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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2013
Components of Derivative Liabilities | The following tables summarize the components of our derivative liabilities and linked common shares as of December 31, 2013 and 2012.
|  | December 31, |
|  | 2013 |  |  | 2012 |
Derivative liabilities: |  |  |  |  |  |  |  |
Embedded derivatives derived from: |  |  |  |  |  |  |  |
Senior Convertible Notes |  | $ | 47,243 |  |  | $ | 1,529,583 |
Series G Convertible Preferred Stock |  |  | — |  |  |  | — |
|  |  | 47,243 |  |  |  | 1,529,583 |
Warrant derivatives |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 840,000 |  |  |  | 1,921,094 |
Series G Convertible Preferred Stock |  |  | 83,580 |  |  |  | 1,905,526 |
Warrant derivatives |  |  | 923,580 |  |  |  | 3,826,620 |
Total derivative liabilities |  | $ | 970,823 |  |  | $ | 5,356,203 |
|  | December 31, |
|  | 2013 |  |  | 2012 |
Common shares linked to derivative liabilities: |  |  |  |  |  |  |  |
Embedded derivatives: |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 1,729,647 |  |  |  | 4,247,343 |
Series G Convertible Preferred Stock |  |  | — |  |  |  | — |
|  |  | 1,729,647 |  |  |  | 4,247,343 |
Warrant derivatives |  |  |  |  |  |  |  |
Senior Convertible Notes |  |  | 1,562,500 |  |  |  | 1,562,500 |
Series G Convertible Preferred Stock |  |  | 525,000 |  |  |  | 2,250,000 |
|  |  | 2,087,500 |  |  |  | 3,812,500 |
Total common shares linked to derivative liabilities |  |  | 3,817,147 |  |  |  | 8,059,843 |
Changes in Fair Values of Derivative Liabilities |
The amounts that were reflected in our income related to our derivatives for the years then ended: |  | Years ended December 31, |
|  | 2013 |  |  | 2012 |
Derivative income (expense): |  |  |  |  |  |  |  |
Unrealized gains (losses) from fair value changes: |  |  |  |  |  |  |  |
Senior Convertible Notes |  | $ | 593,001 |  |  | $ | 1,747,133 |
Series G Convertible Preferred Stock |  |  | — |  |  |  | (115,955 | )
Warrant derivatives |  |  | 1,980,164 |  |  |  | 1,071,583 |
|  |  | 2,573,165 |  |  |  | 2,702,761 |
Redemptions of Series G Convertible Preferred Stock |  |  | — |  |  |  | 393,166 |
Redemptions of Senior Convertible Notes |  |  | 889,340 |  |  |  | 536,003 |
Exercise of Warrants |  |  | 922,875 |  |  |  | — |
Total derivative income (expense) |  | $ | 4,385,380 |  |  | $ | 3,631,930 |
Senior Convertible Note [Member] |
Significant Assumptions Utilized in Valuation Technique | Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the compound embedded derivative that has been bifurcated from our Senior Convertible Note and classified in liabilities:
|  | December 31, 2013 |  | December 31, 2012
Quoted market price on valuation date |  | $2.02 |  | $2.97
Contractual conversion rate |  | $3.17 |  | $3.74
Range of effective contractual conversion rates |  | — |  | —
Contractual term to maturity |  | 0.33 Years |  | 1.33 Years
Implied expected term to maturity |  | 0.33 Years |  | 1.24 Years
Market volatility: |  |  |  |
Range of volatilities |  | 47.4% – 91.2% |  | 31.3% – 64.03%
Range of equivalent volatilities |  | 59.9% – 69.9% |  | 38.6% – 45.0%
Contractual interest rate |  | 8.0 – 9.0% |  | 8.0 – 9.0%
Range of equivalent market risk adjusted interest rates |  | 8.08%-9.08% |  | 9.0%-9.1%
Range of equivalent credit risk adjusted yields |  | 0.67% |  | 0.94% – 1.03%
Risk-free rates |  | 0.01% – 0.07% |  | 0.02% – 0.16%
Compound Embedded Derivative [Member] |
Changes in Fair Value Inputs and Assumptions | The following table reflects the issuances of compound embedded derivatives, redemptions and changes in fair value inputs and assumptions related to the compound embedded derivatives during the years ended December 31, 2013 and 2012.
|  | Years ended December 31, |
|  | 2013 |  |  | 2012 |
Balances at January 1 |  | $ | 1,529,583 |  |  | $ | 2,680,133 |
Issuances: |  |  |  |  |  |  |  |
Senior Convertible Note Financing |  |  | — |  |  |  | 1,291,298 |
Expirations from redemptions of Series G Convertible Preferred Stock |  |  | (889,340 | ) |  |  | (810,669 | )
Changes in fair value inputs and assumptions reflected in income |  |  | (593,001 | ) |  |  | (1,631,179 | )
Balances at December 31 |  | $ | 47,242 |  |  | $ | 1,529,583 |
Warrant Derivatives [Member] |
Significant Assumptions Utilized in Valuation Technique | Significant assumptions utilized in the Binomial Lattice process are as follows as of December 31, 2013 and 2012:
|  | December 31,
|  | 2013 |  |  | 2012
Linked common shares |  |  | — |  |  | 1,725,000
Quoted market price on valuation date |  |  | — |  |  | $2.97
Contractual exercise rate |  |  | — |  |  | $2.4648
Term (years) |  |  | — |  |  | 0.78
Range of market volatilities |  |  | — |  |  | 33.1% – 49.17%
Risk free rates using zero coupon US Treasury Security rates |  |  | — |  |  | 0.02% –0.11%
|  | December 31,
|  | 2013 |  | 2012
Linked common shares |  | 525,000 |  | 525,000
Quoted market price on valuation date |  | $2.02 |  | $2.97
Contractual exercise rate |  | $2.3793 |  | $2.4648
Term (years) |  | 0.28 |  | 1.28
Range of market volatilities |  | 50.1% – 88.3% |  | 33.8% – 63.6%
Risk free rates using zero coupon US Treasury Security rates |  | 0.01% – 0.07% |  | 0.02% – 0.16%
|  | December 31,
|  | 2013 |  | 2012
Linked common shares |  | 1,562,500 |  | 1,562,500
Quoted market price on valuation date |  | $2.02 |  | $2.97
Contractual exercise rate |  | $3.60 |  | $3.60
Term (years) |  | 3.35 |  | 4.35
Range of market volatilities |  | 51.1% – 78.2% |  | 39.2% – 70.2%
Risk free rates using zero coupon US Treasury Security rates |  | 0.07% – 0.78% |  | 0.05% – 0.54%
Changes in Fair Value Inputs and Assumptions | The following table reflects the issuances of derivative warrants and changes in fair value inputs and assumptions related to the derivative warrants during the year ended December 31, 2013 and 2012.
|  | Years ended December 31, |
|  | 2013 |  |  | 2012 |
Balances at January 1 |  | $ | 3,826,619 |  |  | $ | 4,653,160 |
Issuances: |  |  |  |  |  |  |  |
Series G Convertible Preferred Stock Financing |  |  | — |  |  |  | — |
Senior Convertible Note Financing |  |  | — |  |  |  | 363,542 |
Exercises: |  |  |  |  |  |  |  |
Series G Convertible Preferred Stock Financing |  |  | (922,875 | ) |  |  | (118,500 | )
Changes in fair value inputs and assumptions reflected in income |  |  | (1,980,164 | ) |  |  | (1,071,583 | )
Balances at December 31 |  | $ | 923,580 |  |  | $ | 3,826,619 |

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