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Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2013
Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

 

     12 Month
Period Ended
December 31,
2013
    12 Month
Period Ended
December 31,
2012
    12 Month
Period Ended
December 31,
2011
 

Net loss

   $ (10,741,272   $ (18,184,113   $ (16,225,308

Accretion of Series G Preferred Stock

     —          —          (1,987,977

Cumulative dividends on Series G Preferred Stock

     —          (10,000     (409,035

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

     —          —          (906,150

Undeclared cumulative dividends on Series G Preferred Stock in arrears

     —          —          (5,000
  

 

 

   

 

 

   

 

 

 

Numerator, basic and diluted net loss available to stockholders

   $ (10,741,272   $ (18,194,113   $ (19,533,470
  

 

 

   

 

 

   

 

 

 

Denominator:

      

Shares used in computation – basic:

      

Weighted average common shares outstanding

     80,128,827        73,889,112        70,179,935   
  

 

 

   

 

 

   

 

 

 

Shares used in computation – diluted:

      

Weighted average common shares outstanding

     80,128,827        73,889,112        70,179,935   

Dilutive effect of options, warrants and convertible instruments outstanding

     —          —          —     
  

 

 

   

 

 

   

 

 

 

Shares used in computing diluted net loss per share

     80,128,827        73,889,112        70,179,935   
  

 

 

   

 

 

   

 

 

 

Net loss per share – basic and diluted

   $ (0.13   $ (0.25   $ (0.28
  

 

 

   

 

 

   

 

 

 
In the Money Potential Common Shares [Member]
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares, in the table following, represent potential common shares calculated using the treasury stock method from outstanding options and warrants that were excluded from the calculation of Diluted EPS:

 

     2013      2012      2011  

Average market price during the period

   $ 2.96       $ 3.20       $ 2.98   

In the money potential common shares from options excluded

     146,162         275,101         129,793   

In the money potential common shares from warrants excluded

     92,363         1,129,973         959,521   
Convertible Preferred Stock Excluded from EPS [Member]
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from outstanding Convertible Preferred Stock calculated per the if-converted basis having an anti-dilutive effect on diluted earnings per share were excluded from potential common shares as follows:

 

     2013      2012      2011  

Potential common shares from Preferred Stock excluded from computation of diluted earnings per share

     32,400         206,400         346,400   
Unvested Restricted Stock Awards Excluded from EPS [Member]
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares used in the earning per share calculation due to having an anti-dilutive effect are:

 

     2013      2012      2011  

Excluded unvested restricted stock awards

     152,026         177,830         90,033   
Out of Money Potential Common Shares [Member]
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out-of-the-money options and warrants were also excluded from the computation of diluted earnings per share because calculation of the associated potential common shares has an anti-dilutive effect. The following table lists options and warrants that were excluded from diluted EPS.

 

     2013      2012      2011  

Out of the money options and warrants excluded:

        

Stock Options with an exercise price of $3.25 per share

     100,000         —           —     

Stock Options with an exercise price of $3.30 per share

     —           100,000         —     

Stock Options with an exercise price of $3.40 per share

     100,000         —           —     

Stock Options with an exercise price of $3.43 per share

     40,000         —           —     

Stock Options with an exercise price of $3.50 per share

     345,000         245,000         495,000   

Stock Options with an exercise price of $3.51 per share

     —           959,500         984,670   

Stock Options with an exercise price of $3.53 per share

     —           194,100         211,900   

Stock Options with an exercise price of $3.90 per share

     20,000         20,000         —     

Stock Options with an exercise price of $4.00 per share

     52,500         52,500         52,500   

Stock Options with an exercise price of $5.00 per share

     —           200,000         650,000   

Stock Options with an exercise price of $7.00 per share

     —           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 $4.32 per share

     —           —           1,302,083   

Warrants with an exercise price of $5.25 per share

     —           100,000         100,000   
  

 

 

    

 

 

    

 

 

 

Total anti-dilutive warrants and options excluded from EPS

     2,220,600         3,533,600         3,896,153