2.4.0.8012 - Disclosure - Warrantstruefalsefalse1false falsefalsec113_From1Jan2013To30Jun2013_WarrantMemberhttp://www.sec.gov/CIK0001368993duration2013-01-01T00:00:002013-06-30T00:00:001false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse1false truefalsec113_From1Jan2013To30Jun2013_WarrantMemberhttp://www.sec.gov/CIK0001368993duration2013-01-01T00:00:002013-06-30T00:00:00falsefalseWarrant [Member]us-gaap_DerivativeByNatureAxisxbrldihttp://xbrl.org/2006/xbrldius-gaap_WarrantMemberus-gaap_DerivativeByNatureAxisexplicitMembernanafalse0Warrant [Member]2true 3wgbs_WarrantsLineItemswgbs_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Warrants [Line Items]3false 4us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTE 8.  Warrants</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company records warrants with certain anti-dilution protection as liabilities, with the estimated fair value being calculated at each reporting date using a Monte Carlo Simulation approach, with key input variables provided by management, with changes in fair value recorded as gains or losses on revaluation in non-operating income (expense).</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate fair value of such warrants at June 30, 2013 and 2012, was estimated to be $701,857 (with the fair value per warrant share ranging from $0.09 to $0.13) and $329,414 (with the fair value per warrant share ranging from $0.001 to $0.052), respectively, using a closing stock price of $0.04 and $0.07, respectively, and based on the following assumptions:</font> </div><br/><table style="font-size: 10pt; font-family: times new roman; width: 1065px; height: 125px;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="71%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">June 30, 2013</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">June 30, 2012</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr> <td valign="bottom" width="71%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="13%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="13%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td valign="bottom" width="71%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Risk-free interest rate</font> </div> </div> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0.13% - 0.19%</font> </div> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 0.1pt;"> <font style="font-size: pt0.1;">0</font></font> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0.20% - 0.33%</font> </div> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #ffffff;"> <td valign="bottom" width="71%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Expected remaining term</font> </div> </div> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0.77 - 1.19 Years</font> </div> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0.89 - 1.99 Years</font> </div> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td valign="bottom" width="71%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Expected volatility</font> </div> </div> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">130.24% - 131.31%</font> </div> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">96.38% - 118.21%</font> </div> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #ffffff;"> <td valign="bottom" width="71%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Dividend yield</font> </div> </div> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0%</font> </div> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 4px double;" valign="bottom" width="13%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">0%</font> </div> </div> </td> </tr> </table><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The aggregate fair value of such warrants at December 31, 2012 and 2011, was estimated to be $102,695 and $655,219, respectively. During the six months ended June 30, 2013, an increase in the fair value of the warrant derivative liability of $599,162 was recorded as a revaluation loss and during the six months ended June 30, 2012, a decrease in the fair value of the warrant derivative liability of $325,805 was recorded as a revaluation gain (see Note 9).</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A summary of outstanding common stock warrants as of June 30, 2013, is as follows:</font> </div><br/><table style="font-size: 10pt; font-family: times new roman; width: 1427px; height: 275px;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center">   </div> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Securities Into Which</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Total Warrants</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Warrants Subject</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Exercise</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Expiration</font> </div> </td> </tr> <tr> <td style="border-bottom: black 2px solid;" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center">   </div> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Warrants are Convertible</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Outstanding</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">to Anti-Dilution</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Price</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Date</font> </div> </td> </tr> <tr> <td valign="bottom" width="17%">   </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">.</font> </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">56,173,248</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$0.6200</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">May 2016</font> </div> </td> </tr> <tr style="background-color: #ffffff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">4,487,656</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">3,718,425</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$0.7800</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">June and August 2014</font> </div> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">2,875,736</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">2,774,050</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$0.8400</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">December 2014 and January 2015</font> </div> </td> </tr> <tr style="background-color: #ffffff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">95,368</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$1.4680</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">December 2015</font> </div> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">203,500</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$1.5000</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">July 2015</font> </div> </td> </tr> <tr style="background-color: #ffffff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">3,000,830</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$1.5500</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">July 2015</font> </div> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Common stock</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">200,000</font> </div> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" align="right" valign="top" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$3.0000</font> </div> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="top" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">December 2014 and November 2015</font> </div> </td> </tr> <tr style="background-color: #ffffff;"> <td valign="bottom" width="17%">   </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="top" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Subtotal</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">67,036,338</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">6,492,475</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr> <td valign="bottom" width="17%">   </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left">   </div> </td> <td align="left" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 18pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Series C CPS</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">1,077,911</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 2px solid;" align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">—</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">$2.3193</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td align="left" valign="bottom" width="25%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">March 2014</font> </div> </td> </tr> <tr> <td valign="bottom" width="17%">   </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> <tr style="background-color: #cceeff;"> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center">   </div> </td> <td valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="center"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">Total</font> </div> </td> <td valign="bottom" width="1%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 4px double;" align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">68,114,249</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td style="border-bottom: black 4px double;" align="right" valign="bottom" width="17%"> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="right"> <font style="display: inline; font-family: times new roman; font-size: 10pt;">6,492,475</font> </div> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="17%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="2%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> <td valign="bottom" width="25%"> <font style="display: inline; font-family: times new roman; font-size: 10pt;"> </font> </td> </tr> </table><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The warrants expiring in May 2016 were issued in conjunction with the May 2011 Private Placement, and were recorded at an allocated valuation of $9,752,417 (see Note 4), less allocated issuance costs of $806,039, at the time of issuance. These warrants include the right to receive consideration for the unexercised portion of the warrant, based on a Black-Scholes model set forth in the warrants, in the event of certain substantial changes in ownership or trading status of the Company. This contingent embedded derivative will be accounted for only if such an event should occur.</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The warrants expiring in June and August 2014 were originally issued in June and August 2009 with an exercise price of $2.00 and entitled the holders thereof to purchase an aggregate of 1,750,185 shares. As a result of anti-dilution adjustments with respect to such warrants pursuant to their terms, such warrants, as of June 30, 2013, had an exercise price of $0.78 and entitled the holders thereof to purchase an aggregate of 4,487,656 shares. In connection with the May 2011 Private Placement, members of management with warrants to purchase a total of 769,231 shares (after giving effect to prior anti-dilution adjustments) waived their right to further anti-dilution adjustments.</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The warrants expiring in December 2014 and January 2015 were originally issued in December 2009 and January 2010 with an exercise price of $2.50 and entitled the holders thereof to purchase an aggregate of 966,247 shares. As a result of anti-dilution adjustments with respect to such warrants pursuant to their terms, such warrants, as of June 30, 2013, had an exercise price of $0.84 and entitled the holders thereof to purchase an aggregate of 2,875,736 shares. In connection with the May 2011 Private Placement, members of management with warrants to purchase a total of 101,686 shares (after giving effect to prior anti-dilution adjustments) waived their right to further anti-dilution adjustments.</font> </div><br/><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Series C SSA (see Note 5) grants the holders of the Series C CPS the right to subscribe for a further 1,077,911 CPS at a price of $2.3193. Since these Series C CPS would convert into common stock of the Company within one year of the subscription date, this right is, for accounting purposes, equivalent to a warrant to purchase the Company’s common stock.</font> </div><br/>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI 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