Note 8. Stockholders’ Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note Disclosure [Text Block]

Note 8. Stockholders’ Equity

Preferred Stock

Our certificate of incorporation authorizes our Board of Directors to issue preferred stock, from time to time, on such terms and conditions as they shall determine. As of December 31, 2010 and December 31, 2011 there were no outstanding shares of our preferred stock.

Common Stock

As of December 31, 2010 and December 31, 2011 there were 51,782,619 and 59,242,220 shares of common stock outstanding, respectively. The increase in shares during the year ended December 31, 2011 is comprised of the following stock issuances: (i) 2,765,070 shares of our common stock issued to purchasers of our Winter 2011 PPM, (ii) 1,590,600 shares of our common stock issued to purchasers or our Fall 2008 convertible notes (iii) 1,059,215 shares issued to purchasers of our Fall 2001 PPM, (iv) 733,108 shares as payment of our Spring 2008 Notes and related accrued interest, (v) 590,244 shares of our common stock to our officers for payment of payables and as a stock bonus, (vi) 350,000 shares issued to purchasers of our Summer 2010 PPM, (vii) 177,673 shares as payment of our Spring 2009 Notes accrued interest, (viii) 100,092 shares as payment of our Spring 2010 Notes accrued interest, and (ix) 93,599 shares as payment to consultants in lieu of accrued and unpaid obligations.