Redeemable Preferred Stock and Stock Option Agreement (Tables)

6 Months Ended

Jun. 30, 2013

Redeemable Preferred Stock Value [Abstract]

Redeemable Preferred Stock [Table Text Block]

Redeemable preferred stock consists of the following as of:	June 30, 2013		December 31, 2012
Series A Convertible Preferred Stock, par value $0.001 per share, stated value $10,000 per share; 500 shares issued and outstanding at June 30, 2013; redemption value $5,000,000, and 500 shares issued and outstanding at December 31, 2012; redemption value $5,000,000.
Initial carrying value	$	13,246,609	$	13,246,609
Accumulated accretion		(8,246,609)		(6,867,593)
Carrying values	$	5,000,000	$	6,379,016

Allocation Of Purchase Price [Table Text Block]

The following table reflects the allocation of the purchase price on the financing date:

Allocation:	October 25, 2010		February 24, 2010
Redeemable preferred Stock	$	624,000	$	-
Warrants		936,000		5,062,800
Compound embedded derivative		440,000		4,260,000
Derivative loss, included in derivative income (expense)		-		(6,322,800)
	$	2,000,000	$	3,000,000

- Definition

Disclosure of capital stock of an entity that has priority and preferential rights over common stock in the distribution of dividends and in the event of liquidation of the entity, in addition to other types of preferences. This schedule describes redeemable preferred stock and applies to preferred stock and convertible preferred stock. Does not include preferred stock that are mandatorily redeemable for assets of the entity or represent an unconditional obligation that will be settled in a variable number of shares constituting a monetary value predominantly indexed to (a) a fixed monetary amount known at inception, (b) an amount inversely correlated with the residual value of the entity, or (c) an amount determined by reference to something other than the fair value of the issuer's stock. Includes stock that has the following features: (1) redeemable at a fixed or determinable price on a fixed or determinable date or dates; (2) redeemable at the option of the holder; or (3) has conditions for redemption which are not solely within the control of the issuer. This disclosure may include a description by series, value, shares authorized, issued and outstanding, carrying and redemption amounts, redemption price per share, dollar amount of shares subscribed but unissued, and subscriptions receivable.

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