Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 06, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'Skyline Medical Inc. | ' |
Entity Central Index Key | '0001446159 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 221,068,939 |
Trading Symbol | 'SKLN | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
CONDENSED_BALANCE_SHEETS
CONDENSED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
ASSETS | ' | ' |
Cash | $328,362 | $13,139 |
Accounts Receivable, net of Allowance for Doubtful Accounts of $0 in 2013 and $4,073 in 2012. | 83,191 | 39,711 |
Inventories | 101,067 | 145,209 |
Prepaid Expense and other assets | 34,462 | 27,409 |
Total Current Assets | 547,082 | 225,468 |
Fixed Assets, net | 37,491 | 3,521 |
Intangibles, net | 52,074 | 140,588 |
Total Assets | 636,647 | 369,577 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ' | ' |
Current portion of convertible debt, net of discounts of $0 and $21,138 (See Note 6) | 0 | 1,081,187 |
Convertible Notes Payable - Related Party (See Note 9) | 0 | 0 |
Accounts payable | 636,085 | 733,595 |
Accrued expenses | 744,089 | 1,599,519 |
Deferred Revenue | 5,000 | 0 |
Total Current Liabilities | 1,385,174 | 3,414,301 |
Long-term convertible debt | 0 | 89,300 |
Accrued Expenses | 444,902 | 0 |
Liability for equity-linked financial instruments (See Note 8) | 15,219 | 169,179 |
Total Liabilities | 1,845,295 | 3,672,780 |
Stockholders' Deficit: | ' | ' |
Common stock, $.01 par value, 300,000,000 authorized, 219,640,021 and 104,247,228 outstanding | 2,196,401 | 1,042,473 |
Additional paid-in capital | 23,138,027 | 14,945,435 |
Deficit accumulated during development stage | -26,543,076 | -19,291,111 |
Total Stockholders' Deficit | -1,208,648 | -3,303,203 |
Total Liabilities and Stockholders' Deficit | $636,647 | $369,577 |
CONDENSED_BALANCE_SHEETS_Paren
CONDENSED BALANCE SHEETS [Parenthetical] (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Allowance for Doubtful Accounts Receivable (in dollars) | $0 | $4,073 |
Accumulated discounts on current portion of convertible debt (in dollars) | $0 | $21,138 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares outstanding | 219,640,021 | 104,247,228 |
CONDENSED_STATEMENTS_OF_OPERAT
CONDENSED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | 137 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Revenue | $107,835 | $51,615 | $386,418 | $99,210 | $687,852 |
Cost of goods sold | 26,181 | 69,962 | 135,120 | 85,478 | 326,880 |
Gross Margin | 81,654 | -18,347 | 251,298 | 13,732 | 360,972 |
General and administrative expense | 3,195,589 | 2,518,114 | 5,906,805 | 5,034,810 | 21,657,168 |
Operations expense | 354,027 | 300,719 | 763,422 | 519,019 | 3,054,003 |
Sales and marketing expense | 164,712 | 13,508 | 357,274 | 74,572 | 1,418,729 |
Interest expense | 407,516 | 23,703 | 629,722 | 168,462 | 1,556,178 |
Loss (gain) on valuation of equity-linked financial instruments | -65,287 | -18,678 | -153,960 | -78,275 | -782,030 |
Total expense | 4,056,557 | 2,837,366 | 7,503,263 | 5,718,587 | 26,904,048 |
Net income (loss) available to common shareholders | ($3,974,903) | ($2,855,713) | ($7,251,965) | ($5,704,855) | ($26,543,076) |
Loss per common share basic and diluted (in dollars per share) | ($0.03) | ($0.04) | ($0.06) | ($0.10) | ($1.63) |
Weighted average shares used in computation, basic and diluted (in shares) | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 |
STATEMENT_OF_STOCKHOLDERS_DEFI
STATEMENT OF STOCKHOLDERS' DEFICIT (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | |
Balance at Dec. 31, 2001 | $0 | $0 | $0 | $0 | |
Balance (in shares) at Dec. 31, 2001 | ' | 0 | ' | ' | |
Issuance of common stock 9/1/02, $.0167 (1) | [1] | 10,000 | 5,985 | 4,015 | 0 |
Issuance of common stock 9/1/02, $.0167 (1) (in shares) | [1] | ' | 598,549 | ' | ' |
Issuance of common 10/23/02, $1.67/share | 5,000 | 30 | 4,970 | ' | |
Issuance of common 10/23/02, $1.67/share (in shares) | ' | 2,993 | ' | ' | |
Net loss | -51,057 | ' | ' | -51,057 | |
Balance at Dec. 31, 2002 | -36,057 | 6,015 | 8,985 | -51,057 | |
Balance (in shares) at Dec. 31, 2002 | ' | 601,542 | ' | ' | |
Issuance of common stock | [2] | 400 | 239 | 161 | ' |
Issuance of common stock (in shares) | [2] | ' | 23,942 | ' | ' |
Issuance of common 6/11&12,$1.67 (3) | [3] | 35,000 | 216 | 34,784 | ' |
Issuance of common 6/11&12,$1.67 (3) (in shares) | [3] | ' | 21,548 | ' | ' |
Net loss | -90,461 | ' | ' | -90,461 | |
Balance at Dec. 31, 2003 | -91,118 | 6,470 | 43,930 | -141,518 | |
Balance (in shares) at Dec. 31, 2003 | ' | 647,032 | ' | ' | |
Issuance of common 5/25/04, $.0167 (4) | [4] | 110 | 66 | 44 | ' |
Issuance of common 5/25/04, $.0167 (4) (in shares) | [4] | ' | 6,567 | ' | ' |
Net loss | -90,353 | ' | ' | -90,353 | |
Balance at Dec. 31, 2004 | -181,361 | 6,536 | 43,974 | -231,871 | |
Balance (in shares) at Dec. 31, 2004 | ' | 653,599 | ' | ' | |
Issuance of common stock | [5] | 250 | 150 | 100 | ' |
Issuance of common stock (in shares) | [5] | ' | 14,964 | ' | ' |
Vested stock options and warrants | 2,793 | ' | 2,793 | ' | |
Net loss | -123,852 | ' | ' | -123,852 | |
Balance at Dec. 31, 2005 | -302,170 | 6,686 | 46,867 | -355,723 | |
Balance (in shares) at Dec. 31, 2005 | ' | 668,563 | ' | ' | |
Issuance of common 5/16 & 8/8, $.0167 (6) | [6] | 1,451 | 869 | 582 | ' |
Issuance of common 5/16 & 8/8, $.0167 (6) (in shares) | [6] | ' | 86,869 | ' | ' |
Issuance of common 10/19 & 23, $.0167 (7) | [7] | 650 | 389 | 261 | ' |
Issuance of common 10/19 & 23, $.0167 (7) (in shares) | [7] | ' | 38,906 | ' | ' |
Issuance of common 12/01, $1.67 (8) | [8] | 44,810 | 287 | 44,523 | ' |
Issuance of common 12/01, $1.67 (8) (in shares) | [8] | ' | 28,739 | ' | ' |
Vested stock options and warrants | 13,644 | ' | 13,644 | ' | |
Net loss | -273,026 | ' | ' | -273,026 | |
Balance at Dec. 31, 2006 | -514,641 | 8,231 | 105,877 | -628,749 | |
Balance (in shares) at Dec. 31, 2006 | ' | 823,077 | ' | ' | |
Issuance of common stock | [9] | 1,000 | 6 | 994 | ' |
Issuance of common stock (in shares) | [9] | ' | 599 | ' | ' |
Vested stock options and warrants | 73,907 | ' | 73,907 | ' | |
Capital contributions resulting from waivers of debt | 346,714 | ' | 346,714 | ' | |
Value of equity instruments issued with debt | 132,938 | ' | 132,938 | ' | |
Net loss | -752,415 | ' | ' | -752,415 | |
Balance at Dec. 31, 2007 | -712,497 | 8,237 | 660,430 | -1,381,164 | |
Balance (in shares) at Dec. 31, 2007 | ' | 823,676 | ' | ' | |
Issuance of common stock | [10] | 1,593,502 | 45,528 | 1,547,974 | ' |
Issuance of common stock (in shares) | [10] | ' | 4,552,862 | ' | ' |
Shares issued to finders, agents | 0 | 20,127 | -20,127 | ' | |
Shares issued to finders, agents (in shares) | ' | 2,012,690 | ' | ' | |
Shares issued to pay direct legal fees | 0 | 2,857 | -2,857 | ' | |
Shares issued to pay direct legal fees (in shares) | ' | 285,714 | ' | ' | |
Issuance of common due to anti-dilution provisions | 0 | 2,059 | -2,059 | ' | |
Issuance of common due to anti-dilution provisions (in shares) | ' | 205,899 | ' | ' | |
Shares issued to pay investor relations services 6/23/08, $.35 | 87,500 | 2,500 | 85,000 | ' | |
Shares issued to pay investor relations services 6/23/08, $.35 (in shares) | ' | 250,000 | ' | ' | |
Vested stock options and warrants | 354,994 | ' | 354,994 | ' | |
Capital contributions resulting from waivers of debt | 129,684 | ' | 129,684 | ' | |
Net loss | -1,762,628 | ' | ' | -1,762,628 | |
Balance at Dec. 31, 2008 | -309,445 | 81,308 | 2,753,039 | -3,143,792 | |
Balance (in shares) at Dec. 31, 2008 | ' | 8,130,841 | ' | ' | |
Issuance of common stock | 0 | 1,250 | -1,250 | ' | |
Issuance of common stock (in shares) | ' | 125,000 | ' | ' | |
Cumulative effect of adoption of EITF 07-5 | -479,910 | ' | -486,564 | 6,654 | |
Vested stock options and warrants | 111,835 | ' | 111,835 | ' | |
Shares issued under PMM in 2009, $.50 | 1,073,905 | 21,478 | 1,052,427 | ' | |
Shares issued under PMM in 2009, $.50 (in shares) | ' | 2,147,810 | ' | ' | |
Capital contributions resulting from waivers of debt | 84,600 | ' | 84,600 | ' | |
Value of equity-linked financial instruments issued in connection with PPMs | -222,296 | ' | -222,296 | ' | |
Shares issued to consultant for fund raising | 0 | 300 | -300 | ' | |
Shares issued to consultant for fund raising (in shares) | ' | 30,000 | ' | ' | |
Shares issued upon conversion of debt and interest, $.27 | 256,454 | 9,354 | 247,100 | ' | |
Shares issued upon conversion of debt and interest, $.27 (in shares) | ' | 935,446 | ' | ' | |
Shares issued upon conversion of shareholder note, $.35 | 4,906 | 140 | 4,766 | ' | |
Shares issued upon conversion of shareholder note, $.35 (in shares) | ' | 14,024 | ' | ' | |
Value of equity instruments issued with debt | 30,150 | ' | 30,150 | ' | |
Net loss | -2,892,230 | ' | ' | -2,892,230 | |
Balance at Dec. 31, 2009 | -2,342,030 | 113,830 | 3,573,507 | -6,029,368 | |
Balance (in shares) at Dec. 31, 2009 | ' | 11,383,121 | ' | ' | |
Vested stock options and warrants | 11,382 | ' | 11,382 | ' | |
Shares issued in 2010 under PPM, $.50 | 177,275 | 3,546 | 173,729 | ' | |
Shares issued in 2010 under PPM, $.50 (in shares) | ' | 354,550 | ' | ' | |
Shares issued to consultants for IR and consulting, $.50 | 187,045 | 3,741 | 183,304 | ' | |
Shares issued to consultants for IR and consulting, $.50 (in shares) | ' | 374,090 | ' | ' | |
Value of equity instruments issued for consulting services | 354,602 | ' | 354,602 | ' | |
Value of equity instruments issued for consulting services (in shares) | -25,553 | ' | -25,553 | ' | |
Shares issued in May 2010 to consultant, $.50 | 6,425 | 129 | 6,296 | ' | |
Shares issued in May 2010 to consultant, $.50 (in shares) | ' | 12,850 | ' | ' | |
Shares issued in May 2010 to 2008 investors as a penalty for late registration, $.50 | 355,124 | 7,102 | 348,022 | ' | |
Shares issued in May 2010 to 2008 investors as a penalty for late registration, $.50 (in shares) | ' | 710,248 | ' | ' | |
Value of equity instruments issued with debt | 119,474 | ' | 119,474 | ' | |
Value of equity-linked financial instruments issued in connection with PPM in second quarter | -31,332 | ' | -31,332 | ' | |
Value of equity-linked financial instruments issued in connection with PPM in third quarter | -31,506 | ' | -31,506 | ' | |
Shares issued in September 2010 under PPM, $.10 | 25,000 | 2,500 | 22,500 | ' | |
Shares issued in September 2010 under PPM, $.10 (in shares) | ' | 250,000 | ' | ' | |
Shares issued to consultants in third quarter at $.22 per share | 107,549 | 4,889 | 102,660 | ' | |
Shares issued to consultants in third quarter at $.22 per share (in shares) | ' | 488,860 | ' | ' | |
Shares issued, November 2010, upon exercise of warrants at $.135 per share | 17,357 | 1,286 | 16,071 | ' | |
Shares issued, November 2010, upon exercise of warrants at $.135 per share (in shares) | ' | 128,571 | ' | ' | |
Shares issued in November 2010 to directors as compensation at $.15 per share | 45,000 | 3,000 | 42,000 | ' | |
Shares issued in November 2010 to directors as compensation at $.15 per share (in shares) | ' | 300,000 | ' | ' | |
Vested stock options in fourth quarter | 161,107 | ' | 161,107 | ' | |
Equity instruments issued to consultants in fourth quarter | 26,234 | ' | 26,234 | ' | |
Net loss | -1,352,709 | ' | ' | -1,352,709 | |
Balance at Dec. 31, 2010 | -2,189,557 | 140,023 | 5,052,497 | -7,382,077 | |
Balance (in shares) at Dec. 31, 2010 | ' | 14,002,290 | ' | ' | |
Value of equity instruments issued with debt | 47,908 | ' | 47,908 | ' | |
Equity instruments issued to consultants in first quarter | 91,504 | ' | 91,504 | ' | |
Shares issued at $.075 per share under PPM | 400,000 | 53,334 | 346,666 | ' | |
Shares issued at $.075 per share under PPM (in shares) | ' | 5,333,334 | ' | ' | |
Shares issued at $.085 per share under PPM | 160,000 | 18,823 | 141,177 | ' | |
Shares issued at $.085 per share under PPM (in shares) | ' | 1,882,353 | ' | ' | |
Shares issued at $.09 per share under PPM | 18,000 | 2,000 | 16,000 | ' | |
Shares issued at $.09 per share under PPM (in shares) | ' | 200,000 | ' | ' | |
Shares issued at $.10 per share under PPM | 15,000 | 1,500 | 13,500 | ' | |
Shares issued at $.10 per share under PPM (in shares) | ' | 150,000 | ' | ' | |
Stock issued upon conversion of debt in first quarter | 20,000 | 4,160 | 15,840 | ' | |
Stock issued upon conversion of debt in first quarter (in shares) | ' | 416,010 | ' | ' | |
Stock issued to pay interest on debt | 22,500 | 1,580 | 20,920 | ' | |
Stock issued to pay interest on debt (in shares) | ' | 158,036 | ' | ' | |
Shares issued at $.07 per share under PPM | 75,000 | 10,715 | 64,285 | ' | |
Shares issued at $.07 per share under PPM (in shares) | ' | 1,071,429 | ' | ' | |
Stock issued upon conversion of debt and interest | 32,000 | 9,410 | 22,590 | ' | |
Stock issued upon conversion of debt and interest (in shares) | ' | 941,034 | ' | ' | |
Equity instruments issued to consultants | 12,256 | ' | 12,256 | ' | |
Equity instruments issued to consultants | 147,116 | ' | 147,116 | ' | |
Shares issued at $.06 per share under PPM | 210,000 | 35,000 | 175,000 | ' | |
Shares issued at $.06 per share under PPM (in shares) | ' | 3,500,000 | ' | ' | |
Shares issued at $.20 per share under PPM | 275,000 | 13,750 | 261,250 | ' | |
Shares issued at $.20 per share under PPM (in shares) | ' | 1,375,000 | ' | ' | |
Restricted stock issued to consultants | 55,000 | 8,228 | 46,772 | ' | |
Restricted stock issued to consultants (in shares) | ' | 822,842 | ' | ' | |
Shares issued at $.35 per share IR compensation | 201,250 | 5,750 | 195,500 | ' | |
Shares issued at $.35 per share IR compensation (in shares) | ' | 575,000 | ' | ' | |
Equity instruments upon conversion of Accounts Payable | 20,000 | ' | 20,000 | ' | |
Shares issued to private investor at $.15 per share | 232,000 | 15,467 | 216,533 | ' | |
Shares issued to private investor at $.15 per share (in shares) | ' | 1,546,667 | ' | ' | |
Vested stock options and warrants | 1,937,638 | ' | 1,937,638 | ' | |
Shares issued upon exercise of stock options at $.01 | 1,000 | 1,000 | ' | ' | |
Shares issued upon exercise of stock options at $.01 (in shares) | ' | 100,000 | ' | ' | |
Net loss | -4,486,879 | ' | ' | -4,486,879 | |
Balance at Dec. 31, 2011 | -2,703,264 | 320,740 | 8,844,952 | -11,868,956 | |
Balance (in shares) at Dec. 31, 2011 | ' | 32,074,000 | ' | ' | |
Vested stock options and warrants | 830,372 | ' | 830,372 | ' | |
Value of equity instruments issued with debt | 33,469 | ' | 33,469 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.1342 per share | 8,000 | 596 | 7,404 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.1342 per share (in shares) | ' | 59,613 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at$.13 per share | 14,000 | 1,077 | 12,923 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at$.13 per share (in shares) | ' | 107,692 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.088 per share | 15,000 | 1,705 | 13,295 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.088 per share (in shares) | ' | 170,455 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share | 16,000 | 3,433 | 12,567 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share (in shares) | ' | 343,348 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share | 12,000 | 2,690 | 9,310 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share (in shares) | ' | 269,058 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share | 10,000 | 2,687 | 7,313 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0446 per share (in shares) | ' | 268,670 | ' | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0397 per share | 8,500 | 4,282 | 4,218 | ' | |
Shares issued to institutional investor upon conversion of Note Payable at $.0397 per share (in shares) | ' | 428,212 | ' | ' | |
Shares issued to a private investor at $.065 per share | 600,000 | 92,308 | 507,692 | ' | |
Shares issued to a private investor at $.065 per share (in shares) | ' | 9,230,770 | ' | ' | |
Shares issued for consulting to the then interim CEO at $.065 per share | 19,500 | 3,000 | 16,500 | ' | |
Shares issued for consulting to the then interim CEO at $.065 per share (in shares) | ' | 300,000 | ' | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.0286 per share | 10,000 | 3,497 | 6,503 | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.0286 per share (in shares) | ' | 349,650 | ' | ' | |
Shares issued to a private investor at $.15 per share | 39,500 | 2,633 | 36,867 | ' | |
Shares issued to a private investor at $.15 per share (in shares) | ' | 263,333 | ' | ' | |
Stock issued upon conversion of debt at $.15 per share | 493,884 | 32,926 | 460,958 | ' | |
Stock issued upon conversion of debt at $.15 per share (in shares) | ' | 3,292,557 | ' | ' | |
Stock issued upon conversion of debt at $.065 per share | 185,299 | 28,508 | 156,791 | ' | |
Stock issued upon conversion of debt at $.065 per share (in shares) | ' | 2,850,754 | ' | ' | |
Shares issued to a private investor per a convertible note default at $.15 per share | 1,125,000 | 75,000 | 1,050,000 | ' | |
Shares issued to a private investor per a convertible note default at $.15 per share (in shares) | ' | 7,500,000 | ' | ' | |
Shares issued to private investor upon conversion of Note payable at $.18 per share | 57,042 | 3,169 | 53,873 | ' | |
Shares issued to private investor upon conversion of Note payable at $.18 per share (in shares) | ' | 316,898 | ' | ' | |
Shares issued to private investor upon conversion of Note payable at $.052 per share | 59,534 | 11,471 | 48,063 | ' | |
Shares issued to private investor upon conversion of Note payable at $.052 per share (in shares) | ' | 1,147,078 | ' | ' | |
Shares issued to private investor upon conversion of Note payable at $.10 per share | 56,584 | 5,658 | 50,926 | ' | |
Shares issued to private investor upon conversion of Note payable at $.10 per share (in shares) | ' | 565,834 | ' | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.031 per share | 12,000 | 3,871 | 8,129 | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.031 per share (in shares) | ' | 387,097 | ' | ' | |
Stock issued upon conversion of debt at $.15 per share | 59,590 | 3,973 | 55,617 | ' | |
Stock issued upon conversion of debt at $.15 per share (in shares) | ' | 397,267 | ' | ' | |
Shares issued to a Director as compensation at $.09 per share | 25,000 | 2,778 | 22,222 | ' | |
Shares issued to a Director as compensation at $.09 per share (in shares) | ' | 277,778 | ' | ' | |
Shares issued under PPM at $.07 per share | 690,946 | 98,707 | 592,239 | ' | |
Shares issued under PPM at $.07 per share (in shares) | ' | 9,870,666 | ' | ' | |
Shares issued to institutional investor upon conversion of Note payable at $.0353 per share | 18,000 | 5,099 | 12,901 | ' | |
Shares issued to institutional investor upon conversion of Note payable at $.0353 per share (in shares) | ' | 509,915 | ' | ' | |
Shares issued to private investor upon conversion of Note payable at $.032 per share | 9,022 | 2,837 | 6,185 | ' | |
Shares issued to private investor upon conversion of Note payable at $.032 per share (in shares) | ' | 283,718 | ' | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.0297 per share including $11,021 of interest. | 33,021 | 7,407 | 25,614 | ' | |
Shares issued to an institutional investor upon conversion of Note Payable at $.0297 per share including $11,021 of interest. (in shares) | ' | 740,741 | ' | ' | |
Shares issued at $.15 per share as Investor Relations compensation | 93,750 | 6,250 | 87,500 | ' | |
Shares issued at $.15 per share as Investor Relations compensation (in shares) | ' | 625,000 | ' | ' | |
