Stockholders' Equity

6 Months Ended

Jun. 30, 2013

Stockholders' Equity [Abstract]

Stockholders' Equity

6. Stockholders' Equity

As of June 30, 2013, the Company had 57,988,100 shares of common stock; 23,499 shares of Series A-1 convertible preferred stock; 3,471 shares of Series A-2 convertible preferred stock; and 27,329 shares of Series B convertible preferred stock issued and outstanding.

During the six months ended June 30, 2013, the Company issued 3,413,462 shares of common stock from the conversion of 1,800 and 1,070 shares of Series A-2 and B Convertible Preferred Stock, respectively.

In March 2013, the Company issued 5,000,000 shares of common stock to investors at a price per share of $2.00. As a result of the offering, the Company received net cash proceeds of approximately $9.7 million. For additional information related to this offering please see our Prospectus Supplement filed with the Securities and Exchange Commission ("SEC") on March 13, 2013.

During the six months ended June 30, 2013, the Company declared and issued 958,974 shares of common stock at par value as dividends on outstanding shares of convertible preferred stock. The Company issued 23,197 shares of common stock for total consideration of $50,000 for the payment of long-term debt obligations, and 126,200 shares of restricted stock vested under the 2011 Equity Incentive Plan.

  On July 1, 2013, the Company declared and issued 1,208,424 shares of common stock at par value as dividends on outstanding shares of convertible preferred stock.