2.4.0.8060500 - Disclosure - CAPITAL STRUCTUREtruefalsefalse1false falsefalsec20130101to20130630http://www.sec.gov/CIK0001070698duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_StockholdersEquityNoteAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0CAPITAL STRUCTURE [Abstract]2false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalselabel1falsefalsefalse00<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;"> <font style="display: inline; font-weight: bold;">5. CAPITAL STRUCTURE</font></div><div style="text-align: justify; text-indent: 0pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;"> </div><div style="text-align: justify; text-indent: 36pt; display: block; font-family: Times New Roman; margin-left: 0pt; font-size: 10pt; margin-right: 0pt;"><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">As of June 30, 2013 and December 31, 2012, there were 58,314,471 and 52,424,649 shares, respectively, of the Company's common stock issued and outstanding.</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: left; font-style: italic; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt; font-weight: bold;">Common Stock Issuance under At-The-Market ("ATM") Sales Agreement</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">On April 30, 2012, the Company entered into an ATM Sales Agreement, with Cowen and Company, LLC ("Cowen"), under which the Company could, at its discretion, sell its common stock with a sales value of up to a maximum of $40.0 million through ATM sales on the NASDAQ Stock Market. The Company pays Cowen as the sole sales agent a commission of 3.0% of the gross sales price for any sales made under the ATM. The common stock is sold at prevailing market prices at the time of the sale of common stock, and, as a result, prices will vary.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">For the period ending June 30, 2013, $5.3 million was recorded as a receivable due to a timing difference of the receipt of cash proceeds from the sale of common stock under the ATM and is classified as prepaid and other on the Company's Condensed Consolidated Balance Sheets.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">On July 3, 2013, the Company and Cowen amended and restated the Sales Agreement (the "Amended and Restated Sales Agreement") to increase the aggregate gross sales proceeds that may be raised to $100,000,000, of which approximately $38.3 million was previously sold pursuant to the original Sales Agreement dated April 30, 2012. (See Note 9 – Subsequent Events.)</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">Sales in the ATM offering are being made pursuant to the prospectus supplement dated April 30, 2012, as amended by Amendment No. 2 dated July 3, 2013, which supplements the Company's prospectus dated February 3, 2012, filed as part of the shelf registration statement that was declared effective by the Securities and Exchange Commission ("SEC") on February 3, 2012. Cumulatively through June 30, 2013, the Company sold 6,208,986 shares under the ATM offering at a weighted-average selling price of $5.98 per share for net proceeds of approximately $36.0 million.</div><div><br /></div><div style="text-align: justify; font-family: ''Times New Roman'', Times, serif; margin-left: 36pt; font-size: 10pt;"><font style="font-style: italic; font-family: ''Times New Roman'', Times, serif; font-size: 10pt; font-weight: bold;">Common Stock Warrants</font></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">During the quarter ended June 30, 2013, the Company received approximately $4.9 million from the exercise of warrants in exchange for the issuance of 1,733,280 shares of the Company's common stock.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">The table reflects the number of common stock warrants outstanding as of June 30, 2013:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><tr><td valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: bottom;"><div style="text-align: center; font-style: italic; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 0.8pt;">(In thousands, except per share amounts)</div></td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.1pt;">Number of shares</div><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.1pt;">exercisable</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold;">Exercise</div><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold;">price</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td><td valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 4pt;">Expiration date</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Issued in connection with Encode merger</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">233</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.87</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">12/13/2015</div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Issued to placement agents in August 2009</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">65</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">1.50</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">7/31/2014</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">TorreyPines warrants assumed in 2009 Merger</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">4</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">157.08</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">9/26/2015</div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Issued to registered direct investors in Dec. 2009</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">363</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.45</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">12/22/2014</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Issued to private placement investors in Aug. 2010</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">1,450</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.075</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">8/12/2015</div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Issued to placement agent in Aug. 2010</div></td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">98</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.075</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 38%; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 4pt;">8/12/2015</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;"></div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 4px; width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.95pt;">Total warrants outstanding</div></td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 4px double; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 4px double; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2,213</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 4px double; text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 4px double; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.15</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">*</div></td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 4px; width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;"></div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;">* Weighted-average exercise price</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 38%; vertical-align: top;"><div></div></td></tr></table><div><br /></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">The warrants issued by the Company in the August 2010 private placement and the December 2009 equity financing contain a conditional obligation that may require the Company to transfer assets to repurchase the warrants upon the occurrence of potential future events. Under ASC 480, a financial instrument that may require the issuer to settle the obligation by transferring assets is classified as a liability. Therefore, the Company has classified the warrants from both financings as liabilities and will mark them to fair value at each period end.