Shares issued to a private investor upon conversion of Note payable at $.032 per share | 50,000 | 15,723 | 34,277 | ' | |
Shares issued to a private investor upon conversion of Note payable at $.032 per share (in shares) | ' | 1,572,327 | ' | ' | |
Shares issued as settlement to remove anti-dilution agreement at $.065 per share | 1,722,500 | 265,000 | 1,457,500 | ' | |
Shares issued as settlement to remove anti-dilution agreement at $.065 per share (in shares) | ' | 26,500,000 | ' | ' | |
Shares issued in settlement with former COO at $.15 per share less shares cancelled at $.09 per share | 142,333 | 8,037 | 134,296 | ' | |
Shares issued in settlement with former COO at $.15 per share less shares cancelled at $.09 per share (in shares) | ' | 803,701 | ' | ' | |
Equity value for options and warrants | 150,189 | ' | 150,189 | ' | |
Shares issued at $.07 per share as Investor Relations compensation | 21,000 | 3,000 | 18,000 | ' | |
Shares issued at $.07 per share as Investor Relations compensation (in shares) | ' | 300,000 | ' | ' | |
Shares issued at $.15 per share as conversion of debt | 23,563 | 1,571 | 21,992 | ' | |
Shares issued at $.15 per share as conversion of debt (in shares) | ' | 157,088 | ' | ' | |
Shares issued to a private investor exercising options at $.01 per share | 718 | 718 | ' | ' | |
Shares issued to a private investor exercising options at $.01 per share (in shares) | ' | 71,826 | ' | ' | |
Shares issued to debtors as compensation at $.10 per share | 156,243 | 15,630 | 140,613 | ' | |
Shares issued to debtors as compensation at $.10 per share (in shares) | ' | 1,563,031 | ' | ' | |
Shares issued upon conversion of Note Payable at $.07 per share | 16,526 | 2,361 | 14,165 | ' | |
Shares issued upon conversion of Note Payable at $.07 per share (in shares) | ' | 236,092 | ' | ' | |
Share true-up to certified shareholders list per the stock transfer agency | 1 | 1 | ' | ' | |
Share true-up to certified shareholders list per the stock transfer agency (in shares) | ' | 100 | ' | ' | |
Shares issued upon exercise of stock options at $.01 | 4,130 | 4,130 | ' | ' | |
Shares issued upon exercise of stock options at $.01 (in shares) | ' | 412,963 | ' | ' | |
Net loss | -7,422,155 | ' | ' | -7,422,155 | |
Balance at Dec. 31, 2012 | -3,303,203 | 1,042,473 | 14,945,435 | -19,291,111 | |
Balance (in shares) at Dec. 31, 2012 | ' | 104,247,228 | ' | ' | |
Value of equity instruments issued with debt | 392,556 | ' | 392,556 | ' | |
Shares issued to debtors as compensation at $.15 per share | 43,521 | 2,901 | 40,620 | ' | |
Shares issued to debtors as compensation at $.15 per share (in shares) | ' | 290,143 | ' | ' | |
Shares issued under PPM to five investors at $.07 per share | 500,000 | 71,429 | 428,571 | ' | |
Shares issued under PPM to five investors at $.07 per share (in shares) | ' | 7,142,857 | ' | ' | |
Shares issued to an escrow account underlying a debt agreement (11) | [11] | 10,000 | 10,000 | ' | ' |
Shares issued to an escrow account underlying a debt agreement (11) (in shares) | [11] | ' | 1,000,000 | ' | ' |
Shares issued to debtors as compensation at $.15 per share | 34,550 | 2,303 | 32,247 | ' | |
Shares issued to debtors as compensation at $.15 per share (in shares) | ' | 230,332 | ' | ' | |
Shares issued to an institutional investor at $.07 per share | 500,000 | 71,429 | 428,571 | ' | |
Shares issued to an institutional investor at $.07 per share (in shares) | ' | 7,142,858 | ' | ' | |
Value of shares per an agreement with a former officer (12) | [12] | 40,480 | ' | 40,480 | ' |
Vesting expense | 1,585,518 | ' | 1,585,518 | ' | |
Shares issued to consultant as compensation at $.067 per share | 16,750 | 2,500 | 14,250 | ' | |
Shares issued to consultant as compensation at $.067 per share (in shares) | ' | 250,000 | ' | ' | |
Shares issued to former consultant exercising options at $.01 per share | 2,000 | 2,000 | 0 | ' | |
Shares issued to former consultant exercising options at $.01 per share, (in shares) | ' | 200,000 | ' | ' | |
Shares issued to former CEO exercising options at $.01 per share | 3,333 | 3,333 | 0 | ' | |
Shares issued to former CEO exercising options at $.01 per share, (in shares) | ' | 333,330 | ' | ' | |
Shares issued upon conversion of four notes payable at $.15 per share | 156,243 | 10,416 | 145,827 | ' | |
Shares issued upon conversion of four notes payable at $.15 per share, (in shares) | ' | 1,041,622 | ' | ' | |
Shares issued for interest to the four notes payable at $.15 per share | 11,170 | 745 | 10,425 | ' | |
Shares issued for interest to the four notes payable at $.15 per share, (in shares) | ' | 74,462 | ' | ' | |
Shares issued for cashless exercise of warrants at $.12 per share | 2,778 | 2,778 | ' | ' | |
Shares issued for cashless exercise of warrants at $.12 per share (in shares) | ' | 277,778 | ' | ' | |
Shares issued for cashless exercise of warrants at $.16 per share | 1,633 | 1,633 | ' | ' | |
Shares issued for cashless exercise of warrants at $.16 per share (in shares) | ' | 163,334 | ' | ' | |
Shares issued for cashless exercise of warrants at $.15 per share | 6,327 | 6,327 | ' | ' | |
Shares issued for cashless exercise of warrants at $.15 per share (in shares) | ' | 632,708 | ' | ' | |
Shares issued for cashless exercise of warrants at $.20 per share | 2,618 | 2,618 | ' | ' | |
Shares issued for cashless exercise of warrants at $.20 per share (in shares) | ' | 261,848 | ' | ' | |
Shares issued to 24 warrant holders exercised at a reduced price for $.10 per share | 1,044,490 | 104,449 | 940,041 | ' | |
Shares issued to 24 warrant holders exercised at a reduced price for $.10 per share (in shares) | ' | 10,444,898 | ' | ' | |
Shares issued to 4 PPM investors converting notes at $.12 per share | 316,504 | 26,375 | 290,129 | ' | |
Shares issued to 4 PPM investors converting notes at $.12 per share (in shares) | ' | 2,637,534 | ' | ' | |
Shares issued to 10 PPM investors converting notes at $.18 per share | 1,020,200 | 54,054 | 966,146 | ' | |
Shares issued to 10 PPM investors converting notes at $.18 per share (in shares) | ' | 5,405,431 | ' | ' | |
Shares issued to consultant as compensation at $.38 per share | 57,000 | 1,500 | 55,500 | ' | |
Shares issued to consultant as compensation at $.38 per share (in shares) | ' | 150,000 | ' | ' | |
Shares issued for two note conversions at $.014 per share | 994,928 | 710,663 | 284,265 | ' | |
Shares issued for two note conversions at $.014 per share (in shares) | ' | 71,066,331 | ' | ' | |
Shares issued for warrant exercise at $.15 per share | 160,715 | 10,715 | 150,000 | ' | |
Shares issued for warrant exercise at $.15 per share (in shares) | ' | 1,071,429 | ' | ' | |
Shares issued cashless exercise of warrants at $.075 | 45,280 | 45,280 | ' | ' | |
Shares issued cashless exercise of warrants at $.075 (in shares) | ' | 4,527,947 | ' | ' | |
Shares issued to an investor for a cashless exercise of warrants at $.17 per share | 2,044 | 2,044 | ' | ' | |
Shares issued to an investor for a cashless exercise of warrants at $.17 per share (in shares) | ' | 204,306 | ' | ' | |
Shares issued to one investor for cashless warrant exercise at $.075 per share | 2,310 | 2,310 | ' | ' | |
Shares issued to one investor for cashless warrant exercise at $.075 per share (in shares) | ' | 231,023 | ' | ' | |
Shares issued to former Board Directors as compensation at $.325 per share | 100,000 | 1,000 | 99,000 | ' | |
Shares issued to former Board Directors as compensation at $.325 per share (in shares) | ' | 100,000 | ' | ' | |
Reduced warrant exercise compensation expense | 2,140,946 | ' | 2,140,946 | ' | |
Options issued as part of employee bonus | 147,500 | ' | 147,500 | ' | |
Shares issued to one investor for cashless warrant exercised at $.12 per share | 2,778 | 2,778 | ' | ' | |
Shares issued to one investor for cashless warrant exercised at $.12 per share (in shares) | ' | 277,778 | ' | ' | |
Shares issued for cashless warrant exercise at $.13 per share | 2,348 | 2,348 | ' | ' | |
Shares issued for cashless warrant exercise at $.13 per share (in shares) | ' | 234,844 | ' | ' | |
Net loss | -7,251,965 | ' | ' | -7,251,965 | |
Balance at Sep. 30, 2013 | ($1,208,648) | $2,196,401 | $23,138,027 | ($26,543,076) | |
Balance (in shares) at Sep. 30, 2013 | ' | 219,640,021 | ' | ' | |
[1] | Founders shares, 1,000,000 pre-split | ||||
[2] | 23,492 (40,000 pre-split) shares valued at $.0167 per share as compensation for loan guarantees by management | ||||
[3] | Investment including 670 shares issued as a 10% finder’s fee | ||||
[4] | For payment of patent legal fees | ||||
[5] | Compensation for loan guarantees by management | ||||
[6] | For vendor contractual consideration | ||||
[7] | Employment agreements | ||||
[8] | Investment | ||||
[9] | Conversion of convertible notes by management | ||||
[10] | Investment, "October 2008 financing". | ||||
[11] | The shares reduce by 1/3 yearly and are returned to the Company as the debt is paid. | ||||
[12] | The Company purchased shares previously issued to a former officer equal to the cost of withholding taxes advanced by the Company. The value here represents the net pay from the transaction that was retained by the Company. |
STATEMENT_OF_STOCKHOLDERS_DEFI1
STATEMENT OF STOCKHOLDERS' DEFICIT [Parenthetical] (USD $) | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | |
Issuance of common stock to Founders , par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 |
Issuance of common stock new issues, par value | ' | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | $1.67 |
Issuance of common stock, compensation for loan guarantees by management, par value | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | $0.02 | ' |
Issuance of common stock, investment including finders fee, par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.67 | ' |
Issuance of common stock, payment of patent legal fees, par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' |
Issuance of common stock, vendor contractual consideration, par value | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | ' |
Issuance of common stock, employment agreements, par value | ' | ' | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | ' |
Issuance of common stock, investment, par value | ' | ' | ' | ' | ' | ' | ' | $1.67 | ' | ' | ' | ' |
Issuance of common stock, conversion of convertible securities, par value | ' | ' | ' | ' | $0.35 | ' | $1.67 | ' | ' | ' | ' | ' |
Issuance of common stock, investor relations, par value | ' | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PMM in 2009 | ' | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM in May 2009, par value | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock upon conversion of debt and interest, par value | ' | ' | ' | ' | $0.27 | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM in March 2010, par value | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to consultants for IR and consulting, par value | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to consultants, in May 2010, par value | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock in May 2010 to 2008 investors as a penalty for late registration | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM in September 2010, par value | ' | ' | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to consultants, in third quarter, par value | ' | ' | ' | $0.22 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, upon exercise of warrants | ' | ' | ' | $0.14 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, to directors as compensation | ' | $0.09 | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM one in first quarter | ' | ' | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM two in first quarter | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM three in first quarter | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM four in first quarter | ' | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM two in second quarter | ' | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM one in third quarter | ' | ' | $0.06 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM three in third quarter | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under exercise of stock options | ' | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under IR compensation | ' | $0.15 | $0.35 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, to private investor in fourth quarter | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable one | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable two | ' | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable three | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable four | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable five | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable six | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable seven | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to a private investor in the first quarter | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to the now Interim CEO in the first quarter for consulting | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable Eight | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable one | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to a private investor in the second quarter one | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued upon exercise of options | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to a private investor in the second quarter two | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, conversion of debt, par value one | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, conversion of debt, par value two | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable two | ' | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable three | ' | $0.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable four | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable five | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable Nine | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, conversion of debt, par value three | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, under PPM one in second quarter | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable Ten | ' | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to private investor upon conversion of Note Payable six | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to institutional investor upon conversion of Note Payable Eleven | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion Converted Instrument Shares Issued Value | ' | $11,021 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued as settlement to remove anti-dilution agreement | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued in settlement with former COO | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to debtors compensation | ' | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock to conversion of note payable | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Common Stock To Debtors Compensation One | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued under PPM to five investors | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Common Stock To Debtors Compensation Two | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued to an institutional investor at per share | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance Of Common Stock To Debtors Compensation Three | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued to former consultant exercising option, Par value | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued to former CEO exercising option, par value | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued upon conversion of four notes payable, par value | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued for interest to the four notes payable, par value | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Cashless Exercise Of Warrants Par Value One | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Cashless Exercise Of Warrants Par Value Two | $0.16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Cashless Exercise Of Warrants Par Value Three | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Cashless Exercise Of Warrants Par Value Four | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Twenty Four Warrant Holders Exercised At Reduced Par Value | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Four PPM Investors Converting Notes Par Value | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Eleven PPM Investors Converting Notes Par Value | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Consultant As Compensation Par Value | $0.38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Two Note Conversions Par Value | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Exercise Of Warrants Par Value | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Cashless Exercise Of Warrants Par Value | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Investor For Cashless Exercise Of Warrants Par Value | $0.17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To One Investor For Cashless Exercise Of Warrants Par Value One | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To Former Board Directors As Compensation Par Value | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued To One Investor For Cashless Exercise Of Warrants Par Value Two | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued For Cashless Exercise Of Warrants Par Value Five | $0.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CONDENSED_STATEMENTS_OF_CASH_F
CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 137 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Cash flow from operating activities: | ' | ' | ' |
Net loss | ($7,251,965) | ($5,704,855) | ($26,543,076) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Depreciation and amortization | 156,409 | 768 | 167,053 |
Compensation Expense for stock options and warrants | 3,791,802 | 663,770 | 7,289,474 |
Equity instruments issued for management and consulting | 137,230 | 3,775,250 | 5,926,998 |
Stock-based registration payments | 0 | 0 | 355,124 |
Capital contributions resulting from waivers of debt | 0 | 0 | 476,398 |
Amortization of debt discount | 413,695 | 45,187 | 756,497 |
(Gain) loss on valuation of equity-linked instruments | -153,960 | -78,275 | -782,030 |
Changes in assets and liabilities: | ' | ' | ' |
Accounts receivable | -43,480 | 10,475 | -83,191 |
Inventories | 44,142 | -36,811 | -101,067 |
Prepaid expense and other assets | -7,053 | 7,141 | -34,462 |
Notes payable to shareholders | ' | 0 | -14,957 |
Accounts payable | 3,012 | 387,294 | 1,721,851 |
Accrued expenses | -430,998 | 149,347 | 1,286,691 |
Deferred Revenue | 5,000 | 0 | 5,000 |
Net cash used in operating activities | -3,336,166 | -780,709 | -9,573,697 |
Cash flow from investing activities: | ' | ' | ' |
Purchase of fixed assets | -49,791 | 0 | -62,049 |
Purchase of intangibles | -52,074 | 0 | -194,569 |
Net cash used in investing activities | -101,865 | 0 | -256,618 |
Cash flow from financing activities: | ' | ' | ' |
Proceeds from long-term and convertible debt | 1,542,718 | 372,284 | 3,655,209 |
Repayment of convertible debt | ' | -50,000 | -250,000 |
Principal payments on long-term debt | ' | 0 | -75,667 |
Issuance of common stock | 2,210,536 | 437,576 | 6,829,135 |
Net cash provided by financing activities | 3,753,254 | 759,860 | 10,158,677 |
Net increase (decrease) in cash | 315,223 | -20,849 | 328,362 |
Cash at beginning of period | 13,139 | 122,985 | 0 |
Cash at end of period | 328,362 | 102,136 | 328,362 |
Non cash transactions: | ' | ' | ' |
Conversion of debt to accrued liabilities | 415,775 | ' | 515,775 |
