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Net Loss Per Common Share | 12 Months Ended
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Dec. 31, 2012
Net Loss Per Common Share [Abstract] |
Net Loss Per Common Share | 18. Net Loss Per Common Share Basic earnings per share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if stock options, warrants, and convertible securities to issue common stock were exercised or converted into common stock. The following is a reconciliation of the numerator and denominator used in the basic and diluted computation of net loss per share:
|  | Year Ended |
|  | December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (30,762,273 | ) |  | $ | (11,606,231 | ) |  | $ | (60,326,419 | )
Preferred stock dividends |  |  | (4,370,247 | ) |  |  | (4,696,766 | ) |  |  | (1,276,902 | )
Loss available to common shareholders |  | $ | (35,132,520 | ) |  | $ | (16,302,997 | ) |  | $ | (61,603,321 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average shares outstanding |  |  | 40,497,098 |  |  |  | 24,640,774 |  |  |  | 19,383,007 |
Effect of dilutive securities |  |  | - |  |  |  | - |  |  |  | - |
Diluted weighted average shares outstanding |  |  | 40,497,098 |  |  |  | 24,640,774 |  |  |  | 19,383,007 |
Net loss per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.87 | ) |  | $ | (0.66 | ) |  | $ | (3.18 | )
Diluted |  | $ | (0.87 | ) |  | $ | (0.66 | ) |  | $ | (3.18 | )
The following table includes the number of common stock equivalent shares that are not included in the computation of diluted loss per share, because the Company has a net loss and the inclusion of such shares would be antidilutive.
|  | Shares |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Stock options |  |  | 50,000 |  |  |  | 450,000 |  |  |  | 450,000 |
Convertible preferred stock |  |  | 61,405,753 |  |  |  | 63,147,728 |  |  |  | 67,989,944 |
Warrants |  |  | 2,146,000 |  |  |  | 2,333,500 |  |  |  | 2,333,500 |
Restricted stock |  |  | 5,024,400 |  |  |  | 4,610,000 |  |  |  | - |
Other |  |  | - |  |  |  | - |  |  |  | 388,581 |
|  |  | 68,626,153 |  |  |  | 70,541,228 |  |  |  | 71,162,025 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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