Related-Party Transactions

3 Months Ended

Mar. 31, 2012

Related Party Transactions [Abstract]

Related-Party Transactions

5. Related-Party Transactions

On January 9, 2010, the Company entered into an unsecured note payable agreement with a stockholder for $15,000 with an annual interest rate of 6% and a maturity date of December 31, 2010. The note was repaid during the three months ended March 31, 2012.

Pursuant to an agreement (Agreement) the Company has irrevocably granted a stockholder with a right of first negotiation to license certain technology of the Company related to Q-Cells®. The term of the Agreement is for a period of the later of (i) 3-years from the effective date of the Agreement (October 6, 2011) or (ii) 6-months after the date of completion of dosing of the technology.