Annual report pursuant to Section 13 and 15(d)

Derivatives (Details 1)

v2.4.0.8
Derivatives (Details 1) (USD $)
 1 Months Ended 12 Months Ended
Dec. 19, 2012
Dec. 27, 2012
Jan. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Summary of fair values of derivative warrants on basis of valuation model            
Market value of common stock on measurement date (1) $ 0.39 [1] $ 0.39 [1] $ 0.37 [1] $ 5.89 [1] $ 0.39 [1] $ 0.37 [1]
Adjusted exercise price       $ 2.48    
Risk free interest rate (2)   0.94% 1.24% [2] 1.27%   1.35% [2]
Warrant lives in years   6 years 7 years 6 months   7 years
Expected volatility (3)   161.00% [3] 157.00% 73.00% [3]   156.00% [3]
Expected dividend yield (4)    [4]    [4]    [4]         [4]
Probability of stock offering in any period over 5 years (5) 25.00% [5] 25.00% [5] 25.00% [5] 25.00% 25.00% [5] 25.00% [5]
Range of percentage of existing shares offered (6) 35.00% [6] 35.00% [6] 35.00% [6] 35.00% [6] 35.00% [6] 35.00% [6]
Offering price range (7)       $ 9 [7]    
Maximum [Member]
            
Summary of fair values of derivative warrants on basis of valuation model            
Adjusted exercise price $ 0.83 $ 0.26 $ 0.26   $ 0.83 $ 0.26
Risk free interest rate (2) 0.77% [2]       0.77% [2]  
Warrant lives in years 5 years       5 years  
Expected volatility (3) 161.00% [3]       161.00% [3]  
Offering price range (7) $ 0.55 [7] $ 0.60 [7] $ 0.56 [7]   $ 0.55 [7] $ 0.55 [7]
Minimum [Member]
            
Summary of fair values of derivative warrants on basis of valuation model            
Adjusted exercise price $ 0.41 $ 0.22 $ 0.23   $ 0.41 $ 0.24
Risk free interest rate (2) 0.10% [2]       0.10% [2]  
Warrant lives in years 4 months       4 months  
Expected volatility (3) 125.00% [3]       125.00% [3]  
Offering price range (7) $ 0.01 [7] $ 0.12 [7] $ 0.13 [7]   $ 0.01 [7] $ 0.18 [7]
[1] The market value of common stock is based on the Company's enterprise valuation at and prior to December 31, 2012. The market value of common stock at December 31, 2013 is based on the Company's trading price quoted on the OTC Markets.
[2] The risk-free interest rate was determined by management using the Treasury Bill as of the respective measurement date.
[3] Because the Company does not have adequate trading history to determine its historical trading volatility, the volatility factor was estimated by management using the historical volatilities of comparable companies in the same industry and region.
[4] Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.
[5] Management determines the probability of future stock offering at each evaluation date.
[6] Management estimates that the range of percentages of existing shares offered in each stock offering will be 35% of the shares outstanding.
[7] Represents the estimated offering price range in future offerings as determined by management.