|
Warrants (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Warrants [Abstract] |
|
| Summary Of Changes In Warrants Outstanding During The Period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
2012
|
|
|
Number of warrants
|
Weighted average exercise price
|
Number of warrants
|
Weighted average exercise price
|
|
Balance, January 1
|
21,656,142
|
$
|
0.89
|
8,676,142
|
$
|
1.53
|
|
Issued during the period
|
8,421,001
|
|
0.59
|
12,980,000
|
$
|
0.47
|
|
Exercised during the period
|
(4,681,497)
|
|
0.47
|
-
|
$
|
-
|
|
Expired during the period
|
(426,778)
|
|
1.67
|
-
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Balance, December 31
|
24,968,868
|
$
|
0.86
|
21,656,142
|
$
|
0.89
|
|
| Schedule Of Fair Value Of Warrants Issued |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value as of:
|
|
Warrant Issuance:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
December 18, 2007 financing
|
|
$
|
-
|
$
|
-
|
$
|
1,392,476
|
|
March 20, 2008 financing
|
|
|
-
|
|
-
|
|
190,917
|
|
June 5, 2009 financing:
|
|
|
|
|
|
|
|
|
Series I warrants
|
|
|
-
|
|
-
|
|
707,111
|
|
Series II warrants
|
|
|
-
|
|
-
|
|
1,315,626
|
|
Series III warrants
|
|
|
11
|
|
35,311
|
|
1,306,200
|
|
Warrants to placement agent
|
|
|
1
|
|
3,489
|
|
122,257
|
|
October 23, 2009 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
19,689
|
|
73,454
|
|
1,012,934
|
|
Warrants to placement agent
|
|
|
-
|
|
41
|
|
101,693
|
|
June 30, 2010 financing
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
10
|
|
12,200
|
|
1,800,800
|
|
Warrants to placement agent
|
|
|
-
|
|
20
|
|
180,080
|
|
March 31, 2011 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
311,360
|
|
306,333
|
|
2,826,666
|
|
Warrants to placement agent
|
|
|
-
|
|
83
|
|
97,667
|
|
December 4, 2012 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
2,124,444
|
|
2,263,910
|
|
2,474,120
|
|
Warrants to placement agent
|
|
|
222,286
|
|
147,224
|
|
163,096
|
|
July 26, 2013 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
1,148,390
|
|
-
|
|
1,295,952
|
|
Warrants to placement agent
|
|
|
83,808
|
|
-
|
|
110,489
|
|
October 16, 2013 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
1,051,454
|
|
-
|
|
1,070,193
|
|
Warrants to placement agent
|
|
|
72,605
|
|
-
|
|
87,368
|
|
Total:
|
|
$
|
5,034,058
|
$
|
2,842,065
|
$
|
16,255,645
|
|
| Summary Of Shares Indexed To The Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares indexed as of:
|
|
Warrant Issuance
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
December 18, 2007 financing
|
|
-
|
-
|
1,078,579
|
|
March 20, 2008 financing
|
|
-
|
-
|
128,572
|
|
June 5, 2009 financing:
|
|
|
|
|
|
Series I warrants
|
|
-
|
-
|
2,222,222
|
|
Series II warrants
|
|
-
|
-
|
1,866,666
|
|
Series III warrants
|
|
1,555,555
|
1,555,555
|
1,555,555
|
|
Warrants to placement agent
|
|
132,143
|
132,143
|
142,857
|
|
October 23, 2009 financing:
|
|
|
|
|
|
Warrants to institutional investors
|
|
1,228,333
|
1,228,333
|
2,125,334
|
|
Warrants to placement agent
|
|
-
|
18,445
|
245,932
|
|
June 30, 2010 financing
|
|
|
|
|
|
Warrants to institutional investors
|
|
2,000,000
|
2,000,000
|
2,000,000
|
|
Warrants to placement agent
|
|
-
|
200,000
|
200,000
|
|
March 31, 2011 financing:
|
|
|
|
|
|
