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Note 6 - Conversion of Notes
12 Months Ended
Dec. 31, 2013
Conversion Of Spring 2008 Notes [Abstract]  
Conversion Of Spring 2008 Notes [Text Block]

Note 6. Conversion of Notes


As of December 21, 2012 each of our convertible Notes and related accrued and unpaid interest were converted into shares of our common stock at a conversion rate set forth in the respective convertible Note offering. There are no outstanding convertible Notes as of December 31, 2013.


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, 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.


On February 6, 2012, a holder of a convertible promissory note issued in our Spring 2010 Offering 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.


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


All of these offerings and sales were made in reliance on the exemption from registration contained in Section 4(2) of the Securities Exchange Act and/or Regulation D promulgated thereunder as not involving a public offering of securities.