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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (USD $)
Total
January 2007 employment agreement
February 2007 employment agreement
Founders
Services
Services
November 2006 issuance at $2.99 per share
Services
November 2006 issuance at $3.35 per share
Services
December 2006 first issuance at $3.65 per share
Services
December 2006 second issuance at $3.65 per share
Services
February 2007 issuance at $5.92 per share
Services
March 2007 issuance at $7.18 per share
Services
Vested in March 2007
Services
Vested in June 2007
Services
June 2007 issuance at $6.25 per share
Services
August 2007 issuance at $5.07 per share
Services
July 2008 issuance at $4.10 per share
Services
July, September, and December 2008 issuances
Services
June 2009 issuance at $1.5 per share
Services
July 2009 issuance at $0.88 per share
Services
August 2009 issuance at $0.80 per share
Services
September and October 2009 issuances
Services
March 2010 issuance at $0.36 per share
Services
May 2010 issuance at $0.30 per share
Services
May 2010 issuance at $0.18 per share
Services
July 2010 issuance at $0.24 per share
Services
October 2010 issuance at $0.46 per share
Services
November 2010 issuance at $0.5 per share
Services
December 2010 issuance at $0.48 per share
Options
Warrants
Cash
January 2007 issuance at $2.00 per share
Cash
December 2007 issuance at $2.70 per share
Debt replacement
Convertible note agreement
Convertible Notes Payable
Interest payments
October and December 2007 issuances
Common Stock
Common Stock
January 2007 employment agreement
Common Stock
February 2007 employment agreement
Common Stock
Founders
Common Stock
Services
November 2006 issuance at $2.99 per share
Common Stock
Services
November 2006 issuance at $3.35 per share
Common Stock
Services
December 2006 first issuance at $3.65 per share
Common Stock
Services
December 2006 second issuance at $3.65 per share
Common Stock
Services
February 2007 issuance at $5.92 per share
Common Stock
Services
March 2007 issuance at $7.18 per share
Common Stock
Services
June 2007 issuance at $6.25 per share
Common Stock
Services
August 2007 issuance at $5.07 per share
Common Stock
Services
July 2008 issuance at $4.10 per share
Common Stock
Services
July, September, and December 2008 issuances
Common Stock
Services
June 2009 issuance at $1.5 per share
Common Stock
Services
July 2009 issuance at $0.88 per share
Common Stock
Services
August 2009 issuance at $0.80 per share
Common Stock
Services
September and October 2009 issuances
Common Stock
Services
March 2010 issuance at $0.36 per share
Common Stock
Services
May 2010 issuance at $0.30 per share
Common Stock
Services
May 2010 issuance at $0.80 per share
Common Stock
Services
May 2010 issuance at $0.18 per share
Common Stock
Services
July 2010 issuance at $0.24 per share
Common Stock
Services
October 2010 issuance at $0.46 per share
Common Stock
Services
November 2010 issuance at $0.5 per share
Common Stock
Services
December 2010 issuance at $0.48 per share
Common Stock
Cash
January 2007 issuance at $2.00 per share
Common Stock
Cash
December 2007 issuance at $2.70 per share
Common Stock
Convertible Notes Payable
Common Stock
Interest payments
October and December 2007 issuances
Additional Paid-in Capital
Additional Paid-in Capital
January 2007 employment agreement
Additional Paid-in Capital
February 2007 employment agreement
Additional Paid-in Capital
Services
Additional Paid-in Capital
Services
November 2006 issuance at $2.99 per share
Additional Paid-in Capital
Services
November 2006 issuance at $3.35 per share
Additional Paid-in Capital
Services
December 2006 first issuance at $3.65 per share
Additional Paid-in Capital
Services
December 2006 second issuance at $3.65 per share
Additional Paid-in Capital
Services
February 2007 issuance at $5.92 per share
Additional Paid-in Capital
Services
March 2007 issuance at $7.18 per share
Additional Paid-in Capital
Services
Vested in March 2007
Additional Paid-in Capital
Services
Vested in June 2007
Additional Paid-in Capital
Services
June 2007 issuance at $6.25 per share
Additional Paid-in Capital
Services
August 2007 issuance at $5.07 per share
Additional Paid-in Capital
Services
July 2008 issuance at $4.10 per share
Additional Paid-in Capital
Services
July, September, and December 2008 issuances
Additional Paid-in Capital
Services
June 2009 issuance at $1.5 per share
Additional Paid-in Capital
Services
July 2009 issuance at $0.88 per share
Additional Paid-in Capital
Services
August 2009 issuance at $0.80 per share
Additional Paid-in Capital
Services
September and October 2009 issuances
Additional Paid-in Capital
Services
March 2010 issuance at $0.36 per share
Additional Paid-in Capital
Services
May 2010 issuance at $0.30 per share
Additional Paid-in Capital
Services
May 2010 issuance at $0.80 per share
Additional Paid-in Capital
Services
May 2010 issuance at $0.18 per share
Additional Paid-in Capital
Services
July 2010 issuance at $0.24 per share
Additional Paid-in Capital
Services
October 2010 issuance at $0.46 per share
Additional Paid-in Capital
Services
November 2010 issuance at $0.5 per share
Additional Paid-in Capital
Services
December 2010 issuance at $0.48 per share
Additional Paid-in Capital
Options
Additional Paid-in Capital
Warrants
Additional Paid-in Capital
Cash
January 2007 issuance at $2.00 per share
Additional Paid-in Capital
Cash
December 2007 issuance at $2.70 per share
Additional Paid-in Capital
Debt replacement
Additional Paid-in Capital
Convertible note agreement
Additional Paid-in Capital
Convertible Notes Payable
Additional Paid-in Capital
Interest payments
October and December 2007 issuances
Deficit Accumulated During Development Stage
Treasury Stock
Beginning Balance at Mar. 27, 2006                                                                                                                                                                                                                
Common shares retained by Sucre Agricultural Corp., Shareholders (in shares)                                                                         4,028,264                                                                                                                                      
Common shares retained by Sucre Agricultural Corp., Shareholders $ 690,000                                                                       $ 4,028                                                           $ 685,972                                                                          
