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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2012
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Schedule of antidilutive securities excluded from computation of earnings per share
                                 
    Three Months Ended     Six Months Ended  
    June 30,
2012
    June 30,
2011
    June 30,
2012
    June 30,
2011
 

Average market price during the period

  $ 3.05     $ 3.51     $ 3.11     $ 3.29  
         

In the money potential common shares from options excluded

    213,311       249,392       239,119       202,867  

In the money potential common shares from warrants excluded

    1,045,869       1,553,474       1,119,803       1,330,160  
                                 
    Three Months Ended     Six Months Ended  
    June 30,
2012
    June 30,
2011
    June 30,
2012
    June 30,
2011
 

Out of the money options and warrants excluded:

                               

Stock options with an exercise price of $3.30 per share

    100,000       —         100,000       —    

Stock options with an exercise price of $3.50 per share

    245,000       —         245,000       875,000  

Stock options with an exercise price of $3.51 per share

    984,670       984,670       984,670       984,670  

Stock options with an exercise price of $3.53 per share

    211,900       211,900       211,900       211,900  

Stock options with an exercise price of $4.00 per share

    52,500       52,500       52,500       52,500  

Stock options with an exercise price of $5.00 per share

    300,000       650,000       300,000       650,000  

Stock options with an exercise price of $7.00 per share

    100,000       100,000       100,000       100,000  

Warrants with an exercise price of $3.60 per share

    1,562,500       —         1,562,500       —    

Warrants with an exercise price of $5.25 per share

    100,000       100,000       100,000       100,000  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total anti-dilutive warrants and options excluded from EPS

    3,656,570       2,099,070       3,656,570       2,974,070  
   

 

 

   

 

 

   

 

 

   

 

 

 
                                 
    Three Months Ended     Six Months Ended  
    June 30,
2012
    June 30,
2011
    June 30,
2012
    June 30,
2011
 

Potential common shares from Convertible Preferred Stock excluded from EPS

    346,400       3,146,400       346,400       3,146,400  
   

 

 

   

 

 

   

 

 

   

 

 

 
                                 
    Three Months Ended     Six Months Ended  
    June 30,
2012
    June 30,
2011
    June 30,
2012
    June 30,
2011
 

Potential common shares from unvested restricted stock awards excluded from EPS

    467,164       495,548       463,234       416,871  
   

 

 

   

 

 

   

 

 

   

 

 

 
Reconciliation of the numerators and denominators used in computing basic and diluted net income per share
                                 
    Three Months Ended     Six Months Ended  
    June 30,
2012
    June 30,
2011
    June 30,
2012
    June 30,
2011
 

Net loss

  $ (15,590,350   $ (1,930,553   $ (21,072,148   $ (7,104,588

Accretion of Series G Preferred Stock

    —         (1,564,578     —         (1,987,977

Fair market value of warrants issued to Series G Preferred Stock stockholders

    —         (906,150     —         (906,150

Cumulative dividends on Series G Preferred Stock

    (5,000     (105,000     (15,000     (238,479
   

 

 

   

 

 

   

 

 

   

 

 

 

Numerator, basic and diluted net income (loss) available to stockholders

  $ (15,595,350   $ (4,506,281   $ (21,087,194   $ (10,237,194
   

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

                               

Shares used in computation – basic:

                               

Weighted average common shares outstanding

    73,234,692       67,873,487       73,199,914       67,512,776  
   

 

 

   

 

 

   

 

 

   

 

 

 

Shares used in computation – diluted:

                               

Weighted average common shares outstanding

    73,234,692       67,873,487       73,199,914       67,512,776  

Dilutive effect of potential common shares outstanding

    —         —         —         —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Shares used in computing diluted net income per share

    73,234,692       67,873,487       73,199,914       67,512,776  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss per share – basic

  $ (0.21   $ (0.07   $ (0.29   $ (0.15

Net loss per share – diluted

  $ (0.21   $ (0.07   $ (0.29   $ (0.15