Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED) (USD $)
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Beginning Balance, Amount at Dec. 31, 2011 $ 104,352 $ 124,483,161 $ (118,344,196) $ 6,243,317
Beginning Balance, Shares at Dec. 31, 2011 104,349,507      
Shares issued to directors and management, Amount 637 101,363   102,000
Shares issued to directors and management, Shares 638,104      
Stock-based compensation expense related to employee stock options   104,928   104,928
Shares issued to preferred share holders for warrants exercided, Amount 3,115,390 401,884   405,000
Shares issued to preferred share holders for warrants exercised, Shares 3,116      
Accretion of redeemable preferred stock discount   (519,578)   (519,578)
Accretion of redeemable preferred stock dividend   (203,674)   (203,674)
Net loss     (58,430) (58,430)
Ending Balance, Amount at Sep. 30, 2012 $ 108,105 $ 124,368,084 $ (118,402,626) $ 6,073,563
Ending Balance, Shares at Sep. 30, 2012 108,103,001