Note 8 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following table sets forth by level within the fair value hierarchy our financial liabilities that were accounted for at fair value on a recurring basis as of December 31, 2013:

	Fair Value Measurements at December 31, 2013
	Quoted Prices
	In Active		Significant
	Markets for		Other		Significant		Total
	Identical		Observable		Unobservable		Carrying
	Assets		Inputs		Inputs		Value
Description	(Level 1)		(Level 2)		(Level 3)
Derivative liability – agent warrants	$	-	$	-	$	121,566	$	121,566
Derivative liability – tainted warrants		-		-		1,092,505		1,092,505
Derivative liability – convertible debt		-		-		167,048		167,048
Derivative liability – bridge loan		-		-		1,559,697		1,559,697
Derivative liability – Vidalia warrants		-		-		1,534,896		1,534,896
Total		-		-	$	4,475,712	$	4,475,712
Current portion		-		-		474,895		474,895
Long-term portion	$	-	$	-	$	4,000,817	$	4,000,817

	Fair Value Measurements at December 31, 2013
	Quoted Prices
	In Active		Significant
	Markets for		Other		Significant		Total
	Identical		Observable		Unobservable		Carrying
	Assets		Inputs		Inputs		Value
Description	(Level 1)		(Level 2)		(Level 3)
Commodity derivative	$	-	$	146,420	$	-	$	146,420
Total	$	-	$	146,420	$	-	$	146,420

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Observable Input Reconciliation

The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as level 2 in the fair value hierarchy during the period from October 9, 2013 to December 31, 2013:

Beginning balance	$	-
Total loss		-
Settlements		-
Additions		146,420
Transfers		-
Ending balance	$	146,420
Change in unrealized gain included in earnings relating to derivatives still held as of December 31, 2013	$	146,420

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as level 3 in the fair value hierarchy during the period from October 9, 2013 to December 31, 2013:

Beginning balance	$	1,066,697
Unrealized loss		1,192,523
Settlements		-
Additions		2,216,492
Transfers		-
Ending balance	$	4,475,712
Change in unrealized losses included in earnings relating to derivatives still held as of December 31, 2013	$	(1,192,523	)