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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2012
Derivative [Line Items] |
Components of derivative liabilities |
|  | June 30, 2012 |  |  | December 31, 2011 |
Derivative liabilities: |  |  |  |  |  |  |  |
Embedded derivatives derived from: |  |  |  |  |  |  |  |
Senior Convertible Notes |  | $ | 4,912,547 |  |  | $ | 2,521,422 |
Series G Convertible Preferred Stock |  |  | 286,335 |  |  |  | 158,711 |
|  |  | 5,198,882 |  |  |  | 2,680,133 |
Warrant derivatives |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 3,191,407 |  |  |  | 1,898,785 |
Series G Convertible Preferred Stock |  |  | 3,687,675 |  |  |  | 2,754,375 |
Warrant derivatives |  |  | 6,879,082 |  |  |  | 4,653,160 |
Total derivative liabilities |  | $ | 12,077,964 |  |  | $ | 7,333,293 |
Common shares linked to derivative liabilities: |  |  |  |  |  |  |  |
Embedded derivatives: |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 5,305,800 |  |  |  | 2,673,797 |
Series G Convertible Preferred Stock |  |  | 140,000 |  |  |  | 140,000 |
|  |  | 5,445,800 |  |  |  | 2,813,797 |
Warrant derivatives |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 1,562,500 |  |  |  | 1,302,083 |
Series G Convertible Preferred Stock |  |  | 2,325,000 |  |  |  | 2,325,000 |
|  |  | 3,887,500 |  |  |  | 3,627,083 |
Total common shares linked to derivative liabilities |  |  | 9,333,300 |  |  |  | 6,440,880 |
Changes in fair values of derivative liabilities |
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Derivative income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gains (losses) from fair value changes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior Convertible Notes |  | $ | (1,611,725 | ) |  | $ | — |  |  | $ | (1,099,828 | ) |  | $ | — |
Series G Convertible Preferred Stock |  |  | (88,697 | ) |  |  | 476,637 |  |  |  | (127,624 | ) |  |  | (445,347 | )
Warrant derivatives |  |  | (1,512,479 | ) |  |  | 227,925 |  |  |  | (1,862,380 | ) |  |  | (139,275 | )
Total derivative income (expense) |  | $ | (3,212,901 | ) |  | $ | 704,562 |  |  | $ | (3,089,832 | ) |  | $ | (584,622 | )
Significant assumptions utilized in valuation technique |
|  | June 30, 2012 |  | December 31, 2011
Quoted market price on valuation date |  | $3.725 |  | $2.74
Contractual conversion rate |  | $3.17 - $3.74 |  | $3.74
Range of effective contractual conversion rates |  | $3.17 - $4.07 |  | $2.74 - $2.89
Contractual term to maturity |  | 1.84 - 1.98 Years |  | 2.33 Years
Implied expected term to maturity |  | 1.47 - 1.49 Years |  | 2.06 Years
Market volatility: |  |  |  |
Range of volatilities |  | 28.8% - 73.7% |  | 55.6% - 101.8%
Range of equivalent volatilities |  | 44.4% - 64.3% |  | 78.9% - 84.3%
Contractual interest rate |  | 8.0% - 9.0% |  | 8.0%
Range of equivalent market risk adjusted interest rates |  | 8.0% - 9.1% |  | 8.0%-8.1%
Range of equivalent credit risk adjusted yields |  | 1.35% - 1.55% |  | 3.1% - 3.5%
Risk-free rates |  | 0.04% - 0.21% |  | 0.01% - 0.25%
|  | June 30, |  | December 31,
|  | 2012 |  | 2011 |  | 2011
Quoted market price on valuation date |  | $3.725 |  | $3.13 |  | $2.74
Contractual conversion rate |  | $1.78 |  | $1.78 |  | $1.78
