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Preferred Stock
9 Months Ended
Sep. 30, 2012
Preferred Stock [Abstract]  
Preferred Stock

7. Preferred Stock

Preferred Stock

As of September 30, 2012, the Company’s Board of Directors is authorized to issue 8,000,000 shares of preferred stock, with a par value of $0.0001 per share, in one or more series, of which 11,000 are designated for Series C-12 Preferred, 22,000 are designated Series C-22 Preferred, 5,134 are designated Series D-12 Preferred, and 10,868 are designated Series D-22 Preferred. During the nine months ended September 30, 2012, 4,021 Series D-12 Warrants were converted into Series D-12 Preferred, by means of a cashless exercise, resulting in the issuance of 3,611 shares of Series D-12 Preferred. Also during the nine months ended September 30, 2012, there have been 16 shares of Series D-1 2 Preferred and 31 shares of Series C-1 2 Preferred converted to common stock. As of September 30, 2012, 5,386 shares of Series C-1 2 Preferred Stock and 3,595 shares of Series D-1 2 were issued and outstanding. As of December 31, 2011, 5,043 shares of Series C-12 Preferred Stock were issued and outstanding.