Stock Purchase Warrants (Tables)

9 Months Ended

Sep. 30, 2012

Stock Purchase Warrants [Abstract]

Schedule of Share-based Payment Fair Value Assumptions Fair Value Measurement of Warrants [Table Text Block]

The assumptions used by the Company are summarized in the following table:

Exercise price	$	2.20
Expected dividends		0	%
Expected volatility		110	%
Risk free interest rate		0.26	%
Expected life of warrant		2 years

The assumptions used by the Company are summarized in the following table:

Exercise price	$	1.14
Expected dividends		0	%
Expected volatility		174	%
Risk free interest rate		0.71	%
Expected life of warrant		5 years

Schedule of Other Share-based Compensation, Activity [Table Text Block]

A summary of warrant activities as of September 30, 2012, and for the year ended December 31, 2011, is as follows:

	Warrants			Weighted Average Exercise Price
Balance – December 31, 2010		1,131,078		$	3.49
Granted		2,272,963			1.25
Exercised		(15,615	)		1.03
Expired		(129,240	)		2.08
Balance – December 31, 2011		3,259,186			1.99
Granted		350,000			1.90
Exercised		(1,768,167	)		1.11
Cancelled by cashless exercise		(516,917	)		1.40
Balance – September 30, 2012 – outstanding		1,324,102		$	3.25
Balance – September 30, 2012 – exercisable		1,124,102		$	3.44

Schedule of Other Share-based Compensation Warrants Outstanding [Table Text Block]

The warrants outstanding as of September 30, 2012, are as follows:

Exercise Price		Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
$	1.14		100,000		100,000		4.34 years		94,000
$	1.32		18,182		18,182		3.25 years		14,000
$	2.20		250,000		50,000		1.45 years		-
$	2.22		517,257		517,257		4.16 years		-
$	3.30		61,207		61,207		2.66 years		-
$	3.75		50,000		50,000		3.38 years		-
$	6.36		327,456		327,456		0.11 years		-
			1,324,102		1,124,102		2.58 years	$	108,000