Total Warrant Value
Investors		24,816,000		12,408,000	$	693,444	$	39,387	$	732,831
Bridge Loan Conversion		1,600,000		800,000		44,710		2,539		47,249
Equipment Finance Conversion		2,000,000		1,000,000		55,887		3,174		59,061
Agency		--		4,262,400		238,212		13,531		251,743
Total		28,416,000		18,470,400	$	1,032,253	$	58,631	$	1,090,884