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Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 9,164,275 $ 10,819,781
Accounts receivable 58,064 168,381
Prepaid expenses 127,084 60,041
Total current assets 9,349,423 11,048,203
Property and equipment, net 330,314 254,742
Other assets 518,775 362,081
Total assets 10,198,512 11,665,026
Current liabilities:    
Accounts payable 323,366 175,679
Accrued expenses 852,994 554,691
Total current liabilities 1,176,360 730,370
Derivative financial instruments 7,486,485 8,765,628
Total liabilities 8,662,845 9,495,998
Commitments and contingencies (Note 8)      
Stockholders' equity    
Preferred stock, $0.001 par value, 20,000,000 shares authorized, 78,100 and 95,600 shares outstanding at March 31, 2013 and December 31, 2012, respectively, designated as Series A Convertible Preferred Stock with liquidation preference of $780,100 and $956,000 at March 31, 2013 and December 31, 2012, respectively 78 96
Common stock, $0.0001 par value, 150,000,000 shares authorized, 15,516,191 and 15,478,177 issued and outstanding at March 31, 2013 and December 31, 2012, respectively 1,551 1,547
Additional paid-in capital 57,853,251 57,370,017
Deficit accumulated during development stage (56,319,213) (55,202,632)
Total stockholders' equity 1,535,667 2,169,028
Total liabilities and stockholders' equity $ 10,198,512 $ 11,665,026