Management's Statement (Financing Narrative) (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified

1 Months Ended

May 31, 2013

Managements Statement Financing Narrative Details

Number of shares of common stock issued

2.6

Cash received from stock sale, before issuance costs

$ 5,850,000

Stock issuance costs

$ 362,000

Common shares underlying warrants

2.0

Warrant exercise price, per share

$ 2.886

Date from which warrants are exercisable

May 31, 2013

Warrant term, in years

5 years 0 months 0 days

Warrant terms and provisions

Based on the terms of the agreement, we have determined that the warrant instruments should be classified as a liability given that the warrants could result in the issuance of a variable number of common shares based on a conditional exercise provision that is outside of our control at any point when the share price of our common stock is equal to or less than the stated exercise price of $2.886 per share. At the date of issuance, and as of June 30, 2013, our common stock was trading at a value less than the stated exercise price, as such upon expiration of the 45 day lock up period, the holders may elect to exchange the warrants for a variable number of shares of common stock as determined by a negotiated formula included in the warrant agreement. However, the agreement contains a limit that restricts the number of shares that may be issued under this exchange provision, such that we will not issue any more common shares than could be issued on a one-for-one basis upon exercise of the warrants. As of June 30, 2013, based upon the terms of the agreement and the quoted market price of our common stock, if the exchange feature were to be fully exercised, we would be required to issue approximately 1,490,000 shares of common stock, equal to an estimated fair market value of $3,755,000, which we believe is the best indication of the fair value of the warrant obligation as of June 30, 2013. Changes in the market value of our common stock will increase or decrease the number of shares to be issued under this exchange feature; however the aggregate fair market value of shares to be issued under this provision will not change significantly due to the negotiated and fixed exchange formula in the agreement. Due to the limiting provisions on the exchange agreement, the maximum number of shares of common stock that we could be required to issue is 1,976,352.