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Note 6 - Conversion of Notes
9 Months Ended
Sep. 30, 2013
Conversion Of Spring 2008 Notes [Abstract]  
Conversion Of Spring 2008 Notes [Text Block]

Note 6.   Conversion of Notes


As of December 31, 2012 each of our convertible Notes and related accrued and unpaid interest have been converted into shares of our common stock at a conversion rate set forth in the respective convertible Note offering.


Spring 2010 Notes


On December 27, 2012, our Board elected to convert the $413,775 outstanding principal amount of promissory notes issued in our Spring 2010 Offering) into 720,443 shares of our common stock at the conversion rate set forth in the notes of $0.575 per share. The Spring 2010 notes were set to mature on April 15, 2013. As consideration for the early termination, we paid accrued interest through the April 15, 2013 maturity date (see Note 10), and extended the January 15, 2013 expiration of the Spring 2010 Thirty-Six Month stock purchase warrant by a period of one year, such that the warrants now expire on January 15, 2014 (see Note 7).


On February 6, 2012, a holder of a convertible promissory note issued in our Spring 2010 Offering (see Note 5) elected to convert the principal balance of $25,000 into 43,478 shares of our common stock, at a conversion rate set forth in the notes of $0.575 per share.


During 2012, interest of $84,845 related to these notes was converted into 201,053 shares.


Spring 2009 Notes


On their June 1, 2012 maturity date, we elected to convert the remaining aggregate principal balance of $670,410 of our Spring 2009 Notes) into an aggregate 1,218,927 shares of our common stock at a conversion price of $0.55 per share.


On April 16, 2011, the holder of a note issued in our Spring 2009 Offering elected to convert the principal balance of $11,000 into an aggregate 20,000 shares of our common stock, at a conversion price of $0.55.


During 2012, interest of $56,041 related to these notes was converted into 101,893 shares.