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Convertible Preferred Stock
6 Months Ended
Jun. 30, 2012
Convertible Preferred Stock [Abstract]  
Convertible Preferred Stock

7. Convertible Preferred Stock

The Company’s Series F Convertible, Redeemable Preferred Stock (“Series F Stock”) can be converted into 25 shares of common stock pursuant to the conversion terms of the Series F Stock contained in the Certificate of Designation for the Series F Stock. Each share of the Series F Stock was sold to Robert Gipson during 2009 at a price per share of $25 yielding aggregate proceeds to the Company in 2009 of $4,600,000. As of June 30, 2012, 12,000 shares of Series F Stock were outstanding and held by Robert Gipson.