Common Stock/Options issued for accrued liabilities | 395,304 | 99,784 | 613,474 |
Conversion of accounts payable to convertible debt | 0 | 0 | 546,600 |
Common stock issued to satisfy debt | 2,318,568 | 807,800 | 3,538,935 |
Stock/warrant issued to satisfy accounts payable/liabilities | $100,521 | $395,078 | $539,165 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Significant Accounting Policies [Text Block] | ' | |||||||
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||
Nature of Operations and Continuance of Operations | ||||||||
Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. The Company has developed an environmentally safe system for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care. The Company also makes ongoing sales of our proprietary cleaning fluid to users of our systems. In April 2009, the Company received 510(k) clearance from the FDA to authorize the Company to market and sell its STREAMWAY® FMS products. | ||||||||
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and has a stockholders’ deficit. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. | ||||||||
Since inception to September 30, 2013, the Company has raised approximately $6,829,000 in equity and $3,655,000 in debt financing, including $2,211,000 in equity and $1,543,000 in convertible debt in 2013. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources”. | ||||||||
Recent Accounting Developments | ||||||||
We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. | ||||||||
Valuation of Intangible Assets | ||||||||
We review identifiable intangible assets for impairment in accordance with ASC 350- Intangibles – Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. | ||||||||
Our accounting estimates and assumptions bear various risks of change, including the length of the current economic downturn facing the United States, the expansion of the slowdown in consumer spending in the U.S. medical markets despite the early expressed opinions of financial experts that the medical market would not be as affected as other markets and failure to gain acceptance in the medical market. | ||||||||
Accounting Policies and Estimates | ||||||||
The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||
Presentation of Taxes Collected from Customers | ||||||||
Sales taxes are imposed on the Company’s sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company’s accounting policy is to exclude the taxes collected and remitted from revenues and expenses. | ||||||||
Shipping and Handling | ||||||||
Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. | ||||||||
Advertising | ||||||||
Advertising costs are expensed as incurred. There were no advertising expenses in the three and nine months ended September 30, 2013 and September 30, 2012. | ||||||||
Research and Development | ||||||||
Research and development costs are charged to operations as incurred. Research and development expenses were $73,621 and $4,818 for the three months ended September 30, 2013 and September 30, 2012, and $207,162 in the nine months ended September 30, 2013 and $4,818 for the nine months ended September 30, 2012. | ||||||||
Revenue Recognition | ||||||||
The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. | ||||||||
Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company’s standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. The Company recognizes revenue for trial base units when the customer signs our Terms and Conditions contract for the purchase of the trial unit. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company’s standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer’s right of return is limited only to the Company’s standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. | ||||||||
Receivables | ||||||||
Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. | ||||||||
Inventories | ||||||||
Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Finished goods | $ | 85,958 | $ | 91,008 | ||||
Raw materials | 15,109 | 39,543 | ||||||
Work-In-Process | 0 | 14,658 | ||||||
Total | $ | 101,067 | $ | 145,209 | ||||
Property and Equipment | ||||||||
Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: | ||||||||
Years | ||||||||
Computers and office equipment | 3 | |||||||
Furniture and fixtures | 5 | |||||||
Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. | ||||||||
Intangible Assets | ||||||||
Intangible assets consist of patent costs. These assets are not subject to amortization until the property patented is in production. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. The Company wrote off the entire STREAMWAY I product patent of $140,588 in June 2013. The balance represented intellectual property in the form of patents for our STREAMWAY I product. The Company’s new STREAMWAY II product has a new provisional patent. See “Patents and Intellectual Property”. | ||||||||
Income Taxes | ||||||||
The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. | ||||||||
The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. | ||||||||
Tax years subsequent to 2009 remain open to examination by federal and state tax authorities. | ||||||||
Patents and Intellectual Property | ||||||||
On January 25, 2013, the Company filed a U.S. Provisional Patent Application, number 61756763. The provisional patent application is for a new model of the surgical fluid waste management system that has embodiments, based on our patent attorney’s recommendations that are patentable over all prior art and will not infringe on any existing patents. This provisional patent adds features that are novel and non-obvious over all the Company’s previously filed applications. | ||||||||
Subsequent Events | ||||||||
The former CEO and the Company had a dispute concerning stock options negated under the former CEO’s settlement agreement. The Company and the former CEO have entered into an amended settlement agreement whereby he will retain the 333,330 shares of common stock already exercised and the right to exercise options with respect to an additional 325,187 shares of common stock (as adjusted for two past reverse stock splits) at $.01 per share. Additionally, the Company agreed to pay the former CEO $20,000 in cash in two installments. In exchange the former CEO agreed to relinquish warrants to purchase an aggregate 800,000 shares of common stock. The settlement agreement was signed in September 2013, and the final payment was remitted in October 2013. | ||||||||
The Company has evaluated all other subsequent events through the date of this filing. The Company does not believe there are any other subsequent events that required disclosure. | ||||||||
Interim Financial Statements | ||||||||
The Company has prepared the unaudited interim financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. These interim financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly the Company’s financial position, the results of its operations and its cash flows for the interim periods. These interim financial statements should be read in conjunction with the annual financial statements and the notes thereto contained in the Form 10-K filed with the SEC on March 22, 2013. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. | ||||||||
DEVELOPMENT_STAGE_OPERATIONS
DEVELOPMENT STAGE OPERATIONS | 9 Months Ended |
Sep. 30, 2013 | |
Development Stage Enterprises [Abstract] | ' |
Development Stage Enterprise General Disclosures [Text Block] | ' |
NOTE 2 – DEVELOPMENT STAGE OPERATIONS | |
The Company was formed April 23, 2002. Since inception to November 6, 2013, 221,068,939 shares of common stock have been issued between par value and $1.67. Operations since incorporation have been devoted to raising capital, obtaining financing, development of the Company’s product, and administrative services. | |
STOCKHOLDERS_DEFICIT_STOCK_OPT
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||||
NOTE 3 – STOCKHOLDERS’ DEFICIT, STOCK OPTIONS AND WARRANTS | ||||||||||||||
In connection with the financing completed in October 2008, the Company has effected two reverse stock splits, one on June 6, 2008 and another on October 20, 2008. In accordance with SAB Topic 4C, all stock options and warrants and their related exercise prices are stated at their post-reverse stock split values. | ||||||||||||||
The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three years. Options under this plan have terms ranging from three to ten years. | ||||||||||||||
Accounting for share-based payment | ||||||||||||||
The Company has adopted ASC 718- Compensation-Stock Compensation ("ASC 718"). Under ASC 718 stock-based employee compensation cost is recognized using the fair value based method for all new awards granted after January 1, 2006 and unvested awards outstanding at January 1, 2006. Compensation costs for unvested stock options and non-vested awards that were outstanding at January 1, 2006, are being recognized over the requisite service period based on the grant-date fair value of those options and awards, using a straight-line method. We elected the modified-prospective method under which prior periods are not retroactively restated. | ||||||||||||||
ASC 718 requires companies to estimate the fair value of stock-based payment awards on the date of grant using an option-pricing model or other acceptable means. The Company uses the Black-Scholes option valuation model which requires the input of significant assumptions including an estimate of the average period of time employees will retain vested stock options before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related expense recognized. The assumptions the Company uses in calculating the fair value of stock-based payment awards represent the Company's best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based compensation expense could be materially different in the future. | ||||||||||||||
Since the Company's common stock has no significant public trading history, and the Company has experienced no significant option exercises in its history, the Company is required to take an alternative approach to estimating future volatility and estimated life and the future results could vary significantly from the Company's estimates. The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. In the case of ordinary options to employees the Company determined the expected life to be the midpoint between the vesting term and the legal term. In the case of options or warrants granted to non-employees, the Company estimated the life to be the legal term unless there was a compelling reason to make it shorter. | ||||||||||||||
When an option or warrant is granted in place of cash compensation for services, the Company deems the value of the service rendered to be the value of the option or warrant. In most cases, however, an option or warrant is granted in addition to other forms of compensation and its separate value is difficult to determine without utilizing an option pricing model. For that reason the Company also uses the Black-Scholes option-pricing model to value options and warrants granted to non-employees, which requires the input of significant assumptions including an estimate of the average period the investors or consultants will retain vested stock options and warrants before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options and warrants that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based consulting and/or compensation and, consequently, the related expense recognized. | ||||||||||||||
Since the Company has limited trading history in its stock and no first-hand experience with how its investors and consultants have acted in similar circumstances, the assumptions the Company uses in calculating the fair value of stock-based payment awards represent its best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based consulting and interest expense could be materially different in the future. | ||||||||||||||
Valuation and accounting for options and warrants | ||||||||||||||
The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. For grants issued during 2008, the Company used a 2.0 to 4.5% risk-free interest rate, 0% dividend rate, 53-66% volatility and estimated term of 2.5 to 7.5 years. Values computed using these assumptions ranged from $.102 per share to $.336 per share. Warrants or options awarded for services rendered are expensed over the period of service (normally the vesting period) as compensation expense for employees or an appropriate consulting expense category for awards to consultants and directors. Warrants granted in connection with a common equity financing are included in stockholders’ equity, provided that there is no re-pricing provision that requires them to be treated as a liability (See Note 8) and warrants granted in connection with a debt financing are treated as a debt discount and amortized using the interest method as interest expense over the term of the debt. | ||||||||||||||
Warrants issued in connection with the $100,000 convertible debt that closed March 1, 2007 created a debt discount of $40,242 that was amortized as additional interest over its 5-year term. Warrants issued in connection with the $170,000 convertible “bridge” debt that closed in July 2007 created a calculated debt discount of $92,700 that was fully expensed over its loan term that matured April 30, 2008. | ||||||||||||||
The Company issued $100,000 in convertible debt in October 2009 and issued a warrant, in connection with the debt, for 200,000 shares of common stock at $.65 per share. The Company determined that the warrant had an initial value of $30,150 that was treated as a debt discount and amortized as additional interest expense over the 24-month term of the note. | ||||||||||||||
The Company also issued $200,000 in convertible debt in June 2010 and issued a warrant, in connection with the debt, to purchase 1,111,112 shares of common stock at $.46 per share. The Company determined that the value of the June 2010 warrant was $96,613. This value was treated as a debt discount and amortized as additional interest expense over the 22-month term of the note. | ||||||||||||||
The Company also issued $32,000 in convertible debt in September 2010 and issued a warrant to purchase 320,000 shares of common stock at $.18 per share. The Company determined that this warrant had a value of $15,553 that was treated as a debt discount and amortized as additional interest expense over the 18-month term of the note. | ||||||||||||||
The Company also issued $16,800 in convertible debt in December 2010 and issued a warrant to purchase 200,000 shares of common stock at $.084 per share. The Company determined that this warrant had a value of $7,232 that was treated as a debt discount and amortized as additional interest expense over the 24- month term of the note. | ||||||||||||||
In January 2011, the Company issued three convertible notes of $50,000 each and also issued warrants to purchase 1,595,239 common shares at $.20 per share. The value of the warrants was determined to be $47,908 and was treated as a debt discount and amortized as additional interest expense over the 24-month term of the notes. | ||||||||||||||
For grants of stock options and warrants in 2011 the Company used a 0.34 to 2.44% risk-free interest rate, 0% dividend rate, 54-66% volatility and estimated term of 3 to 10 years. Values computed using these assumptions ranged from $0.0126 to $0.3412 per share. | ||||||||||||||
In November 2012, the Company issued four convertible notes of $27,500, $27,500, $51,243 and $50,000, respectively. The note holders were issued shares of our common stock at $.10 per share value as bonus equity in consideration for the notes. Though short term the value of the notes were treated as a debt discount with an aggregate discount of $33,469 and amortized as additional interest expense over the six month term of the notes. | ||||||||||||||
For grants of stock options and warrants in 2012 the Company used a 0.33% to 1.80% risk-free interest rate, 0% dividend rate, 54%, 59% or 66% volatility and estimated term of 3, 5 or 10 years. Value computed using these assumptions ranged from $0.0111 to $0.096 per share. | ||||||||||||||
In January 2013, in connection with a private placement offering the Company issued 8% convertible one year promissory notes in an aggregate principal amount of $300,000 convertible into 2,500,000 shares of common stock assuming a conversion rate of $.12 per share and five year warrants to purchase up to an aggregate of 2,500,000 shares of the corporation’s common stock at an exercise price of $.15 per share. The value of the notes are being treated as a debt discount with an aggregate discount of $77,644, and amortized as an additional interest expense over the twelve month term of the notes. In addition, we issued to the placement agent for these sales five year warrants to purchase an aggregate of 200,000 shares of common stock at an exercise price of $.12 per share. | ||||||||||||||
In January and March 2013, in connection with a separate and new private placement offering we issued 7,142,857 shares of common stock at $.07 per share and warrants to purchase 7,142,857 shares of common stock at $.15 per share to 5 investors in return for their $500,000 investment in the Company. | ||||||||||||||
On March 15, 2013 the Company completed the private sale of 7,142,858 shares of the Company’s common stock, par value $.01 per share, at $.07 per share for an aggregate purchase price of $500,000, warrants to purchase 7,142,858 shares of common stock at an exercise price of $.08 per share, and warrants to purchase 3,571,429 shares of common stock at an exercise price of $.15 per share. | ||||||||||||||
In April 2013, the Company issued 200,000 shares of common stock, par value $.01 per share, at $.01 per share to a former consultant exercising options; the Company issued 333,330 shares of common stock, par value $.01 per share, at $.01 per share to the former CEO exercising options. | ||||||||||||||
In May 2013, the Company converted four (4) notes totaling $156,243, plus $11,169 in interest; issued in November 2012, the noteholders received 1,116,084 shares of common stock, par value $.01, at $.10 per share. One of the noteholders was Dr. Samuel Herschkowitz who received 357,163 shares. | ||||||||||||||
In May and June 2013, in connection with a private placement offering we issued 8% convertible one year promissory notes in an aggregate principal amount of $1,000,000 convertible into 6,000,000 shares of common stock assuming a conversion rate of $.18 per share and five year warrants to purchase up to an aggregate of 4,611,111 shares of the corporation’s common stock at an exercise price of $.198 per share. The value of the notes was net of discounts of $275,640 in 2013; due in May and June 2014. In addition, we issued to the placement agent for these sales five year warrants to purchase an aggregate of 444,444 shares of common stock at an exercise price of $.18 per share. | ||||||||||||||
In August and September 2013 the Company entered into agreements with holders of certain of its outstanding warrants to purchase the Company’s common stock to amend the exercise price of the warrants to $0.10 per share in connection with the agreement of each such holder to exercise the warrants in full. Prior to the amendments, the exercise prices of such warrants ranged from $0.15 to $0.46 per share. Twenty-four warrants were exercised with a reduced exercise price, and nineteen warrants were exercised pursuant to a net exercise provision. Together, such warrant exercises resulted in aggregate cash proceeds of $1,044,490 to the Company, and the issuance of an aggregate of 10,444,898 shares of Common Stock through the reduced warrant exercise and 6,533,788 shares which were issued pursuant to a net exercise provision. | ||||||||||||||