Warrants to institutional investors
|
|
3,333,333
|
3,333,333
|
3,333,333
|
|
Warrants to placement agent
|
|
-
|
208,333
|
208,333
|
|
December 4, 2012 financing:
|
|
|
|
|
|
Warrants to institutional investors
|
|
7,418,503
|
12,100,000
|
12,100,000
|
|
Warrants to placement agent
|
|
880,000
|
880,000
|
880,000
|
|
July 26, 2013 financing:
|
|
|
|
|
|
Warrants to institutional investors
|
|
3,990,000
|
-
|
3,990,000
|
|
Warrants to placement agent
|
|
456,000
|
-
|
456,000
|
|
October 16, 2013 financing:
|
|
|
|
|
|
Warrants to institutional investors
|
|
3,567,309
|
-
|
3,567,308
|
|
Warrants to placement agent
|
|
407,692
|
-
|
407,692
|
|
Total:
|
|
24,968,868
|
21,656,142
|
36,508,383
|
|
| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
The assumptions used in calculating the fair values of the warrants are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 18, 2007 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
-
|
|
$
|
-
|
|
$
|
1.75
|
|
|
Estimated future volatility
|
|
|
-
|
|
|
-
|
|
|
143
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
-
|
|
|
-
|
|
|
3.27
|
%
|
|
Equivalent volatility
|
|
|
-
|
|
|
-
|
|
|
106
|
%
|
|
Equivalent risk-free rate
|
|
|
-
|
|
|
-
|
|
|
3.26
|
%
|
|
Estimated additional shares to be issued upon dilutive event
|
|
|
-
|
|
|
-
|
|
|
98,838
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 20, 2008 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
-
|
|
$
|
-
|
|
$
|
2.14
|
|
|
Estimated future volatility
|
|
|
-
|
|
|
-
|
|
|
142
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
-
|
|
|
-
|
|
|
1.95
|
%
|
|
Equivalent volatility
|
|
|
-
|
|
|
-
|
|
|
97
|
%
|
|
Equivalent risk-free rate
|
|
|
-
|
|
|
-
|
|
|
1.31
|
%
|
|
Estimated additional shares to be issued upon dilutive event
|
|
|
-
|
|
|
-
|
|
|
7,479
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 5, 2009 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
$
|
0.31
|
|
$
|
1.14
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
0.13
|
%
|
|
0.16
|
%
|
|
0.63-4.31
|
%
|
|
Equivalent volatility
|
|
|
43-45
|
%
|
|
92
|
%
|
|
103-117
|
%
|
|
Equivalent risk-free rate
|
|
|
0.05-0.06
|
%
|
|
0.11
|
%
|
|
0.20-1.44
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October 23, 2009 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
$
|
0.31
|
|
$
|
0.69
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
0.13
|
%
|
|
0.16-0.34
|
%
|
|
2.63-3.80
|
%
|
|
Equivalent volatility
|
|
|
57
|
%
|
|
74-93
|
%
|
|
98-99
|
%
|
|
Equivalent risk-free rate
|
|
|
0.07
|
%
|
|
0.06-0.13
|
%
|
|
0.93-1.16
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2010 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
$
|
0.31
|
|
$
|
1.43
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
100
|
%
|
|
100
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
0.13
|
%
|
|
0.16-0.34
|
%
|
|
1.78
|
%
|
|
Equivalent volatility
|
|
|
49
|
%
|
|
74-75
|
%
|
|
98
|
%
|
|
Equivalent risk-free rate
|
|
|
0.06
|
%
|
|
0.06
|
%
|
|
0.59
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2011 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
$
|
0.31
|
|
$
|
1.18
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
93-100
|
%
|
|
100
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
1.58
|
%
|
|
0.16-0.58
|
%
