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Note 10 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

A summary of the fair value of liabilities measured at fair value on a recurring basis follows:

		Fair value at September 30,				Quoted prices in active markets for identical assets/ liabilities				Significant other observable inputs				Significant unobservable inputs
		2013				(Level 1)				(Level 2)				(Level 3)

Derivatives: (1) (2)
Conversion feature liability		$	4,024,558			$	-0-			$	-0-			$	4,024,558
Warrant liability			7,475,176				-0-				-0-				7,475,176
Total of derivative liabilities		$	11,499,734			$	-0-			$	-0-			$	11,499,734

A summary of the fair value of liabilities measured at fair value on a recurring basis follows:

		Fair value at December 31,				Quoted prices in active markets for identical assets/ liabilities				Significant other observable inputs				Significant unobservable inputs
		2012				(Level 1)				(Level 2)				(Level 3)

Derivatives: (1) (2)
Conversion feature liability		$	2,287,323			$	-0-			$	-0-			$	2,287,323
Warrant liability			6,287,598				-0-				-0-				6,287,598
Total of derivative liabilties		$	8,574,921			$	-0-			$	-0-			$	8,574,921

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Significant valuation assumptions of derivative instruments at September 30, 2013
Risk free interest rate		0.13%
Dividend yield		0.00%
Expected volatility	191.87	to	235.24
Expected life (range in years)
Conversion feature liability	0.21	to	2.25
Warrant liability	0.21	to	2.50

Significant valuation assumptions of derivative instruments at December 31, 2012
Risk free interest rate	0.18%	to	0.36%
Dividend yield		0.00%
Expected volatility	218.2%	to	259.1%
Expected life (range in years)
Conversion feature liability	0.25	to	0.96
Warrant liability	0.66	to	3.25

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

		Other income for the nine months ended
		September 30, 2013				September 30, 2012
The net amount of (losses) for the period included in earnings attributable to the unrealized loss from changes in derivative liabilities at the reporting date		$	(2,524,671	)		$	(4,804,260	)

Total unrealized (losses) included in earnings		$	(2,524,671	)		$	(4,804,260	)

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Level 3 financial assets and financial liabilities at fair value
										Net unrealized
										(gains)/losses
										relating to				Net
										instruments				purchases,
		Balance,								still				issuances				Net transfers				Balance,
		beginning				Net realized				held at the				and				in and/or out				end of
		of year				gains/(losses)				reporting date				settlements				of Level 3				period
Period ended September 30, 2013
Derivatives:
Conversion feature liability		$	2,287,323			$	-0-			$	1,737,235			$	-0-			$	-0-			$	4,024,558
Warrant liability			6,287,598				-0-				787,436				400,142				-0-				7,475,176
Total of derivative liabilties		$	8,574,921			$	-0-			$	2,524,671			$	400,142			$	-0-			$	11,499,734

		Level 3 financial assets and financial liabilities at fair value
										Net unrealized
										(gains)/losses
										relating to				Net
										instruments				purchases,
		Balance,								still				issuances				Net transfers				Balance,
		beginning				Net realized				held at the				and				in and/or out				end of
		of year				gains/(losses)				reporting date				settlements				of Level 3				year
Year ended December 31, 2012
Derivatives:
Conversion feature liability		$	758,911			$	-0-			$	1,528,412			$	-0-			$	-0-			$	2,287,323
Warrant liability			1,692,708				-0-				4,594,890				-0-				-0-				6,287,598
Total of derivative liabilties		$	2,451,619			$	-0-			$	6,123,302			$	-0-			$	-0-			$	8,574,921

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details