For grants of stock options and warrants in 2013 the Company used a 0.33% to 1.80% risk-free interest rate, 0% dividend rate, 59% volatility and estimated term of 5 years. Value computed using these assumptions ranged from $0.014 to $0.037 per share. | ||||||||||||||
The following summarizes transactions for stock options and warrants for the periods indicated: | ||||||||||||||
Stock Options (1) | Warrants (1) | |||||||||||||
Average | Average | |||||||||||||
Number of | Exercise | Number of | Exercise | |||||||||||
Shares | Price | Shares | Price | |||||||||||
Outstanding at December 31, 2005 | 17,956 | $ | 1.67 | 20,950 | $ | 2.62 | ||||||||
Issued | 23,942 | 1.67 | 71,826 | 0.85 | ||||||||||
Outstanding at December 31, 2006 | 41,898 | 1.67 | 92,776 | 1.25 | ||||||||||
Issued | 5,984 | 1.67 | 28,502 | 0.35 | ||||||||||
Outstanding at December 31, 2007 | 47,882 | 1.67 | 121,278 | 1.04 | ||||||||||
Issued | 1,243,292 | 0.2 | 5,075,204 | 0.45 | ||||||||||
Expired | -11,971 | 3.76 | ||||||||||||
Outstanding at December 31, 2008 | 1,291,174 | 0.26 | 5,184,511 | 0.45 | ||||||||||
Issued | 205,000 | 0.37 | 2,188,302 | 0.65 | ||||||||||
Outstanding at December 31, 2009 | 1,496,174 | 0.27 | 7,372,813 | 0.49 | ||||||||||
Issued | 2,210,000 | 0.17 | 3,435,662 | 0.34 | ||||||||||
Expired | -207,956 | 0.43 | -8,979 | 1.67 | ||||||||||
Exercised | -128,571 | 0.46 | ||||||||||||
Outstanding at December 31, 2010 | 3,498,218 | 0.19 | 10,670,925 | 0.44 | ||||||||||
Issued | 2,483,334 | 0.01 | 18,222,243 | 0.14 | ||||||||||
Expired | -83,941 | 0.73 | -2,010,917 | 0.48 | ||||||||||
Exercised | -100,000 | 0.01 | ||||||||||||
Outstanding at December 31, 2011 | 5,797,611 | 0.11 | 26,882,251 | 0.23 | ||||||||||
Issued | 9,514,286 | 0.08 | 11,688,166 | 0.15 | ||||||||||
Expired | -2,235,368 | 0.11 | -3,366,455 | 0.5 | ||||||||||
Exercised | -412,963 | 0.01 | -71,826 | 0.01 | ||||||||||
Outstanding at December 31, 2012 | 12,663,566 | 0.09 | 35,132,136 | 0.13 | ||||||||||
Issued | 17,515,784 | 0.082 | 25,739,682 | 0.12 | ||||||||||
Expired | -1,059,995 | 0.26 | -6,811,207 | 0.19 | ||||||||||
Exercised | -533,330 | 0.01 | -18,050,115 | 0.1 | ||||||||||
Outstanding at September 30, 2013 | 28,586,025 | $ | 0.08 | 36,010,496 | $ | 0.14 | ||||||||
-1 | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. | |||||||||||||
At September 30, 2013, 27,554,925 stock options are fully vested and currently exercisable with a weighted average exercise price of $0.08 and a weighted average remaining term of 9.00 years. All warrants are fully vested and exercisable. Stock-based compensation recognized for the nine months ending September 2013 and September 2012 was $1,585,518 and $663,770, respectively. The Company has $146,538 of unrecognized compensation expense related to non-vested stock options that are expected to be recognized over a weighted average period of approximately 13 months. | ||||||||||||||
The following summarizes the status of options and warrants outstanding at September 30, 2013: | ||||||||||||||
Range of Exercise Prices | Shares | Weighted | ||||||||||||
Average | ||||||||||||||
Remaining | ||||||||||||||
Life | ||||||||||||||
Options: | ||||||||||||||
$ | 0.01 | 650,000 | 6.57 | |||||||||||
$ | 0.017 | 325,187 | 4.68 | |||||||||||
$ | 0.065 | 20,000 | 9.45 | |||||||||||
$ | 0.07 | 214,286 | 8.94 | |||||||||||
$ | 0.075 | 14,400,000 | 9.46 | |||||||||||
$ | 0.079 | 1,740,508 | 9.47 | |||||||||||
$ | 0.08 | 9,300,000 | 8.88 | |||||||||||
$ | 0.088 | 400,000 | 8.32 | |||||||||||
$ | 0.1325 | 226,415 | 9.79 | |||||||||||
$ | 0.14 | 242,857 | 9.79 | |||||||||||
$ | 0.15 | 676,666 | 7.41 | |||||||||||
$ | 0.17 | 5,000 | 9.61 | |||||||||||
$ | 0.318 | 94,338 | 10 | |||||||||||
$ | 0.33 | 100,000 | 9.99 | |||||||||||
$ | 0.3415 | 20,000 | 10 | |||||||||||
$ | 0.35 | 75,000 | 0.62 | |||||||||||
$ | 0.585 | 95,768 | 0.7 | |||||||||||
Total | 28,586,025 | |||||||||||||
Warrants: | ||||||||||||||
$ | 0.01 | 200,000 | 2.19 | |||||||||||
$ | 0.075 | 2,883,334 | 1.15 | |||||||||||
$ | 0.08 | 7,714,286 | 4.45 | |||||||||||
$ | 0.1 | 1,428,572 | 0.59 | |||||||||||
$ | 0.12 | 200,000 | 5.78 | |||||||||||
$ | 0.15 | 16,648,284 | 4.25 | |||||||||||
$ | 0.16 | 150,000 | 0.8 | |||||||||||
$ | 0.17 | 1,294,118 | 0.53 | |||||||||||
$ | 0.18 | 533,333 | 3.08 | |||||||||||
$ | 0.198 | 1,770,833 | 4.66 | |||||||||||
$ | 0.2 | 1,437,500 | 0.47 | |||||||||||
$ | 0.25 | 1,375,000 | 0.99 | |||||||||||
$ | 0.46 | 83,207 | 0.56 | |||||||||||
$ | 0.769 | 342,029 | 0.75 | |||||||||||
Total | 36,010,496 | |||||||||||||
Stock options and warrants expire on various dates from January 2014 to September 2023. | ||||||||||||||
Under the terms of the Company's agreement with investors in the October 2008 financing, 1,920,000 shares of common stock were the maximum number of shares allocated to the Company's existing shareholders at the time of the offering (also referred to as the original shareholders or the "Founders"). Since the total of the Company's fully diluted shares of common stock was greater than 1,920,000 shares, in order for the Company to proceed with the offering, the Board of Directors approved a reverse stock split of 1-for-1.2545. After this split was approved, additional options and warrants were identified, requiring a second reverse stock split in order to reach the 1,920,000 shares. The second reverse stock split on the reduced 1-for-1.2545 balance was determined to be 1-for-1.33176963. Taken together, if only one reverse stock split was performed, the number would have been a reverse stock split of 1-for-1.670705. | ||||||||||||||
On June 6, 2008, the Board of Directors approved the first reverse stock split. The authorized number of shares of common stock of 20,000,000 was proportionately divided by 1.2545 to arrive at 15,942,607. | ||||||||||||||
On October 20, 2008, the Board of Directors (i) approved the second reverse stock split pursuant to which the authorized number of shares of common stock of 15,942,607 was proportionately divided by 1.33177 to arrive at 11,970,994 shares and (ii) approved a resolution to increase the number of authorized shares of the Company's common stock from 11,970,994 to 40,000,000, which was approved by the Company’s shareholders holding a majority of the shares entitled to vote thereon at a special meeting of shareholders held on December 3, 2008. | ||||||||||||||
The shareholders approved an increase in authorized shares to 80 million shares in an annual shareholder meeting held on June 22, 2010 and approved an increase in authorized shares to 200 million shares in a special shareholder meeting held on September 7, 2011. | ||||||||||||||
The shareholders approved an increase in authorized shares to 300 million shares in a special shareholder meeting held on January 15, 2013. | ||||||||||||||
The shareholders approved an amendment of the Company’s 2012 Stock Incentive Plan to increase the reserve of shares authorized for issuance to 50 million shares and to increase the threshold of limitation on certain grants to 20 million shares on April 15, 2013. | ||||||||||||||
An increase form 300 million to 800 million authorized shares, and an amendment of the Company’s 2012 Stock Incentive Plan to increase the reserve of shares authorized for issuance to 100 million shares was approved at the September 10, 2013 annual meeting | ||||||||||||||
Stock Options and Warrants Granted by the Company | ||||||||||||||
The following table is the listing of stock options and warrants as of September 30, 2013 by year of grant: | ||||||||||||||
Stock Options: | ||||||||||||||
Year | Shares | Price | ||||||||||||
2008 | 420,955 | $ | .017 -.58 | |||||||||||
2009 | 75,000 | 0.35 | ||||||||||||
2010 | 410,000 | 0.15 | ||||||||||||
2011 | 650,000 | 0.01 | ||||||||||||
2012 | 9,514,286 | .07 - .08 | ||||||||||||
2013 | 17,515,784 | .065 - .3415 | ||||||||||||
Total | 28,586,025 | $ | .01 - .58 | |||||||||||
Warrants: | ||||||||||||||
Year | Shares | Price | ||||||||||||
2008 | 342,029 | $ | 0.769 | |||||||||||
2009 | 83,207 | 0.46 | ||||||||||||
2010 | 400,000 | .01 - .20 | ||||||||||||
2011 | 9,764,357 | .075-.25 | ||||||||||||
2012 | 5,352,451 | .15 - .20 | ||||||||||||
2013 | 20,068,452 | .08 - .198 | ||||||||||||
Total | 36,010,496 | $ | .01-.769 | |||||||||||
LOSS_PER_SHARE
LOSS PER SHARE | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 4 - LOSS PER SHARE | |||||||||||||||||
The following table presents the shares used in the basic and diluted loss per common share computations: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Period from April 23, | |||||||||||||||
2002 (Inception) to | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | |||||||||||||
Numerator: | |||||||||||||||||
Net loss available in basic and diluted calculation | $ | -3,974,903 | $ | -2,855,713 | $ | -7,251,965 | $ | -5,704,855 | $ | -26,543,076 | |||||||
Denominator: | |||||||||||||||||
Weighted average common shares outstanding-basic | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | ||||||||||||
Effect of diluted stock options and warrants (1) | |||||||||||||||||
Weighted average common shares outstanding-diluted | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | ||||||||||||
Loss per common share-basic and diluted | $ | -0.03 | $ | -0.04 | $ | -0.06 | $ | -0.1 | $ | -1.63 | |||||||
(1) The number of shares underlying options and warrants outstanding as of September 30, 2013 and September 30, 2012 are 64,596,521 and 45,250,929 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. | |||||||||||||||||
INCOME_TAXES
INCOME TAXES | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Income Tax Disclosure [Text Block] | ' | |||||||
NOTE 5 – INCOME TAXES | ||||||||
The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. | ||||||||
There is no income tax provision in the accompanying statements of operations due to the cumulative operating losses that indicate a 100% valuation allowance for the deferred tax assets and state income taxes is appropriate. | ||||||||
Federal and state income tax return operating loss carryovers as of September 30, 2013, were approximately $11,723,000 and will begin to expire in 2017. | ||||||||
The valuation allowance has been recorded due to the uncertainty of realization of the benefits associated with the net operating losses. Future events and changes in circumstances could cause this valuation allowance to change. | ||||||||
The components of deferred income taxes at September 30, 2013 and December 31, 2012 are as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Deferred Tax Asset: | ||||||||
Net Operating Loss | $ | 2,735,000 | $ | 2,209,000 | ||||
Other | 21,000 | 73,000 | ||||||
Total Deferred Tax Asset | 2,756,000 | 2,282,000 | ||||||
Less Valuation Allowance | 2,756,000 | 2,282,000 | ||||||
Net Deferred Income Taxes | $ | — | $ | — | ||||
LONGTERM_DEBT
LONG-TERM DEBT | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Long-Term Debt, Unclassified [Abstract] | ' | |||||||
Long-term Debt [Text Block] | ' | |||||||
NOTE 6 – LONG-TERM DEBT | ||||||||
Long-term debt is as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Note payable issued on October 26, 2009 with interest at 8% to March 31, 2012 and | - | 100,000 | ||||||
convertible into shares of common stock at $.35 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued on June 12, 2010 with interest at 12% to March 31, 2012, and | - | 200,000 | ||||||
convertible into common stock at $.18 per share. The note was renegotiated in | ||||||||
February 2013. | ||||||||
Note payable issued on December 23, 2010 with interest at 12%, matures December | - | 16,800 | ||||||
23, 2012 and is convertible into common stock at $.084 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued on September 21, 2010 with interest at 12%, matures December | - | 32,000 | ||||||
23, 2012 and is convertible into common stock at $.18 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued January 1, 2011 to a law firm that accepted this note in full | - | 89,300 | ||||||
payment of their past due legal fees. The Note bears interest at 6%, matures | ||||||||
December 31, 2014 and is convertible into common stock at $.15 per share. The | ||||||||
note was renegotiated in March 2013. | ||||||||
On November 6, 2012 the Company issued four convertible notes at 20% interest, | - | 122,774 | ||||||
each, net of an aggregate discounts of $0 and $21,138; due on April 6, 2013. The | ||||||||
four notes were converted into 1,041,622 shares at $.10 per share. | ||||||||
In January 2013, in connection with a private placement offering we issued | - | - | ||||||
convertible one year promissory notes that bear interest at 8%, in an aggregate | ||||||||
principal amount of $300,000 convertible into 2,500,000 shares of common | ||||||||
stock assuming a conversion rate of $.12 per share and five year warrants to | ||||||||
purchase up to an aggregate of 2,500,000 shares of the corporation’s common | ||||||||
stock at an exercise price of $.15 per share. The value of the notes are net | ||||||||
discounts of $45,517 in 2013; due in January 2014. In addition, we issued to | ||||||||
the placement agent for these sales five year warrants to purchase an aggregate | ||||||||
of 200,000 shares of common stock at an exercise price of $.15 per share. All | ||||||||
of the notes were converted in September 2013 resulting in 2,637,534 shares | ||||||||
of common stock issued at $.12 per share. | ||||||||
In May and June 2013, in connection with a private placement offering we issued | - | |||||||
convertible one year promissory notes that bear interest at 8%, in an aggregate | ||||||||
principal amount of $1,000,000 convertible into 6,000,000 shares of common | ||||||||
stock assuming a conversion rate of $.18 per share and five year warrants to | ||||||||
purchase up to an aggregate of 4,611,111 shares of the corporation’s common | ||||||||
stock at an exercise price of $.198 per share. The value of the notes is net | ||||||||
discounts of $275,640 in 2013; due in May and June 2014. In addition, we issued | ||||||||
to the placement agent for these sales five year warrants to purchase an aggregate | ||||||||
of 444,444 shares of common stock at an exercise price of $.18 per share. All of | ||||||||
the notes were converted in September 2013 resulting in 5,683,210 shares of | ||||||||
common stock issued at $.18 per share. | ||||||||
Total | $ | - | $ | 560,874 | ||||
Less amount due within one year | - | 471,574 | ||||||
Long-Term Debt | $ | - | $ | 89,300 | ||||
Cash payments for interest were $41,264 for the nine months ended September 30, 2013 and $0 for the nine months ended September 30, 2012. | ||||||||
RENT_OBLIGATION
RENT OBLIGATION | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Rent Obligation [Abstract] | ' | |||||
Leases of Lessee Disclosure [Text Block] | ' | |||||
NOTE 7 – RENT OBLIGATION | ||||||
The Company leases its principal office under a lease that can be cancelled after three years with proper notice per the lease and an amortized schedule of adjustments that will be due to the landlord. The lease extends five years and expires January 2018. In addition to rent, the Company pays real estate taxes and repairs and maintenance on the leased property. Rent expense was $46,321 and $39,593 through the nine months ended September 30, 2013 and September 30, 2012, respectively. | ||||||
The Company’s rent obligation for the next five years is as follows: | ||||||
2014 | $ | 36,000 | ||||
2015 | $ | 37,000 | ||||
2016 | $ | 38,000 | ||||
2017 | $ | 39,000 | ||||
2018 | $ | 3,600 | ||||
LIABILITY_FOR_EQUITYLINKED_FIN
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
NOTE 8 – LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS | |||||||||||||||||||||||||||||
The Company adopted ASC 815- Derivatives and Hedging (“ASC 815”) on January 1, 2009. ASC 815 mandates a two-step process for evaluating whether an equity-linked financial instrument or embedded feature is indexed to the entity's own stock. It was effective for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years, which was the Company's first quarter of 2009. Many of the warrants issued by the Company contain a strike price adjustment feature, which upon adoption of ASC 815, changed the classification (from equity to liability) and the related accounting for warrants with a $479,910 estimated fair value of as of January 1, 2009. An adjustment was made to remove $486,564 from paid-in capital (the cumulative values of the warrants on their grant dates), a positive adjustment of $6,654 was made to accumulated deficit, representing the gain on valuation from the grant date to January 1, 2009, and $479,910 was booked as a liability. The warrants issued in 2011 do not contain a strike price adjustment feature and, therefore, are not treated as a liability. | |||||||||||||||||||||||||||||
The January 1, 2009 valuation was computed using the Black-Scholes valuation model based upon a 2.5-year expected term, an expected volatility of 63%, an exercise price of $.46 per share, a stock price of $.35, a zero dividend rate and a 1.37% risk free interest rate. Subsequent to January 1, 2009 these warrants were re-valued at the end of each quarter and a gain or loss was recorded based upon their increase or decrease in value during the quarter. Likewise, new warrants that were issued during 2009 and 2010 were valued, using the Black-Scholes valuation model on their date of grant and an entry was made to reduce paid-in capital and increase the liability for equity-linked financial instruments. These warrants were also re-valued at the end of each quarter based upon their expected life, the stock price, the exercise price, assumed dividend rate, expected volatility and risk free interest rate. A significant reduction in the liability was realized in 2010 primarily due to a reduction from $.50 to $.22 per share in the underlying stock price. The Company realized a slight increase in the liability for existing warrants during the first quarter of 2012, and a large decrease in the liability for existing warrants in the second quarter of 2012 as many of the existing warrants expired and the spread of the remaining warrants between exercise and market price was more consistent. In the first and second quarters of 2013 there was a decrease in the liability primarily due to current expirations and the amount of warrants reaching expiration in the near term. In the third quarter there was an additional decrease due to expirations and exercises. The remaining warrants are set to expire between October 2013 and June 2018. | |||||||||||||||||||||||||||||
The inputs to the Black-Scholes model during 2009, 2010, 2011, 2012 and 2013 were as follows: | |||||||||||||||||||||||||||||
Stock price | $ .35 to $.50 | ||||||||||||||||||||||||||||
Exercise price | $ .13 to $.50 | ||||||||||||||||||||||||||||
Expected life | .01 to 2.2 years | ||||||||||||||||||||||||||||
Expected volatility | 54% to 66% | ||||||||||||||||||||||||||||
Assumed dividend rate | - % | ||||||||||||||||||||||||||||
Risk-free interest rate | .13% to 2.97% | ||||||||||||||||||||||||||||
The original valuations, annual gain/(loss) and end of year valuations are shown below: | |||||||||||||||||||||||||||||
Value at | 2010 Gain (Loss) | Value at | 2011 Gain (Loss) | Value at | 2012 | Value at | 2013 Gain | Value at | |||||||||||||||||||||
12/31/09 | 12/31/10 | 12/31/11 | Gain | 12/31/12 | (Loss) | 9/30/13 | |||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||
