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Liabilities (Tables)
6 Months Ended
Jun. 30, 2013
Liabilities [Abstract]  
Schedule of Balance of Debentures
As of June 30, 2013 and December 31, 2012, the balances of the Debentures are as follows:
 
 
 
June 30,
 
December 31,
 
 
 
2013
 
2012
 
Balance at beginning of period
 
$
1,129,473
 
$
-
 
Issuance of debentures for cash
 
 
862,000
 
 
3,186,000
 
Original issue discount
 
 
45,369
 
 
167,685
 
Debentures surrended in exchange transaction
 
 
(300,002)
 
 
-
 
Debentures issued in exchange transaction
 
 
325,261
 
 
-
 
Debentures converted to common stock
 
 
(263,158)
 
 
(2,224,212)
 
Convertible debt
 
 
1,798,943
 
 
1,129,473
 
Less unamortized costs of financing
 
 
321,915
 
 
520,851
 
Convertible debt, net of unamortized costs
 
$
1,477,028
 
$
608,622
 
 
 
 
 
 
 
 
 
Convertible debt in default
 
$
566,319
 
$
-
 
Schedule of Balances of Derivative Liability
As of June 30, 2013 and December 31, 2012, the balances of the Derivative Liability are as follows:
 
 
 
 
 
 
Conversion
 
 
 
 
 
 
Warrants
 
Feature
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2012
 
$
-
 
$
-
 
$
-
 
Liabililty on issuance of debt and warrants
 
 
2,510,919
 
 
2,167,341
 
 
4,678,260
 
Change in fair value at year end
 
 
(780,875)
 
 
991,912
 
 
211,037
 
Elimination of liability on conversion
 
 
-
 
 
(2,553,737)
 
 
(2,553,737)
 
Balance at December 31, 2012
 
 
1,730,044
 
 
605,516
 
 
2,335,560
 
 
 
 
 
 
 
 
 
 
 
 
Liabililty on issuance of debt and warrants
 
 
762,105
 
 
929,156
 
 
1,691,261
 
Change in fair value at period end
 
 
(237,313)
 
 
(396,905)
 
 
(634,218)
 
Elimination of liability on conversion
 
 
-
 
 
(36,594)
 
 
(36,594)
 
Derivative liability
 
$
2,254,836
 
$
1,101,173
 
$
3,356,009