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Note 7 - Derivative Warrant Liability: Schedule of Changes in Derivative Warrant Liabilities (Tables)
9 Months Ended
Sep. 30, 2012
Tables/Schedules  
Schedule of Changes in Derivative Warrant Liabilities

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

2012

 

2011

 

2012

 

2011

Beginning balance

$               -  

 

$      1,442,386

 

$     592,783

 

$                   - 

Derivative recognized upon issuance

                  -  

 

                        -  

 

                    -  

 

       2,090,648

Fair value changes due to repricing, included in income

                  -  

 

                        -  

 

          46,444

 

            39,503

Unrealized fair value changes, included in income

                  -  

 

         (502,724)

 

     (639,227)

 

     (1,190,489)

Total unrealized gain, included in income

                  -  

 

         (502,724)

 

     (592,783)

 

     (1,150,986)

Ending balance

$               -  

 

$         939,662

 

$                 -  

 

$       939,662