January 1, 2009 adoption | $ | 870,278 | $ | 868,772 | $ | 1,506 | $ | -88,290 | $ | 89,796 | $ | -21,856 | $ | 111,652 | $ | 96,433 | $ | 15,219 | |||||||||||
Warrants issued in quarter ended 6/30/2009 | 149,007 | 147,403 | 1,604 | -4,689 | 6,293 | 6,293 | - | - | - | ||||||||||||||||||||
Warrants issued in quarter ended 9/30/2009 | 40,481 | 40,419 | 62 | -1,562 | 1,624 | 910 | 714 | 714 | - | ||||||||||||||||||||
Warrants issued in quarter ended 12/31/2009 | 12,081 | 12,053 | 28 | -724 | 752 | 78 | 337 | 337 | - | ||||||||||||||||||||
Warrants issued in quarter ended 3/31/2010 | 25,014 | 539 | -5,571 | 6,109 | 3,701 | 2,408 | 2,408 | - | |||||||||||||||||||||
Warrants issued in quarter ended 6/30/2010 | 30,740 | 592 | -6,122 | 6,714 | 6,083 | 631 | 631 | - | |||||||||||||||||||||
Warrants issued in quarter ended 9/30/2010 | 20,811 | 10,615 | -44,160 | 54,775 | 1,338 | 53,437 | 53,437 | - | |||||||||||||||||||||
Total | $ | 1,071,847 | $ | 1,145,212 | $ | 14,946 | $ | -151,118 | $ | 166,063 | $ | -3,453 | $ | 169,179 | $ | 153,960 | $ | 15,219 | |||||||||||
RELATED_PARTY_TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
NOTE 9 – RELATED PARTY TRANSACTIONS | |
The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements. Rick Koenigsberger, a director, is a holder of membership units of SOK Partners. | |
Agreements with Former Directors | |
The Company entered into agreements, in 2008, with our Chairman of the Board, Lawrence Gadbaw, and in 2009 with a board member, Peter Morawetz, to pay Mr. Gadbaw $25,000 and Mr. Morawetz $30,000 upon the Company raising $3 million in new equity. Mr. Gadbaw received 277,778 shares at $.09 per share in June 2012 as compensation in lieu of the $25,000 cash for raising $3 million in new equity. Mr. Gadbaw was paid the balance due under his separation agreement from 2008. This amount was $46,000 upon signing the agreement in 2008 payable at $2,000 per month; the payments to Mr. Gadbaw are complete. Mr. Gadbaw is due $10,000 in accounts payable as of December 31, 2012 pertaining to his monthly fee as Chairman of the Board of Directors. Mr. Gadbaw also received a warrant for 30,000 shares at $.15 per share in June 30, 2012 as compensation for service as Chairman. Mr. Gadbaw and Mr. Morawetz have both resigned from the Board in the third quarter of 2013. Both Mr. Gadbaw and Mr. Morawetz received 50,000 shares of common stock each at $.325 per share; 20,000 of these shares were for compensation from serving as Board members and the remaining 30,000 shares were issued to satisfy previous contractual agreements. | |
Convertible Note Issuances to Dr. Samuel Herschkowitz and SOK Partners, LLC | |
On September 11, 2013, both the Herschkowitz Note and the SOK Note (each as defined below in this Note 9) were converted in full by the holders thereof at $0.014 per share. The principal and interest balance of the Herschkowitz Note of $314,484 was converted into 22,463,172 shares of common stock. The principal and interest balance of the SOK Note of $680,444 was converted into 48,603,721 shares of common stock. The collateral that secured these notes was released back to the Company. | |
The remaining disclosure of this Note 9 provides historical information regarding the Herschkowitz Note, the SOK Note and certain other convertible note issuances. | |
On March 28, 2012, the Company, entered into a Convertible Note Purchase Agreement, dated as of March 28, 2012 (the “SOK Purchase Agreement”) with SOK Partners, LLC (“SOK Partners”), an investment partnership. Josh Kornberg, who is the Company’s Chief Executive Officer and Chairman of the Board, and Dr. Samuel Herschkowitz are affiliates of the manager of SOK Partners and Ricardo Koenigsberger, a director, is a holder of membership units of SOK Partners. Pursuant to the SOK Purchase Agreement, the Company issued a 20.0% convertible note due August 2012 in the principal amount of up to $600,000 (the “SOK Note”). Principal and accrued interest on the SOK Note was initially due and payable on August 28, 2012. The Company’s obligations under the SOK Note were secured by the grant of a security interest in substantially all tangible and intangible assets of the Company. The SOK Purchase Agreement and the SOK Note included customary events of default that include, among other things, non-payment defaults, covenant defaults, inaccuracy of representations and warranties, cross-defaults to other indebtedness and bankruptcy and insolvency defaults. The occurrence of an event of default would have resulted in the acceleration of the Company’s obligations under the SOK Note, and interest rate of twenty-four (24%) percent per annum accrues if the SOK Note had not been paid when due. | |
On March 28, 2012, the Company received an advance of $84,657 under the SOK Note, including a cash advance of $60,000 net of a prepayment of interest on the first $300,000 in advances under the SOK Note. The holder of the SOK Note was entitled to convert such note into shares of common stock of the Company at an initial conversion price per share of $0.065 per share, subject to adjustment in the event of (1) certain issuances of common stock or convertible securities at a price lower than the conversion price of the SOK Note, and (2) recapitalizations, stock splits, reorganizations and similar events. In addition, the Company is required to issue two installments of an equity bonus to SOK Partners in the form of common stock valued at the rate of $0.065 per share. In March 2012, the Company issued the first equity bonus to SOK Partners, consisting of 4,615,385 shares of common stock, with a second installment due within five business days after SOK Partners has made aggregate advances under the note of at least $300,000. In May 2012, the Company issued the second installment consisting of 4,615,385 shares of common stock subsequent to SOK Partners surpassing the aggregate advances of $300,000. Until the maturity date of the SOK Note, if the Company obtained financing from any other source without the consent of SOK Partners, then the Company was required to issue additional bonus equity in an amount equal to $600,000 less the aggregate advances on the SOK Note made prior to the breach. The principal balance of the SOK Note was $357,282 as of December 31, 2012. | |
As long as any amount payable under the SOK Note remained outstanding, SOK Partners or its designee were entitled to appoint a new member to the Company’s Board of Directors, to be appointed upon request. As a result, Mr. Koenigsberger was appointed to the Board by SOK Partners on June 25, 2012. | |
On March 28, 2012, the Company signed an Amended and Restated Note Purchase Agreement, dated as of December 20, 2011, with Dr. Herschkowitz (as amended, the “Herschkowitz Purchase Agreement”). Pursuant to the Herschkowitz Purchase Agreement, the Company issued a 20.0% convertible note due June 20, 2012 in the principal amount of $240,000 for previous advances under the note (the “Herschkowitz Note”). The Company’s obligations under the Herschkowitz Note were secured by the grant of a security interest in substantially all tangible and intangible assets of the Company. The Company has previously issued to Dr. Herschkowitz an equity bonus consisting of 1,546,667 shares of common stock. An additional 7,500,000 shares were transferred to Dr. Herschkowitz effective in April 2012, upon the occurrence of an event of default on the Herschkowitz Note. On August 13, 2012, the Company entered into a settlement and forbearance agreement described below, relating to the defaults under the Herschkowitz Note and other matters. | |
As long as any amount payable under the Herschkowitz Note remained outstanding, Dr. Herschkowitz or his designee was entitled to appoint a special advisor to the Company’s Board of Directors, to be appointed as a member of the Board upon request. Pursuant to this authority, Josh Kornberg was appointed to the Board on March 9, 2012. In addition, pursuant to this authority, Ricardo Koenigsberger was appointed to the Board on June 25, 2012. | |
Pursuant to a letter dated April 20, 2012, Dr. Herschkowitz advised the Company of the occurrence of numerous events of default under the terms of the Herschkowitz Note and the Herschkowitz Note Purchase Agreement. As a result of such events of default, Dr. Herschkowitz asserted significant rights as a secured creditor of the Company, including his rights as a secured creditor with a security interest in substantially all assets of the Company. Without a settlement relating to the defaults and other matters, Dr. Herschkowitz could have taken action to levy upon the Company’s assets, including patents and other intellectual property. | |
In addition, the Company and Atlantic Partners Alliance LLC (“APA”) were parties to a letter agreement dated March 14, 2012, providing APA and its affiliates (including Dr. Herschkowitz and SOK) with rights to avoid dilution relating to additional issuances of equity securities by the Company through July 14, 2012, evidencing the parties’ intent that APA would be provided with significant protection against dilution. This protection was in recognition of APA’s investments in the Company involving a high degree of risk and the Company’s contemplated need for restructuring its indebtedness, which were anticipated to result, and have resulted, in significant dilution. The parties acknowledged that Dr. Herschkowitz and SOK would not have made their historical cash investments in the Company to the same degree had the dilution protection not been provided, and the investments by these parties have enabled the Company to avoid insolvency. Since the respective dates of the Herschkowitz Note Purchase Agreement and the SOK Note Purchase Agreement, the Company has issued in excess of 16,000,000 shares of common stock to parties other than APA and its affiliates, resulting in significant dilution. | |
Effective August 15, 2012, the Company entered into a letter agreement with Dr. Herschkowitz, APA and SOK (the “Forbearance Agreement”). Under the Forbearance Agreement, among other things, (i) Dr. Herschkowitz agreed to forbear from asserting his rights as a secured creditor to substantially all of the Company’s assets, resulting from the Company’s defaults; (ii) the Company issued an aggregate 26.5 million shares of common stock to Dr. Herschkowitz and SOK and adjusted the conversion price of the Herschkowitz Note and the SOK Note, respectively, to $0.014 per share from $0.065 per share, to satisfy the Company’s obligations to adjust for dilution under the March 14, 2012 letter agreement; (iii) Dr. Herschkowitz and SOK agreed to extend the maturity of the Herschkowitz Note and the SOK Note, respectively, to December 31, 2012; (iv) the Company agreed to pay certain compensation to Dr. Herschkowitz upon the achievement of financial milestones; and (v) Dr. Herschkowitz clarified and waived certain of his rights, including the right to interest at a penalty rate upon default. | |
In the Forbearance Agreement, Dr. Herschkowitz agreed to forbear from exercising any of his rights arising under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement with respect to the existing defaults against the Company, subject to the limitations set forth in the letter agreement and without releasing or waiving any future breach of the letter agreement. He further agreed to forbear from exercising any rights with respect to events of default, security interests in the collateral and other similar remedies against the Company or his interests under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement until the occurrence of an event of default under the Herschkowitz Note: (a) that does not constitute an existing default and (b) occurs and accrues after the effective date of the letter agreement. | |
Dr. Herschkowitz and the Company acknowledged that 7.5 million shares of the Company’s common stock, constituting the “penalty shares” under the Herschkowitz Note Purchase Agreement, were delivered to Dr. Herschkowitz in April 2012 as provided in the Herschkowitz Note Purchase Agreement upon an event of default. Notwithstanding a provision that would have increased the rate of interest from 20% to 24% upon an event of default, Dr. Herschkowitz agreed that the Company would not pay the increased rate of interest but would accrue interest at 20% until a subsequent event of default. | |
Under the Forbearance Agreement, the Herschkowitz Note and the SOK Note were amended as follows: (i) the due dates of the notes were extended to December 31, 2012, from the previous due dates of June 20, 2012 and August 28, 2012, respectively; (ii) Dr. Herschkowitz will release his security agreement after payment of all currently outstanding promissory notes to parties other than SOK; and (iii) the Herschkowitz Note was amended to add certain events of default relating to judgments against the Company or other creditors taking action with respect to the collateral. In consideration of the extension additional milestone fees were revised as described below. Pursuant to a Forbearance and Settlement Agreement with these parties dated August 15, 2012, as subsequently amended, the due date of these notes were extended to August 31, 2013. | |
APA and its affiliates agreed to terminate the letter agreement regarding dilution dated March 14, 2012. In consideration of the various provisions of the letter agreement and in recognition of the understanding of the parties regarding dilution and the agreements of APA and its affiliates to forebear and to extend the due dates of the notes, the Company (i) issued 13,250,000 shares to Dr. Herschkowitz, (ii) issued 13,250,000 shares to SOK, and (iii) the conversion price of the Herschkowitz Note and the SOK Note, respectively was changed to $0.014 per share from $0.065 per share. | |
In the event that the Company consummated the following series of transactions on or prior to June 30, 2013: (i) a merger or similar transaction with a public shell company, (ii) raising between $2 million and $4 million through an offering of the securities of the public shell company concurrent with or subsequent to the shell merger and (iii) listing the Company’s shares on NASDAQ pursuant to an underwritten offering of the Company’s securities resulting in gross proceeds of between $5 million and $30 million, then the Company would have been required to deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $10,000 for such expenses. | |
In connection with the extension of the due date for the Herschkowitz Note and the SOK Note on March 6, 2013, the milestone fees were revised. The following fees were payable to Dr. Herschkowitz in the event that the Company consummates the following series of transactions on or prior to December 31, 2013: (i) financing raising not less than $1 million, compensation of $75,000; (ii) a going private transaction, compensation of $200,000 and (iii) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $3,000,000. In May 2013 Dr. Herschkowitz received $75,000 after the Company surpassed raising $1 million. | |
As a result of the transactions under the Forbearance Agreement and other investments, Dr. Herschkowitz, SOK and their affiliates currently own shares of common stock and derivative securities representing beneficial ownership of more than 65% of the Company’s outstanding common stock, giving such parties significant control over election of the Board of Directors and other matters. | |
On November 6, 2012, the Company issued and sold convertible promissory notes in the total principal amount of $156,243 to Dr. Herschkowitz and certain of his assignees. The Company issued to these parties an aggregate 1,562,430 shares of common stock in consideration of placement of the notes. These notes bear interest at a rate of 20% per annum and are secured by a security interest in the Company’s accounts receivable, patents and certain patent rights and are convertible into common stock upon certain mergers or other fundamental transactions at a conversion price based on the trading price prior to the transaction. The proceeds from this transaction were used to pay off approximately $155,000 in principal amount of secured indebtedness. Such notes were converted in April 2013 into 1,041,622 shares of common stock at $.10 per share. | |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Basis Of Accounting Policy [Policy Text Block] | ' | |||||||
Nature of Operations and Continuance of Operations | ||||||||
Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. The Company has developed an environmentally safe system for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care. The Company also makes ongoing sales of our proprietary cleaning fluid to users of our systems. In April 2009, the Company received 510(k) clearance from the FDA to authorize the Company to market and sell its STREAMWAY® FMS products. | ||||||||
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and has a stockholders’ deficit. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. | ||||||||
Since inception to September 30, 2013, the Company has raised approximately $6,829,000 in equity and $3,655,000 in debt financing, including $2,211,000 in equity and $1,543,000 in convertible debt in 2013. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources”. | ||||||||
New Accounting Pronouncements Policy [Policy Text Block] | ' | |||||||
Recent Accounting Developments | ||||||||
We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. | ||||||||
Valuation Of Intangible Assets [Policy Text Block] | ' | |||||||
Valuation of Intangible Assets | ||||||||
We review identifiable intangible assets for impairment in accordance with ASC 350- Intangibles – Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. | ||||||||
Our accounting estimates and assumptions bear various risks of change, including the length of the current economic downturn facing the United States, the expansion of the slowdown in consumer spending in the U.S. medical markets despite the early expressed opinions of financial experts that the medical market would not be as affected as other markets and failure to gain acceptance in the medical market. | ||||||||
Use of Estimates, Policy [Policy Text Block] | ' | |||||||
Accounting Policies and Estimates | ||||||||
The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||
Presentation Of Taxes Collected From Customers Policy [Policy Text Block] | ' | |||||||
Presentation of Taxes Collected from Customers | ||||||||
Sales taxes are imposed on the Company’s sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company’s accounting policy is to exclude the taxes collected and remitted from revenues and expenses. | ||||||||
Shipping and Handling Cost, Policy [Policy Text Block] | ' | |||||||
Shipping and Handling | ||||||||
Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. | ||||||||
Advertising Costs, Policy [Policy Text Block] | ' | |||||||
Advertising | ||||||||
Advertising costs are expensed as incurred. There were no advertising expenses in the three and nine months ended September 30, 2013 and September 30, 2012. | ||||||||
Research and Development Expense, Policy [Policy Text Block] | ' | |||||||
Research and Development | ||||||||
Research and development costs are charged to operations as incurred. Research and development expenses were $73,621 and $4,818 for the three months ended September 30, 2013 and September 30, 2012, and $207,162 in the nine months ended September 30, 2013 and $4,818 for the nine months ended September 30, 2012. | ||||||||
Revenue Recognition, Policy [Policy Text Block] | ' | |||||||
Revenue Recognition | ||||||||
The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. | ||||||||
Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company’s standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. The Company recognizes revenue for trial base units when the customer signs our Terms and Conditions contract for the purchase of the trial unit. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company’s standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer’s right of return is limited only to the Company’s standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. | ||||||||
Receivables, Policy [Policy Text Block] | ' | |||||||
Receivables | ||||||||
Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. | ||||||||
Inventory, Policy [Policy Text Block] | ' | |||||||
Inventories | ||||||||
Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Finished goods | $ | 85,958 | $ | 91,008 | ||||
Raw materials | 15,109 | 39,543 | ||||||
Work-In-Process | 0 | 14,658 | ||||||
Total | $ | 101,067 | $ | 145,209 | ||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |||||||
Property and Equipment | ||||||||
Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: | ||||||||
Years | ||||||||
Computers and office equipment | 3 | |||||||
Furniture and fixtures | 5 | |||||||
Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. | ||||||||
Intangible Assets Policy [Policy Text Block] | ' | |||||||
Intangible Assets | ||||||||
Intangible assets consist of patent costs. These assets are not subject to amortization until the property patented is in production. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. The Company wrote off the entire STREAMWAY I product patent of $140,588 in June 2013. The balance represented intellectual property in the form of patents for our STREAMWAY I product. The Company’s new STREAMWAY II product has a new provisional patent. See “Patents and Intellectual Property”. | ||||||||
Income Tax, Policy [Policy Text Block] | ' | |||||||
Income Taxes | ||||||||
The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. | ||||||||
The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. | ||||||||
Tax years subsequent to 2009 remain open to examination by federal and state tax authorities. | ||||||||
Patents and Intellectual Property Policy [Policy Text Block] | ' | |||||||
Patents and Intellectual Property | ||||||||
On January 25, 2013, the Company filed a U.S. Provisional Patent Application, number 61756763. The provisional patent application is for a new model of the surgical fluid waste management system that has embodiments, based on our patent attorney’s recommendations that are patentable over all prior art and will not infringe on any existing patents. This provisional patent adds features that are novel and non-obvious over all the Company’s previously filed applications. | ||||||||
Subsequent Events, Policy [Policy Text Block] | ' | |||||||
Subsequent Events | ||||||||
The former CEO and the Company had a dispute concerning stock options negated under the former CEO’s settlement agreement. The Company and the former CEO have entered into an amended settlement agreement whereby he will retain the 333,330 shares of common stock already exercised and the right to exercise options with respect to an additional 325,187 shares of common stock (as adjusted for two past reverse stock splits) at $.01 per share. Additionally, the Company agreed to pay the former CEO $20,000 in cash in two installments. In exchange the former CEO agreed to relinquish warrants to purchase an aggregate 800,000 shares of common stock. The settlement agreement was signed in September 2013, and the final payment was remitted in October 2013. | ||||||||
The Company has evaluated all other subsequent events through the date of this filing. The Company does not believe there are any other subsequent events that required disclosure. | ||||||||
Interim Financial Statements Policy [Policy Text Block] | ' | |||||||
Interim Financial Statements | ||||||||
The Company has prepared the unaudited interim financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. These interim financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly the Company’s financial position, the results of its operations and its cash flows for the interim periods. These interim financial statements should be read in conjunction with the annual financial statements and the notes thereto contained in the Form 10-K filed with the SEC on March 22, 2013. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. | ||||||||
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Accounting Policies [Abstract] | ' | |||||||
Schedule of Inventory, Current [Table Text Block] | ' | |||||||
Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Finished goods | $ | 85,958 | $ | 91,008 | ||||
Raw materials | 15,109 | 39,543 | ||||||
Work-In-Process | 0 | 14,658 | ||||||
Total | $ | 101,067 | $ | 145,209 | ||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Estimated useful asset life by classification is as follows: | ||||||||
Years | ||||||||
Computers and office equipment | 3 | |||||||
Furniture and fixtures | 5 | |||||||
STOCKHOLDERS_DEFICIT_STOCK_OPT1
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||
The following summarizes transactions for stock options and warrants for the periods indicated: | ||||||||||||||
Stock Options (1) | Warrants (1) | |||||||||||||
Average | Average | |||||||||||||
Number of | Exercise | Number of | Exercise | |||||||||||
Shares | Price | Shares | Price | |||||||||||
Outstanding at December 31, 2005 | 17,956 | $ | 1.67 | 20,950 | $ | 2.62 | ||||||||
Issued | 23,942 | 1.67 | 71,826 | 0.85 | ||||||||||
Outstanding at December 31, 2006 | 41,898 | 1.67 | 92,776 | 1.25 | ||||||||||
Issued | 5,984 | 1.67 | 28,502 | 0.35 | ||||||||||
Outstanding at December 31, 2007 | 47,882 | 1.67 | 121,278 | 1.04 | ||||||||||
Issued | 1,243,292 | 0.2 | 5,075,204 | 0.45 | ||||||||||
Expired | -11,971 | 3.76 | ||||||||||||
Outstanding at December 31, 2008 | 1,291,174 | 0.26 | 5,184,511 | 0.45 | ||||||||||
Issued | 205,000 | 0.37 | 2,188,302 | 0.65 | ||||||||||
Outstanding at December 31, 2009 | 1,496,174 | 0.27 | 7,372,813 | 0.49 | ||||||||||
Issued | 2,210,000 | 0.17 | 3,435,662 | 0.34 | ||||||||||
Expired | -207,956 | 0.43 | -8,979 | 1.67 | ||||||||||
Exercised | -128,571 | 0.46 | ||||||||||||
Outstanding at December 31, 2010 | 3,498,218 | 0.19 | 10,670,925 | 0.44 | ||||||||||
Issued | 2,483,334 | 0.01 | 18,222,243 | 0.14 | ||||||||||
Expired | -83,941 | 0.73 | -2,010,917 | 0.48 | ||||||||||
Exercised | -100,000 | 0.01 | ||||||||||||
Outstanding at December 31, 2011 | 5,797,611 | 0.11 | 26,882,251 | 0.23 | ||||||||||
Issued | 9,514,286 | 0.08 | 11,688,166 | 0.15 | ||||||||||
Expired | -2,235,368 | 0.11 | -3,366,455 | 0.5 | ||||||||||
Exercised | -412,963 | 0.01 | -71,826 | 0.01 | ||||||||||
Outstanding at December 31, 2012 | 12,663,566 | 0.09 | 35,132,136 | 0.13 | ||||||||||
Issued | 17,515,784 | 0.082 | 25,739,682 | 0.12 | ||||||||||
Expired | -1,059,995 | 0.26 | -6,811,207 | 0.19 | ||||||||||
Exercised | -533,330 | 0.01 | -18,050,115 | 0.1 | ||||||||||
Outstanding at September 30, 2013 | 28,586,025 | $ | 0.08 | 36,010,496 | $ | 0.14 | ||||||||
-1 | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | ' | |||||||||||||
The following summarizes the status of options and warrants outstanding at September 30, 2013: | ||||||||||||||
Range of Exercise Prices | Shares | Weighted | ||||||||||||
Average | ||||||||||||||
Remaining | ||||||||||||||
Life | ||||||||||||||
Options: | ||||||||||||||
$ | 0.01 | 650,000 | 6.57 | |||||||||||
$ | 0.017 | 325,187 | 4.68 | |||||||||||
$ | 0.065 | 20,000 | 9.45 | |||||||||||
$ | 0.07 | 214,286 | 8.94 | |||||||||||
$ | 0.075 | 14,400,000 | 9.46 | |||||||||||
$ | 0.079 | 1,740,508 | 9.47 | |||||||||||
$ | 0.08 | 9,300,000 | 8.88 | |||||||||||
$ | 0.088 | 400,000 | 8.32 | |||||||||||
$ | 0.1325 | 226,415 | 9.79 | |||||||||||
$ | 0.14 | 242,857 | 9.79 | |||||||||||
$ | 0.15 | 676,666 | 7.41 | |||||||||||
$ | 0.17 | 5,000 | 9.61 | |||||||||||
$ | 0.318 | 94,338 | 10 | |||||||||||
$ | 0.33 | 100,000 | 9.99 | |||||||||||
$ | 0.3415 | 20,000 | 10 | |||||||||||
$ | 0.35 | 75,000 | 0.62 | |||||||||||
$ | 0.585 | 95,768 | 0.7 | |||||||||||
Total | 28,586,025 | |||||||||||||
Warrants: | ||||||||||||||
$ | 0.01 | 200,000 | 2.19 | |||||||||||
$ | 0.075 | 2,883,334 | 1.15 | |||||||||||
$ | 0.08 | 7,714,286 | 4.45 | |||||||||||
$ | 0.1 | 1,428,572 | 0.59 | |||||||||||
$ | 0.12 | 200,000 | 5.78 | |||||||||||
$ | 0.15 | 16,648,284 | 4.25 | |||||||||||
$ | 0.16 | 150,000 | 0.8 | |||||||||||
$ | 0.17 | 1,294,118 | 0.53 | |||||||||||
$ | 0.18 | 533,333 | 3.08 | |||||||||||
$ | 0.198 | 1,770,833 | 4.66 | |||||||||||
$ | 0.2 | 1,437,500 | 0.47 | |||||||||||
$ | 0.25 | 1,375,000 | 0.99 | |||||||||||
$ | 0.46 | 83,207 | 0.56 | |||||||||||
$ | 0.769 | 342,029 | 0.75 | |||||||||||
Total | 36,010,496 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | |||||||||||||
The following table is the listing of stock options and warrants as of September 30, 2013 by year of grant: | ||||||||||||||
Stock Options: | ||||||||||||||
Year | Shares | Price | ||||||||||||
2008 | 420,955 | $ | .017 -.58 | |||||||||||
2009 | 75,000 | 0.35 | ||||||||||||
2010 | 410,000 | 0.15 | ||||||||||||
2011 | 650,000 | 0.01 | ||||||||||||
2012 | 9,514,286 | .07 - .08 | ||||||||||||
2013 | 17,515,784 | .065 - .3415 | ||||||||||||
Total | 28,586,025 | $ | .01 - .58 | |||||||||||
Warrants: | ||||||||||||||
Year | Shares | Price | ||||||||||||
2008 | 342,029 | $ | 0.769 | |||||||||||
2009 | 83,207 | 0.46 | ||||||||||||
2010 | 400,000 | .01 - .20 | ||||||||||||
2011 | 9,764,357 | .075-.25 | ||||||||||||
2012 | 5,352,451 | .15 - .20 | ||||||||||||
2013 | 20,068,452 | .08 - .198 | ||||||||||||
Total | 36,010,496 | $ | .01-.769 | |||||||||||
LOSS_PER_SHARE_Tables
LOSS PER SHARE (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
The following table presents the shares used in the basic and diluted loss per common share computations: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | Period from April 23, | |||||||||||||||
2002 (Inception) to | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | |||||||||||||
Numerator: | |||||||||||||||||
Net loss available in basic and diluted calculation | $ | -3,974,903 | $ | -2,855,713 | $ | -7,251,965 | $ | -5,704,855 | $ | -26,543,076 | |||||||
Denominator: | |||||||||||||||||
Weighted average common shares outstanding-basic | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | ||||||||||||
Effect of diluted stock options and warrants (1) | |||||||||||||||||
Weighted average common shares outstanding-diluted | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | ||||||||||||
Loss per common share-basic and diluted | $ | -0.03 | $ | -0.04 | $ | -0.06 | $ | -0.1 | $ | -1.63 | |||||||
(1) The number of shares underlying options and warrants outstanding as of September 30, 2013 and September 30, 2012 are 64,596,521 and 45,250,929 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. | |||||||||||||||||
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | ' | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||
The components of deferred income taxes at September 30, 2013 and December 31, 2012 are as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Deferred Tax Asset: | ||||||||
Net Operating Loss | $ | 2,735,000 | $ | 2,209,000 | ||||
Other | 21,000 | 73,000 | ||||||
Total Deferred Tax Asset | 2,756,000 | 2,282,000 | ||||||
Less Valuation Allowance | 2,756,000 | 2,282,000 | ||||||
Net Deferred Income Taxes | $ | — | $ | — | ||||
LONGTERM_DEBT_Tables
LONG-TERM DEBT (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Long-Term Debt, Unclassified [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||
Long-term debt is as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
Note payable issued on October 26, 2009 with interest at 8% to March 31, 2012 and | - | 100,000 | ||||||
convertible into shares of common stock at $.35 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued on June 12, 2010 with interest at 12% to March 31, 2012, and | - | 200,000 | ||||||
convertible into common stock at $.18 per share. The note was renegotiated in | ||||||||
February 2013. | ||||||||
Note payable issued on December 23, 2010 with interest at 12%, matures December | - | 16,800 | ||||||
23, 2012 and is convertible into common stock at $.084 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued on September 21, 2010 with interest at 12%, matures December | - | 32,000 | ||||||
23, 2012 and is convertible into common stock at $.18 per share. The note was | ||||||||
renegotiated in February 2013. | ||||||||
Note payable issued January 1, 2011 to a law firm that accepted this note in full | - | 89,300 | ||||||
payment of their past due legal fees. The Note bears interest at 6%, matures | ||||||||
December 31, 2014 and is convertible into common stock at $.15 per share. The | ||||||||
note was renegotiated in March 2013. | ||||||||
On November 6, 2012 the Company issued four convertible notes at 20% interest, | - | 122,774 | ||||||
each, net of an aggregate discounts of $0 and $21,138; due on April 6, 2013. The | ||||||||
four notes were converted into 1,041,622 shares at $.10 per share. | ||||||||
In January 2013, in connection with a private placement offering we issued | - | - | ||||||
convertible one year promissory notes that bear interest at 8%, in an aggregate | ||||||||
principal amount of $300,000 convertible into 2,500,000 shares of common | ||||||||
stock assuming a conversion rate of $.12 per share and five year warrants to | ||||||||
purchase up to an aggregate of 2,500,000 shares of the corporation’s common | ||||||||
stock at an exercise price of $.15 per share. The value of the notes are net | ||||||||
discounts of $45,517 in 2013; due in January 2014. In addition, we issued to | ||||||||
the placement agent for these sales five year warrants to purchase an aggregate | ||||||||
of 200,000 shares of common stock at an exercise price of $.15 per share. All | ||||||||
of the notes were converted in September 2013 resulting in 2,637,534 shares | ||||||||
of common stock issued at $.12 per share. | ||||||||
In May and June 2013, in connection with a private placement offering we issued | - | |||||||
convertible one year promissory notes that bear interest at 8%, in an aggregate | ||||||||
principal amount of $1,000,000 convertible into 6,000,000 shares of common | ||||||||
stock assuming a conversion rate of $.18 per share and five year warrants to | ||||||||
purchase up to an aggregate of 4,611,111 shares of the corporation’s common | ||||||||
stock at an exercise price of $.198 per share. The value of the notes is net | ||||||||
discounts of $275,640 in 2013; due in May and June 2014. In addition, we issued | ||||||||
to the placement agent for these sales five year warrants to purchase an aggregate | ||||||||
of 444,444 shares of common stock at an exercise price of $.18 per share. All of | ||||||||
the notes were converted in September 2013 resulting in 5,683,210 shares of | ||||||||
common stock issued at $.18 per share. | ||||||||
Total | $ | - | $ | 560,874 | ||||
Less amount due within one year | - | 471,574 | ||||||
Long-Term Debt | $ | - | $ | 89,300 | ||||
RENT_OBLIGATION_Tables
RENT OBLIGATION (Tables) | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Rent Obligation [Abstract] | ' | |||||
Schedule of Rent Expense [Table Text Block] | ' | |||||
The Company’s rent obligation for the next five years is as follows: | ||||||
2014 | $ | 36,000 | ||||
2015 | $ | 37,000 | ||||
2016 | $ | 38,000 | ||||
2017 | $ | 39,000 | ||||
2018 | $ | 3,600 | ||||
LIABILITY_FOR_EQUITYLINKED_FIN1
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||||||||||||||||||||||
The inputs to the Black-Scholes model during 2009, 2010, 2011, 2012 and 2013 were as follows: | |||||||||||||||||||||||||||||
Stock price | $ .35 to $.50 | ||||||||||||||||||||||||||||
Exercise price | $ .13 to $.50 | ||||||||||||||||||||||||||||
Expected life | .01 to 2.2 years | ||||||||||||||||||||||||||||
Expected volatility | 54% to 66% | ||||||||||||||||||||||||||||
Assumed dividend rate | - % | ||||||||||||||||||||||||||||
Risk-free interest rate | .13% to 2.97% | ||||||||||||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | ||||||||||||||||||||||||||||
The original valuations, annual gain/(loss) and end of year valuations are shown below: | |||||||||||||||||||||||||||||
Value at | 2010 Gain (Loss) | Value at | 2011 Gain (Loss) | Value at | 2012 | Value at | 2013 Gain | Value at | |||||||||||||||||||||
12/31/09 | 12/31/10 | 12/31/11 | Gain | 12/31/12 | (Loss) | 9/30/13 | |||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||
January 1, 2009 adoption | $ | 870,278 | $ | 868,772 | $ | 1,506 | $ | -88,290 | $ | 89,796 | $ | -21,856 | $ | 111,652 | $ | 96,433 | $ | 15,219 | |||||||||||
Warrants issued in quarter ended 6/30/2009 | 149,007 | 147,403 | 1,604 | -4,689 | 6,293 | 6,293 | - | - | - | ||||||||||||||||||||
Warrants issued in quarter ended 9/30/2009 | 40,481 | 40,419 | 62 | -1,562 | 1,624 | 910 | 714 | 714 | - | ||||||||||||||||||||
Warrants issued in quarter ended 12/31/2009 | 12,081 | 12,053 | 28 | -724 | 752 | 78 | 337 | 337 | - | ||||||||||||||||||||
Warrants issued in quarter ended 3/31/2010 | 25,014 | 539 | -5,571 | 6,109 | 3,701 | 2,408 | 2,408 | - | |||||||||||||||||||||
Warrants issued in quarter ended 6/30/2010 | 30,740 | 592 | -6,122 | 6,714 | 6,083 | 631 | 631 | - | |||||||||||||||||||||
Warrants issued in quarter ended 9/30/2010 | 20,811 | 10,615 | -44,160 | 54,775 | 1,338 | 53,437 | 53,437 | - | |||||||||||||||||||||
Total | $ | 1,071,847 | $ | 1,145,212 | $ | 14,946 | $ | -151,118 | $ | 166,063 | $ | -3,453 | $ | 169,179 | $ | 153,960 | $ | 15,219 | |||||||||||
SUMMARY_OF_SIGNIFICANT_ACCOUNT3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Finished goods | $85,958 | $91,008 |
Raw materials | 15,109 | 39,543 |
Work-In-Process | 0 | 14,658 |
Total | $101,067 | $145,209 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) | 9 Months Ended |
Sep. 30, 2013 | |
Office Equipment [Member] | ' |
Property Plant and Equipment Useful Life | '3 years |
Furniture and Fixtures [Member] | ' |
Property Plant and Equipment Useful Life | '5 years |
SUMMARY_OF_SIGNIFICANT_ACCOUNT5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 137 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Stockholders' Equity, Period Increase (Decrease) | ' | ' | ' | $2,211,000 | ' | $6,829,000 |
Debt Instrument, Increase (Decrease) for Period, Net | ' | ' | ' | 1,543,000 | ' | 3,655,000 |
Research and Development Expense | 73,621 | 4,818 | ' | 207,162 | 4,818 | ' |
Amortization of Intangible Assets | ' | ' | $140,588 | ' | ' | ' |
Former Chief Executive Officer [Member] | ' | ' | ' | ' | ' | ' |
Description Of Dispute Concerning Stock Options | ' | ' | ' | 'The Company and the former CEO have entered into an amended settlement agreement whereby he will retain the 333,330 shares of common stock already exercised and the right to exercise options with respect to an additional 325,187 shares of common stock (as adjusted for two past reverse stock splits) at $.01 per share. Additionally, the Company agreed to pay the former CEO $20,000 in cash in two installments. | ' | ' |
Relinquishment Of Warrants To Purchase OfCommon Stock | ' | ' | ' | 800,000 | ' | ' |
DEVELOPMENT_STAGE_OPERATIONS_D
DEVELOPMENT STAGE OPERATIONS (Details Textual) (USD $) | 1 Months Ended | |||||||
Nov. 30, 2013 | Nov. 30, 2012 | Jan. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2010 | Jun. 30, 2010 | Oct. 31, 2009 | Nov. 06, 2013 | |
Common Stock, Shares, Issued | ' | ' | ' | ' | ' | ' | ' | 221,068,939 |
Equity Issuance Per Share Amount | $1.67 | $0.10 | $0.20 | $0.08 | $0.18 | $0.46 | $0.65 | ' |
