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22. Subsequent Events | 12 Months Ended
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Dec. 31, 2012
Subsequent Events [Abstract] |
NOTE 22 - Subsequent Events | Subsequent to December 31, 2012, the holders of 10,666 shares of Series D Preferred converted these shares into 927,736 shares of common stock: 739,920 shares for the conversion of Series D, 179,722 shares for accrued dividends and 8,094 shares for the price protection feature described in footnote 16. Following this conversion, there are 8,333 shares remaining of Series D Preferred that can currently be converted into 649,215 shares of common stock: 499,980 shares for the conversion of Series D, 136,216 shares for accrued dividends and 13,019 shares for the price protection feature described in footnote 16. On March 5, 2013, the Company issued a promissory note for $200,000. This note does not bear interest and matures on the earlier of September 5, 2013 or the receipt by the Company of $200,000 of net proceeds from sales of equity. On April 9, 2013, the Company sold 1,666,667 shares of its common stock to a private investor for $50,000, or $0.03 a share. The Company is attempting to obtain waivers from holders of Series E Preferred Stock for the full-ratchet anti-dilution feature for the conversion price and warrants. If the Company is not successful in obtaining these waivers, this full-ratchet anti-dilution feature will result in an additional 283,500,000 shares of common stock issuable upon conversion of Series E Preferred Stock, the repricing of Series E Preferred Stock warrants from $0.30 a share to $0.03 a share and the issuance of an additional 854,700,000 warrants to buy common stock. While the Company believes it can obtain these waivers, there can be no assurance that we will be able to do so. If these waivers are not obtained, the total of shares required to be reserved for the Series E Preferred Stock conversion and warrants is 1,138,200,000. The Company currently has authorized shares of 500,000,000 and would need to either increase the number of authorized shares or do a reverse stock split to be able to reserve enough shares in such event.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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