Warrant Liabilities

12 Months Ended

Dec. 31, 2011

Warrant Liabilities [Abstract]

Warrant Liabilities

9. Warrant Liabilities

Liabilities measured at market value on a recurring basis include warrant liabilities resulting from the Company's past equity financing.  In accordance with the guidance which is now ASC 815-40, the warrant liabilities are being marked to market until they are completely settled.  The warrants are valued using the Black-Scholes method, using assumptions consistent with our application of ASC 505-50.  The gain or loss resulting from the marked to market calculation is shown on the Consolidated Statements of Operations as Gain on warrant derivative liability.  The Company recognized gains of $7,915,026, $933,420 and $656,905 in 2011, 2010 and 2009, respectively.