STOCKHOLDERS_DEFICIT_STOCK_OPT2
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | |||||||||
Equity Option [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Outstanding at December 31, 2005 | 12,663,566 | [1] | 5,797,611 | [1] | 3,498,218 | [1] | 1,496,174 | [1] | 1,291,174 | [1] | 47,882 | [1] | 41,898 | [1] | 17,956 | [1] |
Issued - Number of Shares | 17,515,784 | [1] | 9,514,286 | [1] | 2,483,334 | [1] | 2,210,000 | [1] | 205,000 | [1] | 1,243,292 | [1] | 5,984 | [1] | 23,942 | [1] |
Expired - Number of Shares | -1,059,995 | [1] | -2,235,368 | [1] | -83,941 | [1] | -207,956 | [1] | ' | ' | ' | ' | ||||
Exercised - Number of shares | -533,330 | [1] | -412,963 | [1] | -100,000 | [1] | ' | ' | ' | ' | ' | |||||
Outstanding Number Of Shares | 28,586,025 | [1] | 12,663,566 | [1] | 5,797,611 | [1] | 3,498,218 | [1] | 1,496,174 | [1] | 1,291,174 | [1] | 47,882 | [1] | 41,898 | [1] |
Outstanding - Average Exercise Price | $0.09 | [1] | $0.11 | [1] | $0.19 | [1] | $0.27 | [1] | $0.26 | [1] | $1.67 | [1] | $1.67 | [1] | $1.67 | [1] |
Issued - Average Exercise Price | $0.08 | [1] | $0.08 | [1] | $0.01 | [1] | $0.17 | [1] | $0.37 | [1] | $0.20 | [1] | $1.67 | [1] | $1.67 | [1] |
Expired - Average Exercise Price | $0.26 | [1] | $0.11 | [1] | $0.73 | [1] | $0.43 | [1] | ' | ' | ' | ' | ||||
Exercised - Average Exercise Price | $0.01 | [1] | $0.01 | [1] | $0.01 | [1] | ' | ' | ' | ' | ' | |||||
Outstanding - Average Exercise Price | $0.08 | [1] | $0.09 | [1] | $0.11 | [1] | $0.19 | [1] | $0.27 | [1] | $0.26 | [1] | $1.67 | [1] | $1.67 | [1] |
Warrant [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Outstanding at December 31, 2005 | 35,132,136 | [1] | 26,882,251 | [1] | 10,670,925 | [1] | 7,372,813 | [1] | 5,184,511 | [1] | 121,278 | [1] | 92,776 | [1] | 20,950 | [1] |
Issued - Number of Shares | 25,739,682 | [1] | 11,688,166 | [1] | 18,222,243 | [1] | 3,435,662 | [1] | 2,188,302 | [1] | 5,075,204 | [1] | 28,502 | [1] | 71,826 | [1] |
Expired - Number of Shares | -6,811,207 | [1] | -3,366,455 | [1] | -2,010,917 | [1] | -8,979 | [1] | ' | -11,971 | [1] | ' | ' | |||
Exercised - Number of shares | -18,050,115 | [1] | -71,826 | [1] | ' | -128,571 | [1] | ' | ' | ' | ' | |||||
Outstanding Number Of Shares | 36,010,496 | [1] | 35,132,136 | [1] | 26,882,251 | [1] | 10,670,925 | [1] | 7,372,813 | [1] | 5,184,511 | [1] | 121,278 | [1] | 92,776 | [1] |
Outstanding - Average Exercise Price | $0.13 | [1] | $0.23 | [1] | $0.44 | [1] | $0.49 | [1] | $0.45 | [1] | $1.04 | [1] | $1.25 | [1] | $2.62 | [1] |
Issued - Average Exercise Price | $0.12 | [1] | $0.15 | [1] | $0.14 | [1] | $0.34 | [1] | $0.65 | [1] | $0.45 | [1] | $0.35 | [1] | $0.85 | [1] |
Expired - Average Exercise Price | $0.19 | [1] | $0.50 | [1] | $0.48 | [1] | $1.67 | [1] | ' | $3.76 | [1] | ' | ' | |||
Exercised - Average Exercise Price | $0.10 | [1] | $0.01 | [1] | ' | $0.46 | [1] | ' | ' | ' | ' | |||||
Outstanding - Average Exercise Price | $0.14 | [1] | $0.13 | [1] | $0.23 | [1] | $0.44 | [1] | $0.49 | [1] | $0.45 | [1] | $1.04 | [1] | $1.25 | [1] |
[1] | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. |
STOCKHOLDERS_DEFICIT_STOCK_OPT3
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Details 1) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | |||||||||||||||||||
Stock Options One [Member] | Stock Options Two [Member] | Stock Options Three [Member] | Stock Options Four [Member] | Stock Options Five [Member] | Stock Options Six [Member] | Stock Options Seven [Member] | Stock Options Eight [Member] | Stock Options Nine [Member] | Stock Option Ten [Member] | Stock Option Eleven [Member] | Stock Option Twelve [Member] | Stock Options Thirteen [Member] | Stock Options Fourteen [Member] | Stock Options Fifteen [Member] | Stock Options Sixteen [Member] | Stock Options Seventeen [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Equity Option [Member] | Warrant One [Member] | Warrant Two [Member] | Warrant Three [Member] | Warrant Four [Member] | Warrant Five [Member] | Warrant Six [Member] | Warrant Seven [Member] | Warrant Eight [Member] | Warrant Nine [Member] | Warrant Ten [Member] | Warrant Eleven [Member] | Warrant Twelve [Member] | Warrant Thirteen [Member] | Warrant Fourteen [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | |||||||||||||||||||||
Range of Exercise Prices | ' | ' | $0.01 | $0.02 | $0.07 | $0.07 | $0.08 | $0.08 | $0.08 | $0.09 | $0.13 | $0.14 | $0.15 | $0.17 | $0.32 | $0.33 | $0.34 | $0.35 | $0.59 | $0.08 | [1] | $0.09 | [1] | $0.11 | [1] | $0.19 | [1] | $0.27 | [1] | $0.26 | [1] | $1.67 | [1] | $1.67 | [1] | $1.67 | [1] | $0.01 | $0.08 | $0.08 | $0.10 | $0.12 | $0.15 | $0.16 | $0.17 | $0.18 | $0.20 | $0.20 | $0.25 | $0.46 | $0.77 | $0.14 | [1] | $0.13 | [1] | $0.23 | [1] | $0.44 | [1] | $0.49 | [1] | $0.45 | [1] | $1.04 | [1] | $1.25 | [1] | $2.62 | [1] |
Shares | ' | ' | 650,000 | 325,187 | 20,000 | 214,286 | 14,400,000 | 1,740,508 | 9,300,000 | 400,000 | 226,415 | 242,857 | 676,666 | 5,000 | 94,338 | 100,000 | 20,000 | 75,000 | 95,768 | 28,586,025 | [1] | 12,663,566 | [1] | 5,797,611 | [1] | 3,498,218 | [1] | 1,496,174 | [1] | 1,291,174 | [1] | 47,882 | [1] | 41,898 | [1] | 17,956 | [1] | 200,000 | 2,883,334 | 7,714,286 | 1,428,572 | 200,000 | 16,648,284 | 150,000 | 1,294,118 | 533,333 | 1,770,833 | 1,437,500 | 1,375,000 | 83,207 | 342,029 | 36,010,496 | [1] | 35,132,136 | [1] | 26,882,251 | [1] | 10,670,925 | [1] | 7,372,813 | [1] | 5,184,511 | [1] | 121,278 | [1] | 92,776 | [1] | 20,950 | [1] |
Weighted Average Remaining Life | '5 years | '2 years 6 months | '6 years 6 months 25 days | '4 years 8 months 5 days | '9 years 5 months 12 days | '8 years 11 months 8 days | '9 years 5 months 16 days | '9 years 5 months 19 days | '8 years 10 months 17 days | '8 years 3 months 25 days | '9 years 9 months 14 days | '9 years 9 months 14 days | '7 years 4 months 28 days | '9 years 7 months 10 days | '10 years | '9 years 11 months 26 days | '10 years | '7 months 13 days | '8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 2 months 8 days | '1 year 1 month 24 days | '4 years 5 months 12 days | '7 months 2 days | '5 years 9 months 11 days | '4 years 3 months | '9 months 18 days | '6 months 11 days | '3 years 29 days | '4 years 7 months 28 days | '5 months 19 days | '11 months 26 days | '6 months 22 days | '9 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
[1] | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. |
STOCKHOLDERS_DEFICIT_STOCK_OPT4
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Details 2) (USD $) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Dec. 31, 2005 | ||||||||||
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.01 | ' | ' | ' | ' | $0.10 | ' | ' | ' | |||||||||
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.04 | ' | ' | ' | ' | $0.34 | ' | ' | ' | |||||||||
Warrant One [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | ' | ' | 342,029 | ' | ' | ' | |||||||||
Shares | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | ' | $0.77 | ' | ' | ' | |||||||||
Warrant Two [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | ' | 83,207 | ' | ' | ' | ' | |||||||||
Shares | 2,883,334 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | $0.46 | ' | ' | ' | ' | |||||||||
Warrant Three [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | |||||||||
Shares | 7,714,286 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Three [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | |||||||||
Warrant Three [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | |||||||||
Warrant Four [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | 9,764,357 | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 1,428,572 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Four [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | $0.08 | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Four [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Five [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | 5,352,451 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Five [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Five [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Six [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | 20,068,452 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 16,648,284 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Six [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Six [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant Seven [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 150,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | 25,739,682 | [1] | 11,688,166 | [1] | 18,222,243 | [1] | 3,435,662 | [1] | 2,188,302 | [1] | 5,075,204 | [1] | 28,502 | [1] | 71,826 | [1] | ' | |
Shares | 36,010,496 | [1] | 35,132,136 | [1] | 26,882,251 | [1] | 10,670,925 | [1] | 7,372,813 | [1] | 5,184,511 | [1] | 121,278 | [1] | 92,776 | [1] | 20,950 | [1] |
Issued - Average Exercise Price | $0.12 | [1] | $0.15 | [1] | $0.14 | [1] | $0.34 | [1] | $0.65 | [1] | $0.45 | [1] | $0.35 | [1] | $0.85 | [1] | ' | |
Warrant [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Warrant [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.77 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options One [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | ' | ' | 420,955 | ' | ' | ' | |||||||||
Shares | 650,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options One [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | ' | $0.02 | ' | ' | ' | |||||||||
Stock Options One [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | ' | $0.58 | ' | ' | ' | |||||||||
Stock Options Two [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' | |||||||||
Shares | 325,187 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | $0.35 | ' | ' | ' | ' | |||||||||
Stock Options Three [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | ' | 410,000 | ' | ' | ' | ' | ' | |||||||||
Shares | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | |||||||||
Stock Options Four [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | ' | 650,000 | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 214,286 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Five [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | ' | 9,514,286 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 14,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Five [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Five [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | ' | $0.08 | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Six [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | 17,515,784 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 1,740,508 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Six [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Six [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.34 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Stock Options Seven [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Shares | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Equity Option [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Number of Shares | 17,515,784 | [1] | 9,514,286 | [1] | 2,483,334 | [1] | 2,210,000 | [1] | 205,000 | [1] | 1,243,292 | [1] | 5,984 | [1] | 23,942 | [1] | ' | |
Shares | 28,586,025 | [1] | 12,663,566 | [1] | 5,797,611 | [1] | 3,498,218 | [1] | 1,496,174 | [1] | 1,291,174 | [1] | 47,882 | [1] | 41,898 | [1] | 17,956 | [1] |
Issued - Average Exercise Price | $0.08 | [1] | $0.08 | [1] | $0.01 | [1] | $0.17 | [1] | $0.37 | [1] | $0.20 | [1] | $1.67 | [1] | $1.67 | [1] | ' | |
Equity Option [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Equity Option [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Issued - Average Exercise Price | $0.58 | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. |
STOCKHOLDERS_DEFICIT_STOCK_OPT5
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Details Textual) (USD $) | 1 Months Ended | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 137 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 2 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 2 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 2 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nov. 30, 2013 | Apr. 30, 2013 | Mar. 15, 2013 | Jan. 31, 2013 | Nov. 30, 2012 | Jan. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2010 | Jun. 30, 2010 | Oct. 31, 2009 | Jul. 31, 2007 | Mar. 31, 2007 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Sep. 30, 2013 | Sep. 11, 2013 | Jan. 15, 2013 | Mar. 28, 2012 | Sep. 07, 2011 | Jun. 22, 2010 | Jan. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Dec. 31, 2007 | Dec. 31, 2006 | Mar. 15, 2013 | Sep. 10, 2013 | Apr. 15, 2013 | Nov. 30, 2012 | Jan. 31, 2011 | Nov. 30, 2012 | Jan. 31, 2011 | Nov. 30, 2012 | Jan. 31, 2011 | Nov. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Sep. 10, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Sep. 10, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||||||
Private Placement [Member] | Private Placement [Member] | Private Placement [Member] | Private Placement 2 [Member] | Private Placement 2 [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Warrant [Member] | Stock Incentive Plan 2012 [Member] | Stock Incentive Plan 2012 [Member] | Convertible Notes One [Member] | Convertible Notes One [Member] | Convertible Notes Two [Member] | Convertible Notes Two [Member] | Convertible Notes Three [Member] | Convertible Notes Three [Member] | Convertible Note Four [Member] | Stock Options and Warrants [Member] | Stock Options and Warrants [Member] | Stock Options and Warrants One [Member] | Stock Options and Warrants Two [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | Warrant [Member] | Stock Options and Warrants [Member] | Stock Options and Warrants [Member] | Warrant [Member] | Stock Options and Warrants [Member] | Stock Options and Warrants [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | '2 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | '5 years | '10 years | ' | '4 days | '4 days | '4 days | '4 days | '4 days | '2 years 6 months | ' | ' | ' | '3 years | ' | ' | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '7 years 6 months | ' | ' | ' | '10 years | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.13% | ' | 0.13% | 0.13% | 0.13% | 0.13% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.97% | ' | 2.97% | 2.97% | 2.97% | 2.97% | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.44% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.00% | ' | 54.00% | 54.00% | 54.00% | 54.00% | 53.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.00% | ' | 66.00% | 66.00% | 66.00% | 66.00% | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issued - Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.12 | [1] | $0.15 | [1] | $0.14 | [1] | $0.34 | [1] | $0.65 | [1] | $0.45 | [1] | $0.35 | [1] | $0.85 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | $0.10 | ' | $0.01 | $0.01 | $0.01 | ' | ' | $0.04 | ' | ' | ' | ' | $0.34 | ' | $0.77 | $0.10 | $0.34 |
Convertible Debt, Issuance Of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Volatility Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Amortization of debt discount | ' | ' | ' | ' | 33,469 | 47,908 | ' | 15,553 | ' | 30,150 | 92,700 | 40,242 | ' | ' | ' | 275,640 | ' | 413,695 | 45,187 | ' | ' | ' | ' | ' | 756,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument Convertible Remaining Discount Amortization Period 1 | ' | ' | ' | ' | ' | '24 months | '24 months | '18 months | '22 months | '24 months | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible Bridge Debt, Issuance Of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from Issuance of Debt | ' | ' | ' | ' | ' | ' | 16,800 | 32,000 | 200,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,500 | 50,000 | 27,500 | 50,000 | 51,243 | 50,000 | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrants Issued During Period, Shares, In Connection With Convertible Debt | ' | ' | ' | ' | ' | 1,595,239 | 200,000 | 320,000 | 1,111,112 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Equity Issuance Per Share Amount | $1.67 | ' | ' | ' | $0.10 | $0.20 | $0.08 | $0.18 | $0.46 | $0.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrants Issued During Period, Value, In Connection With Convertible Debt | ' | ' | ' | ' | ' | ' | 7,232 | ' | 96,613 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.37% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.33% | ' | ' | ' | ' | ' | ' | ' | 0.33% | ' | ' | ' | 1.80% | ' | ' | ' | ' | ' | ' | ' | 1.80% | ' | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59.00% | ' | ' | ' | ' | 63.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.00% | ' | 59.00% | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,554,925 | ' | ' | ' | ' | 27,554,925 | ' | ' | ' | ' | ' | ' | 27,554,925 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.08 | ' | ' | ' | ' | $0.08 | ' | ' | ' | ' | ' | ' | $0.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Vested and Expected To Vest, Outstanding, Weighted Average Remaining Contractual Term 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,585,518 | 663,770 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Stock Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,538 | ' | ' | ' | ' | 146,538 | ' | ' | ' | ' | ' | ' | 146,538 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stockholders' Equity, Reverse Stock Split | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Under the terms of the Company's agreement with investors in the October 2008 financing, 1,920,000 shares of common stock were the maximum number of shares allocated to the Company's existing shareholders at the time of the offering (also referred to as the original shareholders or the "Founders"). Since the total of the Company's fully diluted shares of common stock was greater than 1,920,000 shares, in order for the Company to proceed with the offering, the Board of Directors approved a reverse stock split of 1-for-1.2545. After this split was approved, additional options and warrants were identified, requiring a second reverse stock split in order to reach the 1,920,000 shares. The second reverse stock split on the reduced 1-for-1.2545 balance was determined to be 1-for-1.33176963. Taken together, if only one reverse stock split was performed, the number would have been a reverse stock split of 1-for-1.670705. On June 6, 2008, the Board of Directors approved the first reverse stock split. The authorized number of shares of common stock of 20,000,000 was proportionately divided by 1.2545 to arrive at 15,942,607. On October 20, 2008, the Board of Directors (i) approved the second reverse stock split pursuant to which the authorized number of shares of common stock of 15,942,607 was proportionately divided by 1.33177 to arrive at 11,970,994 shares and (ii) approved a resolution to increase the number of authorized shares of the Company's common stock from 11,970,994 to 40,000,000, which was approved by the Company’s shareholders holding a majority of the shares entitled to vote thereon at a special meeting of shareholders held on December 3, 2008. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common stock, shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | 300,000,000 | ' | 300,000,000 | ' | ' | ' | ' | 300,000,000 | ' | 300,000,000 | ' | 200,000,000 | 80,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | ' | ' | ' | ||||||||
