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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative [Line Items]

Components of derivative liabilities


		March 31, 2013				December 31, 2012
Derivative liabilities:
Embedded derivatives derived from:
Senior Convertible Notes		$	1,732,257			$	1,529,583

Warrant derivatives
Senior Convertible Notes			1,973,281				1,921,094
Series G Convertible Preferred Stock			2,313,075				1,905,526

			4,286,356				3,826,620

Total derivative liabilities		$	6,018,613			$	5,356,203


		March 31, 2013				December 31, 2012
Common shares linked to derivative liabilities:
Embedded derivatives:
Senior Convertible Notes			3,456,315				4,247,343

Warrant derivatives
Senior Convertible Notes			1,562,500				1,562,500
Series G Convertible Preferred Stock			2,250,000				2,250,000

			3,812,500				3,812,500

Total common shares linked to derivative liabilities			7,268,815				8,059,843

Changes in fair values of derivative liabilities


		Three months ended March 31,
		2013				2012
Derivative income (expense):
Unrealized gains (losses) from fair value changes:
Senior Convertible Notes		$	(640,562	)		$	511,897
Series G Convertible Preferred Stock			—				(38,927	)
Warrant derivatives			(459,737	)			(349,901	)

			(1,100,299	)			123,069
Redemptions of Senior Convertible Notes			437,889				—

Total derivative income (expense)		$	(662,410	)		$	123,069

Derivatives Warrant [Member]

Derivative [Line Items]

Significant assumptions utilized in valuation technique


		March 31,				December 31, 2012
		2013		2012		December 31, 2012
Linked common shares		1,725,000		1,800,000		1,725,000
Quoted market price on valuation date		$3.26		$3.11		$2.97
Contractual exercise rate		$2.4648		$2.50		$2.4648
Term (years)		0.53		1.53		0.78
Range of market volatilities		33.8% - 44.4%		40.8% - 77.7%		33.1% - 49.17%
Risk free rates using zero coupon US Treasury Security rates		0.04% - 0.11%		0.05% - 0.26%		0.02% - 0.11%


		March 31,				December 31, 2012
		2013		2012		December 31, 2012
Linked common shares		525,000		525,000		525,000
Quoted market price on valuation date		$3.26		$3.11		$2.97
Contractual exercise rate		$2.4648		$2.75		$2.4648
Term (years)		1.04		2.04		1.28
Range of market volatilities		34.1% - 45.3%		42.7% - 78.3%		33.8% - 63.6%
Risk free rates using zero coupon US Treasury Security rates		0.04% - 0.14%		0.09% - 0.33%		0.02% - 0.16%


		March 31,				December 31, 2012
		2013		2012		December 31, 2012
Linked common shares		1,562,500		1,302,083		1,562,500
Quoted market price on valuation date		$3.26		$3.11		$2.97
Contractual exercise rate		$3.60		$4.32		$3.60
Term (years)		4.10		5.11		4.35
Range of market volatilities		34.1% - 67.7%		49.0% - 77.4%		39.2% - 70.2%
Risk free rates using zero coupon US Treasury Security rates		0.07% - 0.57%		0.07% - 1.04%		0.05% - 0.54%
Custom lattice variable: Probability of exercisability (434,027 linked common shares)		—		90%		—

Changes in fair value inputs and assumptions


		Three months ended March 31,
		2013				2012
Balances at January 1		$	3,826,619			$	4,653,160
Changes in fair value inputs and assumptions reflected in income			459,737				349,901

Balances at March 31		$	4,286,356			$	5,003,061

Compound Embedded Derivative [Member]

Derivative [Line Items]

Changes in fair value inputs and assumptions


		Three Months ended March 31,
		2013				2012
Balances at January 1		$	1,529,583			$	2,680,133
Issuances			—
Expirations from redemptions of host contracts reflected in income			(437,889	)			—
Changes in fair value inputs and assumptions reflected in income			640,563				(472,970	)

Balances at March 31		$	1,732,257			$	2,207,163

Senior Convertible Notes [Member]

Derivative [Line Items]

Significant assumptions utilized in valuation technique


		March 31, 2013		December 31, 2012
Quoted market price on valuation date		$3.26		$2.97
Contractual conversion rate		$3.17		$3.74
Contractual term to maturity		1.08 Years		1.33 Years
Implied expected term to maturity		0.98 - 0.99 Years		1.24 Years
Market volatility:
Range of volatilities		33.6% - 72.0%		31.3% - 64.03%
Range of equivalent volatilities		37.3% - 47.9%		38.6% - 45.0%
Contractual interest rate		8.0% - 9.0%		8.0% - 9.0%
Range of equivalent market risk adjusted interest rates		8.02% - 9.08%		9.0%-9.1%
Range of equivalent credit risk adjusted yields		1.47% - 1.13%		0.94% - 1.03%
Risk-free rates		0.04% - 0.14%		0.02% - 0.16%

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.

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