|
|
1.32-3.64
|
%
|
|
Equivalent volatility
|
|
|
71
|
%
|
|
74-89
|
%
|
|
79-96
|
%
|
|
Equivalent risk-free rate
|
|
|
0.27
|
%
|
|
0.06-0.23
|
%
|
|
0.39-1.09
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 4, 2012 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
$
|
0.31
|
|
$
|
0.30-0.33
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
85-100
|
%
|
|
100
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
1.58-2.72
|
%
|
|
0.58-1.26
|
%
|
|
0.52-1.065
|
%
|
|
Equivalent volatility
|
|
|
69-73
|
%
|
|
88
|
%
|
|
88-90
|
%
|
|
Equivalent risk-free rate
|
|
|
0.22-0.40
|
%
|
|
0.21-0.32
|
%
|
|
0.22-0.31
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 26, 2013 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
|
-
|
|
$
|
0.53
|
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Equivalent volatility
|
|
|
69-77
|
%
|
|
-
|
|
|
78-80
|
%
|
|
Equivalent risk-free rate
|
|
|
0.22-0.62
|
%
|
|
-
|
|
|
0.20-0.48
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
October 16, 2013 financing:
|
|
December 31, 2013
|
December 31, 2012
|
Transaction Date
|
|
|
Trading market prices
|
|
$
|
0.51
|
|
|
-
|
|
$
|
0.49
|
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Equivalent volatility
|
|
|
69-76
|
%
|
|
-
|
|
|
81-83
|
%
|
|
Equivalent risk-free rate
|
|
|
0.20-0.52
|
%
|
|
-
|
|
|
0.21-0.55
|
%
|
|
| Schedule Of Unrealized Gains Losses On Fair Value Of Warrants |
Changes in the fair value of the warrant liabilities, carried at fair value, as reported as “unrealized (loss) gain on fair value of warrants” in the statement of operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2013
|
Year Ended December 31, 2012
|
Cumulative from March 19, 2001 (Inception) to December 31, 2013
|
|
December 18, 2007 financing
|
|
$
|
-
|
$
|
-
|
$
|
50,722
|
|
March 20, 2008 financing
|
|
|
-
|
|
-
|
|
160,063
|
|
June 5, 2009 financing:
|
|
|
|
|
|
|
|
|
Series I warrants
|
|
|
-
|
|
-
|
|
707,111
|
|
Series II warrants
|
|
|
-
|
|
-
|
|
(2,191,175)
|
|
Series III warrants
|
|
|
35,300
|
|
54,445
|
|
1,306,189
|
|
Warrants to placement agent
|
|
|
3,488
|
|
5,404
|
|
107,876
|
|
Derivative loss at inception
|
|
|
-
|
|
-
|
|
(328,937)
|
|
October 23, 2009 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
53,765
|
|
55,767
|
|
(55,995)
|
|
Warrants to placement agent
|
|
|
41
|
|
673
|
|
(135,938)
|
|
June 30, 2010 financing
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
12,190
|
|
77,600
|
|
1,800,790
|
|
Warrants to placement agent
|
|
|
20
|
|
2,300
|
|
180,080
|
|
March 31, 2011 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
(5,027)
|
|
237,667
|
|
2,515,306
|
|
Warrants to placement agent
|
|
|
83
|
|
3,938
|
|
97,667
|
|
December 4, 2012 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
(1,598,195)
|
|
210,210
|
|
(1,387,985)
|
|
Warrants to placement agent
|
|
|
(75,062)
|
|
15,872
|
|
(59,190)
|
|
July 26, 2013 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
147,562
|
|
-
|
|
147,562
|
|
Warrants to placement agent
|
|
|
26,681
|
|
-
|
|
26,681
|
|
October 16, 2013 financing:
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
|
18,739
|
|
-
|
|
18,739
|
|
Warrants to placement agent
|
|
|
14,761
|
|
-
|
|
14,761
|
|
Total:
|
|
$
|
(1,365,654)
|
$
|
663,876
|
$
|
2,974,327
|
|