XML 20 R46.htm IDEA: XBRL DOCUMENT v2.4.0.6
Convertible Debentures and Notes Payable (Details Narrative) (USD $)
1 Months Ended 12 Months Ended
Oct. 31, 2012
Jul. 31, 2012
Apr. 30, 2012
Mar. 31, 2012
Aug. 31, 2011
Feb. 28, 2010
Dec. 31, 2012
Dec. 31, 2011
Jul. 27, 2012
Mar. 23, 2012
Aug. 24, 2011
Debt Disclosure [Abstract]                      
Proceeds from convertible debentures   $ 3,069,900       $ 3,075,000 $ 2,969,900 $ 0      
Accrued interest on convertible debentures   Bears interest at 8%       Accrues a fixed sum of interest equal to 6% of the principal amount automatically upon issuance of the debentures.          
Debt discount           702,857          
Convertible debenture maturity date   July 2017       August 24, 2011          
Convertible debenture conversion price                 $ 0.225    
Class H warrants issued                     9,054,175
Class H warrants exercise price                     0.22
Class H warrants expiration         August 24, 2015            
Right to redeem debentures   After the second anniversary of the closing date, the Company will have the right to redeem all or part of the debentures at any time prior to the maturity date. The Company also has the right prior to the second anniversary of the closing date to redeem all or part of the debentures if the Company successfully consummates a financing of the proposed Hobbs, New Mexico de-conversion facility in the amount of at least $25 million. Any redemption of the debentures by the Company requires the payment of a redemption fee as set forth in the debentures. Each investor also received stock purchase warrant to purchase common stock equal to 25% of the shares issuable upon conversion of the debentures.                  
Warrant exercise price                 0.30    
Warrant expiration date   5 years                  
Proceeds from conversion allocated to debentures   2,703,144                  
Risk free interest rate of fair value of warrants or options   0.65%                  
Expected volatility of fair value of warrants or options   88.00%                  
Expected life of fair value of warrants or options   5 years                  
Unsecured note payable, renegotiated 400,000     500,000              
Modification of unsecured note payable In October 2012, the Company renegotiated the remaining $400,000 unsecured note payable which was to mature in full on November 1, 2012, and the terms of the note were further modified. Pursuant to the terms of the modification, the Company made a $200,000 principal payment on October 29, 2012. Starting on November 1, 2012, interest began to accrue on the remaining principal balance at an annual rate of 5% and the remaining principal payments will be made in $100,000 installments on December 1, 2012 and January 1, 2013. In November 2012, the note was further modified to state that the remaining $100,000 installments would be made on January 1, 2013 and February 1, 2013. Subsequently, in January 2013 the Company renegotiated the remaining $100,000 and per the modified agreement, the remaining $100,000 principal will continue to accrue interest at a rate of 5%. All accrued principal and interest was paid in full in March 2013.                    
Original loan- annual interest payments       7.00%              
Interest payments payable annually       April 1st              
Note maturity date       Apr. 01, 2012              
New term, maturity date extended       From April 1, 2012 to November 1, 2012              
Accrued interest       $ 35,000              
Shares issued for conversion of shareholder note, shares     204,167                
Shares issued for conversion of shareholder note, annual interest rate                   14.00%  
Shares issued for conversion of shareholder note, closing price of common stock                   $ 0.20