Costs associated with the acquisition of Sucre Agricultural Corp. (3,550)                                                                                                                                   (3,550)                                                                          
Net income (loss) (1,555,497)                                                                                                                                                                                                           (1,555,497)  
Common shares issued (in shares)                                                                               17,000,000 37,500 20,000 20,000 20,000                                                                                                                        
Common shares issued       17,000   112,000 67,001 73,000 73,000                                                             17,000 38 20 20 20                                                     111,962 66,981 72,980 72,980                                                            
Estimated value of common shares at $3.99 per share and warrants at $2.90 issuable for services upon vesting in February 2007         160,000                                                                                                                                 160,000                                                                    
Share-based compensation                                                         114,811 100,254                                                                                                                                 114,811 100,254                
Ending Balance at Dec. 31, 2006 (151,981)                                                                       21,126                                                           1,382,390                                                                       (1,555,497)  
Ending Balance (in shares) at Dec. 31, 2006                                                                         21,125,764                                                                                                                                      
Exercise of stock options in July 2007 at $2.00 per share (in shares)                                                                         20,000                                                                                                                                      
Exercise of stock options in July 2007 at $2.00 per share 40,000                                                                       20                                                           39,980                                                                          
Loss on Extinguishment of debt in December 2007 955,637                                                                                                                                   955,637                                                                          
Net income (loss) (14,276,418)                                                                                                                                                                                                           (14,276,418)  
Common shares issued (in shares)                                                                                         37,500 37,500 37,500 13,000                             284,750 5,740,741   15,143                                                                            
Common shares issued                   138,875 269,250     234,375 65,914                               756,160 14,360,000       55,584                 38 37 37 13                             285 5,741   15                 138,837 269,213     234,338 65,901                                 755,875 14,354,259       55,569    
Fair value of warrants                   158,118   305,307 269,839                                       107,459 332,255 2,000,000                                                                               158,118   305,307 269,839                                         107,459 332,255 2,000,000      
Share-based compensation                                                         4,692,863                                                                                                                                   4,692,863                  
Share based compensation related to employment agreement (in shares)                                                                           10,000 50,000                                                                                                                                  
Share based compensation related to employment agreement   39,900 275,001                                                                     10 50                                                         39,890 274,951                                                                      
Conversion of $2,000,000 note payable in August 2007 at $2.90 per share (in shares)                                                                                                                                 689,655                                                                              
Conversion of $2,000,000 note payable in August 2007 at $2.90 per share                                                                     2,000,000                                                           689                                                                       1,999,311      
Ending Balance at Dec. 31, 2007 12,628,138                                                                       28,061                                                           28,431,992                                                                       (15,831,915)  
Ending Balance (in shares) at Dec. 31, 2007                                                                         28,061,553                                                                                                                                      
Purchase of treasury, shares                                                                         (32,172)                                                                                                                                      