</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">A Black-Scholes option-pricing model was used to obtain the fair value of the warrant liabilities. These warrants were issued in the December 2009 and August 2010 equity financings using the following assumptions at June 30, 2013 and December 31, 2012:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><tr><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="6" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 19.2pt;">December 2009 equity financing Series A</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"> </td><td colspan="6" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 19.2pt;">August 2010 private placement</div><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 19.2pt;">investors and placement agent</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: top;"> </td></tr><tr><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 6.2pt;">June 30, 2013</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: top;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 6.2pt;">December 31, 2012</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: top;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 6.2pt;">June 30, 2013</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: top;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: top;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 6.2pt;">December 31, 2012</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Fair value <font style="font-style: italic; font-family: ''times new roman'', times, serif; font-size: 10pt;">($ millions)</font></div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.6</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.6</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">10.9</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">13.8</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Black-Scholes inputs:</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Stock price</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">9.35</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">5.85</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">9.35</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">5.85</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Exercise price</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.45</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.45</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.075</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.075</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Risk free interest rate</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0.27</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0.25</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0.36</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0.31</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Volatility</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">95</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">100</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">95</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">112</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">%</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Expected term (years)</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">1.5</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.0</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.0</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.5</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 52%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Dividend</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">0</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr></table><div style="text-align: justify;"><br /></div><div style="text-align: justify; font-style: italic; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt; font-weight: bold;">Marked-to-Market</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">As a result of the marking-to-market of the warrant liability at quarter-end and the day prior to the exercise of warrants subject to warrant liability accounting, the Company recorded a loss of approximately $7.0 million and a gain of approximately $6.9 million for the three months ended June 30, 2013 and May 31, 2012, respectively, and losses of approximately $6.0 million and $0.9 million for the six months ended June 30, 2013 and May 31, 2012, respectively, in the line item adjustment to fair value of common stock warrants in its Condensed Consolidated Statements of Comprehensive Loss.</div><div><br /></div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">Below is the activity of the warrant liabilities for the six month periods ended June 30, 2013 and May 31, 2012:</div><div><br /></div><table cellpadding="0" cellspacing="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><tr><td valign="bottom" style="padding-bottom: 2px; vertical-align: top;"><div> </div></td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="6" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 5.8pt;">For the six months ended</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td></tr><tr><td valign="bottom" style="border-bottom: #000000 2px solid; padding-bottom: 2px; vertical-align: bottom;"><div style="text-align: left; font-style: italic; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 3.2pt;">(In millions)</div></td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.8pt;">June 30,</div><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.8pt;">2013</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td><td valign="bottom" style="padding-bottom: 2px; vertical-align: bottom;"> </td><td colspan="2" valign="bottom" style="border-bottom: #000000 2px solid; vertical-align: bottom;"><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.8pt;">May 31,</div><div style="text-align: center; font-family: ''times new roman'', times, serif; font-size: 10pt; font-weight: bold; margin-right: 1.8pt;">2012</div></td><td nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; vertical-align: bottom;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; text-indent: -9pt; font-family: ''times new roman'', times, serif; margin-left: 9pt; font-size: 10pt; margin-right: 3.2pt;">Fair value of December 2009 