|
Warrants (Tables)
|
9 Months Ended |
|
Sep. 30, 2014
|
| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2014
|
2013
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Number of warrants
|
Weighted average exercise price
|
Number of warrants
|
Weighted average exercise price
|
|
Balance, January 1
|
24,968,868
|
$
|
0.86
|
21,656,142
|
$
|
0.89
|
|
Issued during the period
|
4,761,905
|
$
|
1.28
|
4,446,000
|
$
|
0.59
|
|
Exercised during the period
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(12,058,871)
|
$
|
0.52
|
(2,798,950)
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$
|
0.47
|
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Expired during the period
|
(3,687,698)
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$
|
1.71
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(426,778)
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$
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1.67
|
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|
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|
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|
|
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Balance, September 30
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13,984,204
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$
|
1.06
|
22,876,414
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$
|
0.87
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| Schedule Of Fair Value Of Warrants Issued |
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Fair Value as of:
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Warrant Issuance:
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September 30, 2014
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December 31, 2013
|
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June 5, 2009 financing:
|
|
|
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|
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Series III warrants
|
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$
|
-
|
$
|
11
|
|
Warrants to placement agent
|
|
|
-
|
|
1
|
|
October 23, 2009 financing:
|
|
|
|
|
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Warrants to institutional investors
|
|
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11,169
|
|
19,689
|
|
June 30, 2010 financing:
|
|
|
|
|
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Warrants to institutional investors
|
|
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-
|
|
10
|
|
March 31, 2011 financing:
|
|
|
|
|
|
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Warrants to institutional investors
|
|
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734,147
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311,360
|
|
December 4, 2012 financing:
|
|
|
|
|
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Warrants to institutional investors
|
|
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122,573
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2,124,444
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Warrants to placement agent
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20,474
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222,286
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|
July 26, 2013 financing:
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|
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Warrants to institutional investors
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1,052,856
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|
1,148,390
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Warrants to placement agent
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|
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50,056
|
|
83,808
|
|
October 16, 2013 financing:
|
|
|
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|
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Warrants to institutional investors
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1,252,183
|
|
1,051,454
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Warrants to placement agent
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|
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160,718
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72,605
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January 21, 2014 financing:
|
|
|
|
|
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Warrants to institutional investors
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|
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1,977,833
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|
-
|
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Total:
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$
|
5,382,009
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$
|
5,034,058
|
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| Summary Of Shares Indexed To The Warrants |
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Number of Shares indexed as of:
|
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Warrant Issuance
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September 30, 2014
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December 31, 2013
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June 5, 2009 financing:
|
|
|
|
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Series III warrants
|
|
-
|
1,555,555
|
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Warrants to placement agent
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|
-
|
132,143
|
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October 23, 2009 financing:
|
|
|
|
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Warrants to institutional investors
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778,333
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1,228,333
|
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June 30, 2010 financing
|
|
|
|
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Warrants to institutional investors
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|
-
|
2,000,000
|
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March 31, 2011 financing:
|
|
|
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Warrants to institutional investors
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3,333,333
|
3,333,333
|
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December 4, 2012 financing:
|
|
|
|
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Warrants to institutional investors
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221,600
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7,418,503
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Warrants to placement agent
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40,000
|
880,000
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July 26, 2013 financing:
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|
|
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Warrants to institutional investors
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2,000,000
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3,990,000
|
