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STOCKHOLDERS' EQUITY (Table)

9 Months Ended

Sep. 30, 2012

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table summarizes information with regard to outstanding warrants to purchase common stock as of September 30, 2012.

Offering		Number of Shares Issuable Upon Exercise of Outstanding Warrants				Exercise Price				Expiration Date

June 2012 Public Offering			2,981,440			$	1.25			June 13, 2017
June 2012 Public Offering (2)			5,255,000			$	1.00			October 11, 2012
December 2011 Underwritten Offering			9,248,334			$	0.60			December 6, 2016
April 2011 Private Placement			6,058,811			$	0.75			March 31, 2016
Legacy warrants (1)			27,310			$	0.60			July 27, 2015
Legacy warrants			105,040			$	16.065			July 27, 2015
Legacy warrants			91,524				$ 99.45-100.98			December 31, 2015

Total			23,767,459

(1)

The exercise prices of these warrants are subject to adjustment for “down-rounds” and have been accounted for as derivative instruments as described in Note 2.

(2)

As described above, during October 2012, on or before the expiration of these warrants, the company received warrant exercises with respect to 937,500 shares of common stock underlying the warrants, and received aggregate cash proceeds of $937,500 in respect of those exercises (see Note 10). The balance of the warrants expired.

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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