XML 21 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Mortgage and Loans Payable (Tables)
 9 Months Ended
Sep. 30, 2012
Mortgage and Loans Payable [Abstract]  
Schedule of consolidated debt

The Company’s consolidated debt consisted of the following at September 30, 2012 and December 31, 2011:

 

                 
    September 30,
2012		     December 31,
2011		  

Term loan

   $ 5,000,000     $ 3,000,000  

Project term loan

     10,000,000       —    

Face value $10,000,000, 8% Convertible Senior Note Payable

     7,558,049       5,316,328  

Face value $8,000,000, 9% Convertible Senior Note Payable

     4,830,825       —    

Mortgage payable

     1,995,332       2,176,727  
   

 

 

    

 

 

  
    $ 29,384,206     $ 10,493,055  
   

 

 

    

 

 

  
Schedule of allocation of cash proceeds to derivative components at their fair values

Based on the previous conclusions, we allocated the cash proceeds first to the derivative components at their fair values (see NOTE M) with the residual allocated to the host debt contract, as follows:

 

         
    Allocation  

Initial Note

   $ 4,910,862  

Compound embedded derivative

     2,989,537  

Derivative warrants

     2,054,601  
   

 

 

  
    $ 9,955,000  
   

 

 

  
Schedule of allocation of cash proceeds related to additional financing

Allocation of the cash proceeds related to the Additional Financing was as follows:

 

         
    Allocation  

Additional Note

   $ 6,339,642  

Compound embedded derivative

     1,291,298  

Derivative warrants

     363,542  
   

 

 

  
    $ 7,994,482