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Warrants to placement agent
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124,032
|
456,000
|
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October 16, 2013 financing:
|
|
|
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Warrants to institutional investors
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2,317,309
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3,567,309
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Warrants to placement agent
|
|
407,692
|
407,692
|
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January 21, 2014 financing:
|
|
|
|
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Warrants to institutional investors
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4,761,905
|
-
|
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Total:
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|
13,984,204
|
24,968,868
|
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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June 5, 2009 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
-
|
|
$
|
0.51
|
|
|
Estimated future volatility
|
|
|
-
|
|
|
109
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
-
|
|
|
0.13
|
%
|
|
Equivalent volatility
|
|
|
-
|
|
|
43-45
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%
|
|
Equivalent risk-free rate
|
|
|
-
|
|
|
0.05-0.06
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%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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October 23, 2009 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
$
|
0.51
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
109
|
%
|
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Dividend
|
|
|
-
|
|
|
-
|
|
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Estimated future risk-free rate
|
|
|
0.02
|
%
|
|
0.13
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%
|
|
Equivalent volatility
|
|
|
84
|
%
|
|
57
|
%
|
|
Equivalent risk-free rate
|
|
|
0.01
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%
|
|
0.07
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%
|
|
|
|
|
|
|
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|
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|
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|
|
|
|
|
|
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June 30, 2010 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
-
|
|
$
|
0.51
|
|
|
Estimated future volatility
|
|
|
-
|
|
|
109
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
-
|
|
|
0.13
|
%
|
|
Equivalent volatility
|
|
|
-
|
|
|
49
|
%
|
|
Equivalent risk-free rate
|
|
|
-
|
|
|
0.06
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%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2011 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
$
|
0.51
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
109
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
1.03
|
%
|
|
1.58
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%
|
|
Equivalent volatility
|
|
|
81
|
%
|
|
71
|
%
|
|
Equivalent risk-free rate
|
|
|
0.18
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%
|
|
0.27
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%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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December 4, 2012 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
$
|
0.51
|
|
|
Estimated future volatility
|
|
|
109
|
%
|
|
109
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
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Estimated future risk-free rate
|
|
|
0.83-2.13
|
%
|
|
1.58-2.72
|
%
|
|
Equivalent volatility
|
|
|
84-85
|
%
|
|
69-73
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%
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|
Equivalent risk-free rate
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|
|
0.14-0.40
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%
|
|
0.22-0.40
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%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 26, 2013 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
|
0.51
|
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Equivalent volatility
|
|
|
83-84
|
%
|
|
69-77
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%
|
|
Equivalent risk-free rate
|
|
|
0.14-0.53
|
%
|
|
0.22-0.62
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%
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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October 16, 2013 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
|
0.51
|
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Equivalent volatility
|
|
|
83-84
|
%
|
|
69-76
|
%
|
|
Equivalent risk-free rate
|
|
|
0.14-0.57
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%
|
|
0.20-0.52
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 21, 2014 financing:
|
|
September 30, 2014
|
December 31, 2013
|
|
Trading market prices
|
|
$
|
0.81
|
|
|
-
|
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Equivalent volatility
|
|
|
81
|
%
|
|
-
|
|
|
Equivalent risk-free rate
|
|
|
0.62
|
%
|
|
-
|
|
|
| Schedule Of Unrealized Gain/(Loss) On Fair Value Of Warrants |
Changes in the fair value of the warrant liabilities, carried at fair value, as reported as “unrealized gain (loss) on fair value of warrants” in the statement of operations:
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|
|
|
|
|
|
|
|
|
|
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Three Months Ended September 30, 2014
|
Three Months Ended September 30, 2013
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Nine Months Ended September 30, 2014
|
Nine Months Ended September 30, 2013
|
|
Exercised and Expired Warrants
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
144
|
|
June 5, 2009 financing:
|
|
|
|
|
|
|
|
|
|
Series III warrants
|
|
-
|
|
(5,336)
|
|
11
|
|
24,733
|
|
Warrants to placement agent
|
|
-
|
|
(410)
|
|
1
|
|
2,392
|
|
October 23, 2009 financing:
|
|
-
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
20,943
|
|
2,580
|
|
(288,960)
|
|
28,620
|
|
June 30, 2010 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
-
|
|
(4,600)
|
|
10
|
|
4,400
|
|
March 31, 2011 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
325,303
|
|
(33,334)
|
|
(422,787)
|
|
(53,334)
|
|
December 4, 2012 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
17,395
|
|
(464,181)
|
|
(4,152,624)
|
|
(1,301,502)
|
|
Warrants to placement agent
|
|
3,131
|
|
(11,880)
|
|
(520,760)
|
|
(60,368)
|
|
July 26, 2013 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
162,082
|
|
272,916
|
|
(1,537,273)
|
|
272,916
|
|
Warrants to placement agent
|
|
10,238
|
|
26,494
|
|
(254,341)
|
|
26,494
|
|
October 16, 2013 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
192,613
|
|
-
|
|
(1,242,527)
|
|
-
|
|
Warrants to placement agent
|
|
33,955
|
|
-
|
|
(88,111)
|
|
-
|
|
January 21, 2014 financing:
|
|
|
|
|
|
|
|
|
|
Warrants to institutional investors
|
|
435,734
|
|
-
|
|
1,713,596
|
|
-
|
|
Total:
|
$
|
1,201,394
|
$
|
(217,751)
|
$
|
(6,793,765)
|
$
|
(1,055,505)
|
|