Redeemable Series G Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2013

Text Block [Abstract]

Allocation of Cash from Series G Preferred and Warrants Issued

The following table summarizes the allocation for each of these transactions as of October 11, 2010:

	Financing		Exchange			Total
Redeemable preferred stock (1)	$	2,747,476	$	888,997		$	3,636,473
Compound embedded derivatives (2)		1,389,114		261,318			1,650,432
Warrant derivatives (2)		913,410		161,190			1,074,600
Extinguishment loss		—		(383,023	)		(383,023	)
	$	5,050,000	$	928,482		$	5,978,482

(1) The fair value of the redeemable preferred stock was estimated based upon its forward cash flow value, at a credit-risk adjusted market interest rate, as enhanced by the fair value of the conversion feature. Credit-risk adjusted rates used to discount the cash flow component ranged from 3.98% to 4.89% over our estimated period to redemption, which was October 2013. The fair value of the conversion feature is reflected in the compound embedded derivative line of the table.

(2) See NOTE K for information related to the valuation of these financial instruments both on the inception date of the transactions and at December 31, 2013.