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Debt Extinguishment
9 Months Ended
Sep. 30, 2011
DEBT EXTINGUISHMENT [Abstract] 
Debt Extinguishment [Text Block]
DEBT EXTINGUISHMENT:
A charge to operations in the three months ended September 30, 2010 representing the loss on all debt extinguishment for the Notes, PharmaBio debt and the write-off of the remaining balance of the deferred financing costs was made as of the closing date of the Watson Transactions in the amount of $5,156,775, the proceeds from which were used to extinguish the debt.
 
 
 
Net book value of long-term notes payable
 
$
34,558,425

Consideration:
Number of shares
 
Stock issued to Noteholders
7,407,407

(7,777,777
)
Cash
 
(25,999,999
)
Warrants to purchase shares of Common Stock
7,750,000

(5,509,893
)
Loss on extinguishment of Notes
 
(4,729,244
)
 
 
 
Gain (loss) on debt extinguishment of PharmaBio debt
 
310,622

Write-off of deferred charges
 
(738,153
)
Net loss on debt extinguishment
 
$
(5,156,775
)