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Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2011
Feb. 29, 2012
Document Information [Line Items]    
Document Type 10-K  
Amendment Flag true  
AmendmentDescription We are filing this Amendment No. 1 on Form 10-K/A (the “Amended Filing”) to our Annual Report on Form 10-K for the year ended December 31, 2011 (the “Original Filing”) filed with the Securities and Exchange Commission (“SEC”) on March 6, 2012 to amend and restate our consolidated financial statements and related disclosures for the year ended December 31, 2011 as discussed in Note 2 to the accompanying restated consolidated financial statements. 1. Background of the Restatement As discussed in the Form 8-K filed on May 14, 2012, the Company’s management recommended and its Board of Directors concluded, that the Company’s previously issued audited consolidated financial statements for the year ended December 31, 2011 and the interim unaudited condensed consolidated financial statements included in our September 30, 2011 Quarterly Report on Form 10-Q filed with the SEC on November 14, 2011, needed to be restated as a result of certain corrections and therefore could no longer be relied upon The effect of the (non-cash) changes in our accounting treatment related to the fair value of our derivative warrant liabilities and beneficial conversion feature embedded in our Preferred Stock, described below, resulted in an increase in our net loss as reported in our statement of operations for the year ended December 31, 2011 of $1,875,463 and a increase in our net loss attributable to common shareholders to $10,987,243. Our basic and diluted loss attributable to common shareholders per share for the year ended December 31, 2011 increased by $0.09 per share to a loss of $0.45. The cumulative effect on our balance sheet was to increase in our stockholders’ deficit by $591,036 to $4,959,805 as of December 31, 2011. As is detailed in Note 2 of the notes to consolidated financial statements in this Annual Report, the restatements are the result of corrections that management determined were necessary as of December 31, 2011 and for the year ended December 31, 2011 for the following items: 10% Convertible Preferred Stock - Make Good Adjustment The terms of our Preferred Stock include a provision which stipulated that if revenue, as reported, for the year ended December 31, 2011 was not at least $10 million, we shall (i) issue a warrant (the “Make Good Warrant”) to each holder of our Preferred Stock to purchase a number of shares of common stock equal to fifty percent of the number of shares of common stock issuable upon conversion of their Preferred Stock and (ii) reduce the conversion rate of the Preferred Stock to $1.00 from $1.25. (a) We determined that we did not properly record and subsequently mark-to-market, our derivative liabilities related to the Make Good Warrants pursuant to ASC Topic 815 – “Derivatives and Hedging”, which requires these Make Good Warrants to be recorded on the balance sheet at fair value and subsequently marked-to-market at each reporting date. The Preferred Stock was issued in March and April 2011 at which time we estimated that we would report at least $10 million in revenue, therefore we determined that the Make Good Warrants had no probability-weighted fair value at issuance. Since we estimated at September 30, 2011 that there was a probability of not reaching the $10 million in revenue for the year ended December 31, 2011, we should have recorded the change in fair value of the Make Good Warrants (as if issued), as an increase in the derivative liability and a charge to current earnings as a “loss in change in fair value of derivative liability – warrants”. At December 31, 2011, since it was conclusive that we would not report revenue for the year ended December 31, 2011 of at least $10 million, we again should have marked the derivative liability to market and recorded a “gain in change in fair value of derivative liability – warrants”. Accordingly, the interim unaudited condensed consolidated financial statements for the three months ended September 30, 2011 and the audited consolidated financial statements for the year ended December 31, 2011, will be restated. We determined that this adjustment does not impact the previously issued interim unaudited condensed consolidated financial statements for the three months ended March 31, 2011 and June 30, 2011, included in our Form 10-Q filed May 18, 2011, and August 15, 2011, respectively. Accordingly, the interim unaudited condensed consolidated financial statements for these periods will not be restated. (b) We determined that we did not properly revalue and adjust the fair value of the beneficial conversion feature embedded in the Preferred Stock at December 31, 2011 when it was conclusive that we would not report revenue for the year ended December 31, 2011 of at least $10 million, By terms of the Preferred Stock we were required to reduce the conversion price of that Preferred Stock to $1.00 from $1.25. The reduced conversion price should have been compared to the fair value of our common stock on the dates we originally issued the Preferred Stock and the resulting intrinsic value per share applied to the number of shares of common stock we would issue if converted. At December 31, 2011, this would have resulted in an increase in the Preferred Stock Discount and additional amortization of that discount. Accordingly, the consolidated financial statements for the year ended December 31, 2011, will be restated. 2. Internal Control Considerations Management determined that there was a deficiency in its internal control over financial reporting that constitutes a material weakness, as discussed in Part II — Item 9A of the Amended Filing. A material weakness in internal control over financial reporting is defined in Section 210.1-02(4) of Regulation S-X as a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the annual or interim consolidated financial statements will not be prevented or detected on a timely basis. For a discussion of management’s consideration of the Company’s disclosure controls and procedures and the material weaknesses identified, see Part II — Item 9 included in this Amended Filing. 3. Amended Items For the convenience of the reader, this Amended Filing sets forth the Original Filing as modified and superseded where necessary to reflect the restatement. The following items have been amended as a result of, and to reflect, the restatement: ● Part II — Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; ● Part II — Item 8. Consolidated Financial Statements and Supplementary Data; and ● Part II — Item 9A. Controls and Procedures. In accordance with applicable SEC rules, this Amended Filing includes certifications from our Chief Executive Officer and Chief Financial Officer dated as of the date of this filing. Except for the items noted above, no other information included in the Original Filing is being amended by this Amended Filing. The Amended Filing continues to speak as of the date of the Original Filing and we have not updated the filing to reflect events occurring subsequently to the Original Filing date other than those associated with the restatement of the Company’s consolidated financial statements. Accordingly, this Amended Filing should be read in conjunction with our filings made with the SEC subsequent to the filing of the Original Filing.  
Document Period End Date Dec. 31, 2011  
Document Fiscal Year Focus 2011  
Document Fiscal Period Focus FY  
Trading Symbol AXIH  
Entity Registrant Name AXION INTERNATIONAL HOLDINGS, INC.  
Entity Central Index Key 0000753048  
Current Fiscal Year End Date --12-31  
Entity Well-known Seasoned Issuer No  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   25,627,566
Entity Public Float   $ 15,048,678