XML 28 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
3 Months Ended
Mar. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events

Note 10. Subsequent Events

In April and May 2012, an additional 1,800,000 Series B Warrants were exercised and we received gross proceeds of $2,250,000. For the exercise of these warrants, we issued 1,800,000 shares of our common stock and 1,800,000 Series A Warrants. The Series A Warrants have an initial exercise price of $1.40 per share and will expire on the fifth anniversary of the closing date of the initial financing transaction in December 2011.

 

Of the 8,000,000 Series B Warrants issued as part of our December 2011 financing, an aggregate of 2,700,000 were exercised since the financing and the unexercised warrants all expired by their terms on May 2, 2012.