SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 9 SUBSEQUENT EVENTS

Sales of Common Stock

Subsequent to September 30, 2013, the Company sold 2,657,289 shares of its common stock under its ATM at an average sales price of approximately $3.00 per share resulting in proceeds, net of expenses, of approximately $7.6 million. Cumulatively during 2013, the Company has sold 3,609,595 shares under the program at an average sales price of $3.02 per share resulting in proceeds, net of expenses, of approximately $10.4 million (See Note 6). On November 1, 2013, the Company provided notice to the bank of its intent to terminate the sales agreement related to the ATM, effective November 11, 2013 and no further sales will be made under its ATM.