XML 44 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 19 - Subsequent Events
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

19. Subsequent Events


In July 2014, the Company signed an agreement with the Convertible Bondholder. The Convertible Bond holder agreed to cancel and terminate the Convertible Bond. In exchange of the cancellation and termination of the Convertible Bond, the Company agreed to issue, and the Convertible Bond holder agreed to purchase, 68,750,000 shares of common stock of the Company at $0.16 per share, the original conversion price of the Convertible Bond. The unamortized discount on the convertible bond at the cancellation date will be removed with a corresponding charge in the statement of operations during the three months ended September 30, 2014.


In July 2014, the Company issued 26,562,500 shares of Common Stock at $0.16 per share and received $4.25 million from a non-U.S. investor pursuant to a private placement agreement.


In July 2014, the Company and KDC entered into an agreement in which KDC transferred all of its rights, title and interest in the LLC to the Company. Simultaneous with the transfer of interest, KDC withdrew from the LLC and ceased to be a member of the LLC. Refer to Note 9—Investment in Affiliate.