Annual report pursuant to Section 13 and 15(d)

Preferred Stock Warrants and Warrant Liability (Tables)

v2.4.0.8
Preferred Stock Warrants and Warrant Liability (Tables)
 12 Months Ended
Dec. 31, 2012
Preferred Stock Warrants and Warrant Liability [Abstract]  
Information relating Preferred Stock Warrants
                 

Warrants

   Remaining
Number
Outstanding		     Exercise Price  

Series C Warrants-2008 Loan and Security Agreement

     280,803     $ 0.7345  

Series D Warrants-2009 Convertible Debt

     4,368,948     $ 0.1198  

Series D Warrants-Series D Preferred Stock Issuance

     8,347,236     $ 0.1198  

*Series D Warrants-1 st Amendment

     6,243,362     $ 0.1198  

*Series D Warrants-2 nd Amendment

     8,694,558     $ 0.1198  

*Series D Warrants-3 rd Amendment

     4,462,227     $ 0.1198  

*Series D Warrants-5 th Amendment

     2,260,440     $ 0.1198  

*Series D Warrants-6 th Amendment

     6,900,685     $ 0.1198  
   

 

 

          

Total

     41,558,259          
   

 

 

          

 

* Warrants issued to lenders in conjunction with amendments to 2008 Loan and Security Agreement (see Note 7).
Fair value of the warrants using binomial lattice valuation model
     
    2011

Exercise price

   $0.1198 – $0.7345

Market value of stock at end of period

   $0.01

Expected dividend rate

   0.00%

Expected volatility

   33.47% – 62.86%

Risk-free interest rate

   0.03% – 3.18%

Expected life in years

   3.40 – 9.90

Shares underlying warrants outstanding classified as liabilities

   41,558,259