Purchase of treasury shares between April to September 2008 at an average of $3.12 (101,581)                                                                                                                                                                                                             (101,581)
Net income (loss) (14,370,594)                                                                                                                                                                                                           (14,370,594)  
Common shares issued (in shares)                                                                                                 30,000 41,500                                                                                                            
Common shares issued                               123,000 63,855                                                               30 41                                                             122,970 63,814                                            
Share-based compensation                                                         3,769,276                                                                                                                                   3,769,276                  
Ending Balance at Dec. 31, 2008 2,112,094                                                                       28,132                                                           32,388,052                                                                       (30,202,509) (101,581)
Ending Balance (in shares) at Dec. 31, 2008                                                                         28,100,881                                                                                                                                      
Cumulative effect of warrants reclassified                                                                                                                                     (18,586,588)                                                                       18,586,588  
Reclassification of long term warrant liability (2,915,136)                                                                                                                                                                                                           (2,915,136)  
Net income (loss) 1,136,092                                                                                                                                                                                                           1,136,092  
Common shares issued (in shares)                                                                                                     11,412 30,000 100,000 22,500                                                                                                    
Common shares issued                                   17,118 26,400 80,000 20,701                                                           11 30 100 23                                                         17,107 26,370 79,900 20,678                                    
Option to purchase Common shares for services in August 2009 at an option price of $3.00 for 100,000 shares         8,273                                                                                                                                 8,273                                                                    
Common shares to be issued for services in August 2009 at $0.80 per share         80,000                                                                                                                                 80,000                                                                    
Ending Balance at Dec. 31, 2009 565,542                                                                       28,296                                                           14,033,792                                                                       (13,394,965) (101,581)
Ending Balance (in shares) at Dec. 31, 2009 28,264,793                                                                       28,264,793                                                                                                                                      
Common shares cancelled, shares                                                                         (43,000)                                                                                                                                      
Common shares cancelled in October 2010 at $0.30 per share (13,000)                                                                       (43)                                                           (12,957)                                                                          
Discount on related party note payable 83,736                                                                                                                                   83,736                                                                          
Net income (loss) (922,906)                                                                                                                                                                                                           (922,906)  
Common shares issued (in shares)                                                                                                             37,500 43,000 100,000 37,500 30,000 37,000 6,435 10,000                                                                                    
Common shares issued                                           13,500 13,000 6,750 7,200 17,020 3,217 4,800                                                     38 43 100 38 30 37 6 10                                                 13,462 12,957 (100) 6,712 7,170 16,983 3,211 4,790                    
Ending Balance at Dec. 31, 2010 $ (221,141)                                                                       $ 28,555                                                           $ 14,169,756                                                                       $ (14,317,871) $ (101,581)
Ending Balance (in shares) at Dec. 31, 2010 28,523,228                                                                       28,523,228