XML 67 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 8 - Warrants
 12 Months Ended
Dec. 31, 2014
Warrants and Rights Note Disclosure [Abstract]  
Warrants

NOTE 8 — Warrants

 

The Company has the following outstanding warrants to purchase common stock at December 31, 2014:

 

Reason  Number
of Shares		  Price Per
Share		  Issue Date  Expiration
Date
Common stock financing    35,775   $1.80   May 2009  June 2016
Senior convertible note financing
(fully converted in 2011) (a) 		   277,600   $1.25   Nov 2010  May 2016
    313,375            

 

The Company had the following outstanding warrants to purchase common stock at December 31, 2013:

 

Reason  Number
of Shares		  Price Per
Share		  Issue Date  Expiration
Date
Common stock financing    57,776   $1.80   May 2009  May 2014
Senior convertible note financing
(fully converted in 2011) (a) 		   1,073,600   $1.25   Nov 2010  May 2016
    1,131,376            

(a)In conjunction with a settlement agreement, the warrant was amended on December 31, 2013 to reset the conversion price under the anti-dilution terms of the warrant from the original $2.44 per share to $1.25 per share, and to increase the common shares issuable upon conversion from 550,000 shares to 976,000 shares (see “Legal Matters” within “NOTE 6 — Commitments and Contingencies” for more information).