Equity Transactions

3 Months Ended

Mar. 31, 2012

Equity Transactions [Abstract]

Equity Transactions

11. Equity Transactions

On August 1, 2011, the Company undertook a $20.4 million underwritten public offering.  In the offering, the Company sold and issued 39.2 million shares of common stock at a price of $0.51 per share and warrants at a price of $0.01 per warrant to purchase up to approximately 45.1 million shares of common stock at an exercise price of $0.64 per share.  Net of underwriting discounts, legal, accounting and other offering expenses, the Company received proceeds of approximately $18.9 million.

On July 8, 2011, the Company effected an increase in the authorized shares of common stock from 175,000,000 shares to 250,000,000 shares and an increase in the designated number of shares of Series A Preferred Stock associated with the Company's rights plan from 15,000 shares to 25,000 shares.