direct offering warrants (including placement agent warrants) at beginning of the six month periods ended June 30, 2013 and May 31, 2012</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.6</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">6.7</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; margin-left: 27pt; font-size: 10pt; margin-right: 3.2pt;">December 2009 direct offering warrants exercised</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">(1.7</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">)</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">(4.5</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">)</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; margin-left: 27pt; font-size: 10pt; margin-right: 3.2pt;">Adjustment to mark to market common stock warrants</div></td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">1.7</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">1.0</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">December 2009 direct offering common stock warrant liability at fair value at June 30, 2013 and May 31, 2012</div></td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">2.6</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">3.2</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; text-indent: -9pt; font-family: ''times new roman'', times, serif; margin-left: 9pt; font-size: 10pt; margin-right: 3.2pt;">Fair value of August 2010 private placement warrants (including broker warrants) at beginning of the six month periods ended June 30, 2013 and May 31, 2012</div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">13.8</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">18.7</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; margin-left: 27pt; font-size: 10pt; margin-right: 3.2pt;">August 2010 private placement warrants exercised</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">(7.2</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">)</div></td><td bgcolor="#cceeff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">(2.7</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">)</div></td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; margin-left: 27pt; font-size: 10pt; margin-right: 3.2pt;">Adjustment to mark to market common stock warrants</div></td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">4.3</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">(0.1</div></td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">)</div></td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 76%; vertical-align: top;"><div style="text-align: left; text-indent: -9pt; font-family: ''times new roman'', times, serif; margin-left: 9pt; font-size: 10pt; margin-right: 3.2pt;">August 2010 private placement common stock warrant liability at fair value at June 30, 2013 and May 31, 2012</div></td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">10.9</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 2px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 2px solid; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">15.9</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 2px; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#ffffff" valign="bottom" style="width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 0.8pt;"> </div></td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td><td bgcolor="#ffffff" valign="bottom" style="text-align: right; width: 9%; vertical-align: top;"> </td><td bgcolor="#ffffff" nowrap="nowrap" valign="bottom" style="text-align: left; width: 1%; vertical-align: top;"> </td></tr><tr><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 4px; width: 76%; vertical-align: top;"><div style="text-align: left; font-family: ''times new roman'', times, serif; font-size: 10pt; margin-right: 3.2pt;">Total warrant liability at June 30, 2013 and May 31, 2012, respectively</div></td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 4px double; text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 4px double; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">13.5</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="padding-bottom: 4px; width: 1%; vertical-align: top;"> </td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 4px double; text-align: left; width: 1%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">$</div></td><td bgcolor="#cceeff" valign="bottom" style="border-bottom: #000000 4px double; text-align: right; width: 9%; vertical-align: top;"><div style="font-family: ''times new roman'', times, serif; font-size: 10pt;">19.1</div></td><td bgcolor="#cceeff" nowrap="nowrap" valign="bottom" style="text-align: left; padding-bottom: 4px; width: 1%; vertical-align: top;"> </td></tr></table><div><br /></div><div style="text-align: justify; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"></div><div style="text-align: justify; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"><br /></div><div style="text-align: justify; font-style: italic; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt; font-weight: bold;">Effect of Raptor's Stock Price and Volatility Assumptions on the Calculation of Fair Value of Warrant Liabilities</div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;"> </div><div style="text-align: justify; text-indent: 36pt; font-family: ''Times New Roman'', Times, serif; font-size: 10pt;">As discussed above, the Company uses the Black-Scholes option pricing model as its method of valuation for warrants that are subject to warrant liability accounting. The determination of the fair value as of the reporting date is affected by Raptor's stock price as well as assumptions regarding a number of highly complex and subjective variables which could provide differing variables. These variables include, but are not limited to, expected stock price volatility over the term of the security and risk-free interest rate. In addition, the Black-Scholes option pricing model requires the input of an expected life for the securities for which the Company has estimated based upon the stage of its development. The fair value of the warrant liability is revalued each balance sheet date utilizing Black-Scholes valuation model computations with the decrease or increase in fair value being reported in the Condensed Consolidated Statement of Comprehensive Loss as other income or expense, respectively. The Company's reported net loss was approximately $40.1 million for the six months ended June 30, 2013. If the Company's June 30, 2013 closing stock price had been 10% lower, its net loss would have been approximately $1.7 million lower. If the Company's June 30, 2013 closing stock price had been 10% higher, its net loss would have been approximately $1.7 million higher. If the Company's June 30, 2013 volatility assumption had been 10% lower, its net loss would have been approximately $0.3 million lower. If the Company's June 30, 2013 volatility assumption had been 10% higher, its net loss would have been approximately $0.3 million higher.</div></div></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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