Implied expected term |  | 0.33 Years |  | 0.74 Years |  | 0.46 Years
Market volatility: |  |  |  |  |  |
Range of volatilities |  | 46.5% - 72.9% |  | 61.8%-71.9% |  | 49.5% - 101.8%
Equivalent volatility |  | 51.7% |  | 67.4% |  | 74.1%
Market risk adjusted interest rate: |  |  |  |  |  |
Range of rates (including premiums) |  | 18.0% - 35.0% |  | 8.0%-32.0% |  | 13.0% - 32.0%
Equivalent market risk adjusted interest rate |  | 20.3% |  | 12.4% |  | 15.3%
Credit risk adjusted yield rate: |  |  |  |  |  |
Range of rates |  | 1.4% - 3.3% |  | 2.2%-3.3% |  | 3.1% - 3.7%
Equivalent credit-risk adjusted yield rate |  | 1.4% |  | 2.3% |  | 3.1%
Risk free rates using zero coupon US Treasury |  |  |  |  |  |
Security rates: |  |  |  |  |  |
Range of rates |  | 0.04% - 0.10% |  | 0.19%-0.81% |  | 0.12% - 0.25%
|  | June 30, |  | December 31,
|  | 2012 |  | 2011 |  | 2011
Linked common shares |  | 1,800,000 |  | 1,800,000 |  | 1,800,000
Quoted market price on valuation date |  | $3.725 |  | $3.13 |  | $2.74
Contractual exercise rate |  | $2.50 |  | $2.50 |  | $2.50
Term (years) |  | 1.28 |  | 2.28 |  | 1.78
Range of market volatilities |  | 48.7% - 73.1% |  | 61.0% - 72.8% |  | 56.8% - 101.6%
Risk free rates using zero coupon US Treasury Security rates |  | 0.04% - 0.27% |  | 0.03% - 0.81% |  | 0.02% - 0.25%
|  | June 30, |  | December 31,
|  | 2012 |  | 2011 |  | 2011
Linked common shares |  | 525,000 |  | 525,000 |  | 525,000
Quoted market price on valuation date |  | $3.725 |  | $3.13 |  | $2.74
Contractual exercise rate |  | $2.75 |  | $2.50 |  | $2.75
Term (years) |  | 1.79 |  | 2.28 |  | 2.28
Range of market volatilities |  | 48.9% - 72.2% |  | 61.0% - 72.8% |  | 56.9% - 94.0%
Risk free rates using zero coupon US Treasury Security rates |  | 0.04% - 0.27% |  | 0.03% - 0.81% |  | 0.02% - 0.25%
|  | June 30, 2012 |  | December 31, 2011
Linked common shares |  | 1,562,500 |  | 1,302,083
Quoted market price on valuation date |  | $3.725 |  | $2.74
Contractual exercise rate |  | $3.60 |  | $4.32
Term (years) |  | 4.86 |  | 5.35
Range of volatilities |  | 48.8% - 72.5% |  | 67.2%-87.5%
Risk free rates using zero coupon US Treasury Security rates |  | 0.09% - 0.72% |  | 0.02% - 0.83%
Custom lattice variable: Probability of exercisability (434,027 linked common shares) |  | — |  | 60.0%
Changes in fair value inputs and assumptions |
|  | Six Months ended June 30, |
|  | 2012 |  |  | 2011 |
Balances at January 1 |  | $ | 2,680,133 |  |  | $ | 4,075,344 |
Issuances: |  |  | 1,291,298 |  |  |  |  |
Expirations from redemptions of host contracts reflected in income |  |  | — |  |  |  | (676,718 | )
Changes in fair value inputs and assumptions reflected in income |  |  | 1,227,451 |  |  |  | 1,122,065 |
Balances at June 30 |  | $ | 5,198,882 |  |  | $ | 4,520,691 |
|  | Six months ended June 30, |
|  | 2012 |  |  | 2011 |
Balances at January 1 |  | $ | 4,653,160 |  |  | $ | 2,287,800 |
Issuances |  |  | 363,542 |  |  |  | 906,150 |
Changes in fair value inputs and assumptions reflected in income |  |  | 1,862,380 |  |  |  | 139,275 |
Balances at June 30 |  | $ | 6,879,082 |  |  | $ | 3,333,225 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -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. + Details
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