Convertible Note Conversion Price | ' | ' | ' | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument, Face Amount | ' | ' | ' | ' | 156,243 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Convertible Notes Converted Into Common Stock | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,116,084 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | 6,000,000 | 4,611,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument, Convertible, Conversion Price | ' | $0.10 | ' | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | $0.07 | ' | ' | $0.15 | ' | ' | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accumulated discounts on current portion of convertible debt (in dollars) | ' | ' | ' | 77,644 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | 21,138 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument, Convertible, Effective Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | 8.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares Grants Increase For Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares issued under PPM to five investors at $.07 per share (in shares) | ' | ' | 7,142,858 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,142,857 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,142,857 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,571,429 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares issued under PPM to five investors | ' | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.07 | ' | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common stock, par value (in dollars per share) | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | $0.01 | ' | $0.01 | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrants Exercise Price | ' | ' | $0.08 | $0.12 | ' | ' | ' | ' | ' | ' | ' | ' | $0.10 | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.46 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares issued under PPM to five investors at $.07 per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,142,858 | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Warrants Issued To Purchase Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 444,444 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt Instrument Interest | ' | ' | ' | ' | 11,169 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stock Issued During Period, Shares, New Issues | ' | 1,041,622 | ' | ' | 357,163 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
CommonStocksharesIssuedToConsultantExercisingOptions | ' | 200,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common stock issued to former CEO exercising option, par value | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common stock issued to former consultant exercising option, Par value | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common stock shares issued to CEO exercising options. | ' | 333,330 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stock Issued During Period, Value, Issued To Twenty Four Warrant Holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,044,490 | ' | ' | ' | ' | $1,044,490 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stock Issued During Period, Shares, Issued To Twenty Four Warrant Holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,444,898 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of net exercise provision shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,533,788 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | Adjusted for the reverse stock splits in total at June 6, 2008 and October 20, 2008. |
LOSS_PER_SHARE_Details
LOSS PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | 137 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | ||||||
Numerator: | ' | ' | ' | ' | ' | |||||
Net loss available in basic and diluted calculation | ($3,974,903) | ($2,855,713) | ($7,251,965) | ($5,704,855) | ($26,543,076) | |||||
Denominator: | ' | ' | ' | ' | ' | |||||
Weighted average common shares outstanding-basic (in shares) | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | |||||
Effect of diluted stock options and warrants (in shares) | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] |
Weighted average common shares outstanding-diluted (in shares) | 136,728,212 | 79,467,603 | 126,664,802 | 55,370,243 | 16,302,589 | |||||
Loss per common share-basic and diluted (in dollars per share) | ($0.03) | ($0.04) | ($0.06) | ($0.10) | ($1.63) | |||||
[1] | The number of shares underlying options and warrants outstanding as of September 30, 2013 and September 30, 2012 are 64,596,521 and 45,250,929 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. |
LOSS_PER_SHARE_Details_Textual
LOSS PER SHARE (Details Textual) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Options and Warrants Outstanding | $64,596,521 | $45,250,929 |
INCOME_TAXES_Details
INCOME TAXES (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Deferred Tax Asset: | ' | ' |
Net Operating Loss | $2,735,000 | $2,209,000 |
Other | 21,000 | 73,000 |
Total Deferred Tax Asset | 2,756,000 | 2,282,000 |
Less Valuation Allowance | 2,756,000 | 2,282,000 |
Net Deferred Income Taxes | $0 | $0 |
INCOME_TAXES_Details_Textual
INCOME TAXES (Details Textual) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Valuation Allowance Percentage | 100.00% |
Operating Loss Carryforwards | $11,723,000 |
Operating Loss Carryforwards, Expiration Date | 31-Dec-17 |
LONGTERM_DEBT_Details
LONG-TERM DEBT (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Total | $0 | $560,874 |
Less amount due within one year | 0 | 471,574 |
Long-Term Debt | 0 | 89,300 |
Private Placement [Member] | ' | ' |
Total | 0 | 0 |
Note Payable Issued One [Member] | ' | ' |
Total | 0 | 100,000 |
Note Payable Issued Two [Member] | ' | ' |
Total | 0 | 200,000 |
Note Payable Issued Three [Member] | ' | ' |
Total | 0 | 16,800 |
Note Payable Issued Four [Member] | ' | ' |
Total | 0 | 32,000 |
Note Payable Issued Five [Member] | ' | ' |
Total | 0 | 89,300 |
Convertible Notes Payable [Member] | ' | ' |
Total | $0 | $122,774 |
LONGTERM_DEBT_Details_1
LONG-TERM DEBT (Details 1) (USD $) | Sep. 30, 2013 |
2014 | $0 |
LONGTERM_DEBT_Details_Textual
LONG-TERM DEBT (Details Textual) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 2 Months Ended | 6 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | ||||||||||||
Jan. 31, 2013 | Jul. 31, 2007 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 11, 2013 | Apr. 30, 2013 | Nov. 30, 2012 | Mar. 28, 2012 | Jan. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Jun. 30, 2013 | |
Private Placement [Member] | Private Placement 2 [Member] | Private Placement 2 [Member] | Note Payable Issued One [Member] | Note Payable Issued Two [Member] | Note Payable Issued Three [Member] | Note Payable Issued Four [Member] | Note Payable Issued Five [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | Convertible Notes Payable [Member] | ||||||||||
Private Placement [Member] | Private Placement 2 [Member] | ||||||||||||||||||||
Note Payable Issued Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26-Oct-09 | 12-Jun-10 | 23-Dec-10 | 21-Sep-10 | 1-Jan-11 | 6-Nov-12 | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45,517 | $275,640 | $275,640 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate During Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 12.00% | 12.00% | 12.00% | 6.00% | 20.00% | ' | ' | ' |
Convertible Notes Converted Into Common Stock | 2,500,000 | ' | 1,116,084 | ' | ' | ' | ' | ' | ' | 2,500,000 | 6,000,000 | 4,611,111 | ' | ' | ' | ' | ' | 1,041,622 | ' | 2,637,534 | 5,683,210 |
Convertible Notes, Conversion Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.12 | $0.18 | ' | $0.35 | $0.18 | $0.08 | $0.18 | $0.15 | $0.10 | ' | $0.12 | $0.18 |
Debt Instrument, Maturity Date | ' | 30-Apr-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Mar-12 | 31-Mar-12 | 23-Dec-12 | 23-Dec-12 | 31-Dec-14 | 6-Apr-13 | ' | ' | ' |
Interest Paid | ' | ' | 41,264 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Negotiating Payment Plan Matuity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'February 2013 | 'February 2013 | 'February 2013 | 'February 2013 | 'March 2013 | ' | ' | ' | ' |
Debt Instrument, Convertible, Effective Interest Rate | ' | ' | ' | 24.00% | ' | ' | ' | ' | ' | 8.00% | 8.00% | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | 156,243 | ' | 300,000 | 1,000,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | $0.12 | ' | ' | ' | ' | $0.01 | $0.10 | ' | $0.07 | $0.15 | $0.20 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated discounts on current portion of convertible debt (in dollars) | $77,644 | ' | $0 | ' | $21,138 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $21,138 | ' | ' |
Shares issued at $.15 per share as conversion of debt (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 444,444 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Issued During Period Par Value Private Investor Up On Conversion Of Note Payable One | ' | ' | ' | ' | $0.15 | ' | ' | ' | ' | $0.15 | $0.18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock issued during period shares purchase of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 4,611,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RENT_OBLIGATION_Details
RENT OBLIGATION (Details) (USD $) | Sep. 30, 2013 |
2014 | $36,000 |
2015 | 37,000 |
2016 | 38,000 |
2017 | 39,000 |
2018 | $3,600 |
RENT_OBLIGATION_Details_Textua
RENT OBLIGATION (Details Textual) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Lease Period Extended | 'five years | ' |
Operating Leases, Rent Expense | $46,321 | $39,593 |
Lease Expiration Date | 31-Jan-18 | ' |
LIABILITY_FOR_EQUITYLINKED_FIN2
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
Stock price | ' | ' | ' | ' | $0.35 | ' |
Exercise price | ' | ' | ' | ' | $0.46 | ' |
Expected life | '5 years | ' | ' | ' | '2 years 6 months | ' |
Expected volatility - Minimum | 54.00% | 54.00% | 54.00% | 54.00% | 54.00% | 53.00% |
Expected volatility - Maximum | 66.00% | 66.00% | 66.00% | 66.00% | 66.00% | 66.00% |
Assumed dividend rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Risk-free interest rate - Minimum | 0.13% | 0.13% | 0.13% | 0.13% | 0.13% | 2.00% |
Risk-free interest rate - Maximum | 2.97% | 2.97% | 2.97% | 2.97% | 2.97% | 4.50% |
Minimum [Member] | ' | ' | ' | ' | ' | ' |
Stock price | 0.35 | 0.35 | 0.35 | $0.35 | $0.35 | ' |
Exercise price | 0.13 | 0.13 | 0.13 | $0.13 | $0.13 | ' |
Expected life | '4 days | '4 days | '4 days | '4 days | '4 days | '2 years 6 months |
Maximum [Member] | ' | ' | ' | ' | ' | ' |
Stock price | 0.5 | 0.5 | 0.5 | $0.50 | $0.50 | ' |
Exercise price | 0.5 | 0.5 | 0.5 | $0.50 | $0.50 | ' |
Expected life | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '7 years 6 months |
LIABILITY_FOR_EQUITYLINKED_FIN3
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2010 | Jun. 30, 2010 | Mar. 31, 2010 | Dec. 31, 2009 | Sep. 30, 2009 | Jun. 30, 2009 | Sep. 30, 2010 | Dec. 31, 2008 | |
Value At 2009 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Value | ' | ' | ' | $12,081 | $40,481 | $149,007 | ' | $870,278 |
Total | ' | ' | ' | ' | ' | ' | 1,071,847 | ' |
Value At 2010 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Value | 10,615 | 592 | 539 | 28 | 62 | 1,604 | ' | 1,506 |
Total | ' | ' | ' | ' | ' | ' | 14,946 | ' |
Gain Loss 2010 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Gain (Loss) | 20,811 | 30,740 | 25,014 | 12,053 | 40,419 | 147,403 | ' | 868,772 |
Total | ' | ' | ' | ' | ' | ' | 1,145,212 | ' |
Value At 2011 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Value | 54,775 | 6,714 | 6,109 | 752 | 1,624 | 6,293 | ' | 89,796 |
Total | ' | ' | ' | ' | ' | ' | 166,063 | ' |
Gain Loss 2011 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Gain (Loss) | -44,160 | -6,122 | -5,571 | -724 | -1,562 | -4,689 | ' | -88,290 |
Total | ' | ' | ' | ' | ' | ' | -151,118 | ' |
Value At 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Value | 53,437 | 631 | 2,408 | 337 | 714 | 0 | ' | 111,652 |
Total | ' | ' | ' | ' | ' | ' | 169,179 | ' |
Gain Loss 2012 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Gain (Loss) | 1,338 | 6,083 | 3,701 | 78 | 910 | 6,293 | ' | -21,856 |
Total | ' | ' | ' | ' | ' | ' | -3,453 | ' |
Value At 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Initial Value | 0 | 0 | 0 | 0 | 0 | 0 | ' | 15,219 |
Total | ' | ' | ' | ' | ' | ' | 15,219 | ' |
Gain Loss 2013 [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Gain (Loss) | 53,437 | 631 | 2,408 | 337 | 714 | 0 | ' | 96,433 |
Total | ' | ' | ' | ' | ' | ' | $153,960 | ' |
LIABILITY_FOR_EQUITYLINKED_FIN4
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2013 | Dec. 31, 2009 | Dec. 31, 2012 | Jan. 02, 2009 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||||
Warrants Not Settleable In Cash, Fair Value Disclosure | ' | ' | ' | $479,910 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Life | '5 years | '2 years 6 months | ' | ' | '4 days | '4 days | '4 days | '4 days | '4 days | '2 years 6 months | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '2 years 2 months 12 days | '7 years 6 months |
Reduction In Stock Price | ' | ' | ' | ' | ' | ' | ' | $0.50 | ' | ' | ' | ' | ' | $0.22 | ' | ' |
Additional Paid in Capital | ' | ' | ' | 486,564 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained Earnings (Accumulated Deficit) | ' | ' | ' | 6,654 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Current Liabilities | $1,385,174 | ' | $3,414,301 | $479,910 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 59.00% | 63.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice | ' | $0.46 | ' | ' | $0.13 | $0.13 | $0.13 | $0.13 | $0.13 | ' | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsStockPrice | ' | $0.35 | ' | ' | $0.35 | $0.35 | $0.35 | $0.35 | $0.35 | ' | $0.50 | $0.50 | $0.50 | $0.50 | $0.50 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | 1.37% | ' | ' | 0.33% | ' | ' | ' | ' | ' | 1.80% | ' | ' | ' | ' | ' |
RELATED_PARTY_TRANSACTIONS_Det
RELATED PARTY TRANSACTIONS (Details Textual) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | ||||||||||||||||||||||||
Apr. 30, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | Jun. 30, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 11, 2013 | Jan. 31, 2013 | Sep. 30, 2012 | Aug. 13, 2012 | Mar. 28, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Mar. 28, 2012 | Mar. 28, 2012 | Dec. 31, 2008 | Sep. 11, 2013 | Aug. 31, 2012 | Apr. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2012 | Sep. 11, 2013 | 31-May-12 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2012 | Mar. 14, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 | |
Minimum [Member] | Maximum [Member] | First Advance [Member] | Second Advance [Member] | Related Party [Member] | Samuel Herschkowitz [Member] | Samuel Herschkowitz [Member] | Samuel Herschkowitz [Member] | Samuel Herschkowitz [Member] | Samuel Herschkowitz [Member] | Sok Partners [Member] | Sok Partners [Member] | Sok Partners [Member] | Sok Partners [Member] | Sok Partners [Member] | Sok Partners [Member] | Sok Partners [Member] | Dr Herschkowitz and Sok Partners Llc [Member] | Gadbaw [Member] | Morawetz [Member] | Board of Directors Chairman [Member] | Director [Member] | ||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||
Payments Made To Officers One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000 | ' |
Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments Made To Officers Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 |
Related Party Transaction, Due from (to) Related Party | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts Payable, Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Converible Note Percentage | ' | 20.00% | 20.00% | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Converible Note Principal Amount | ' | 156,243 | 600,000 | ' | ' | 240,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 357,282 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Effective Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advance Under Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 84,657 | ' | ' | ' | ' | ' | ' | ' | 300,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Advance Net Of Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price | $0.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | $0.12 | ' | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,615,385 | 4,615,385 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Conversion of Units | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Other | ' | ' | ' | ' | ' | 1,546,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Transferred During Period | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued Related Party Transactions One | ' | ' | ' | 277,778 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price Per Share Related Party Transactions | ' | ' | ' | $0.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation Issued In Lieu Of Cash | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Shares Related Party Transactions | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Price Per Share Related Party Transactions | ' | ' | ' | $0.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued Related Party Transactions Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Convertible Conversion Price Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Convertible Conversion Price Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Issued Related Party Transactions Three | ' | 1,562,430 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Related Party Debt | ' | 155,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Note Due Date | 31-Aug-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Description of Transaction | ' | ' | ' | ' | ' | ' | ' | ' | 'financing raising not less than $1 million, compensation of $75,000; (ii) a going private transaction, compensation of $200,000 and (iii) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $3,000,000. In May 2013 Dr. Herschkowitz received $75,000 after the Company surpassed raising $1 million. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Bonus Valued At Common Stock Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | $0.07 | ' | ' | ' | ' | ' | ' |
Additional Issue Of Common Stock Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' |
Stock Issued During Period Shares New Issues | 1,041,622 | 357,163 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | 13,250,000 | ' | ' | ' | ' | 13,250,000 | ' | ' | ' | ' |
Percentage Of Interest Rate On Event Of Default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 24.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Accrued Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds From Offering Of Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation Payment Pursuant To Merger | ' | ' | ' | ' | ' | ' | ' | 'listing the Companys shares on NASDAQ pursuant to an underwritten offering of the Companys securities resulting in gross proceeds of between $5 million and $30 million, then the Company would have been required to deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $10,000 for such expenses. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Shares received on resignation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 | ' | ' |
Common shares received per share on resignation | ' | ' | ' | ' | ' | ' | $0.33 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation received from serving as board members | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of shares to satisy previous contractual agreements | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Periodic Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $314,484 | ' | ' | ' | ' | $680,444 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,463,172 | ' | ' | ' | ' | 48,603,721 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |