General form of registration statement for all companies including face-amount certificate companies

JANUARY AND MARCH 2012 FINANCING (Tables)

v2.4.0.8
JANUARY AND MARCH 2012 FINANCING (Tables)
 12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Schedule Of Share-Based Payment Award, Warrants, Valuation Assumptions [Table Text Block]

The following assumptions were used in the Binomial Lattice model to determine fair value of the Class A Warrants and the Agent Warrants:

 

    Issuance date
January 20 and
March 1, 2012 		    Expiration date
June 6, 2012 		 
Price of the Company’s common stock   $ 12.40     $ 17.00  
Dividend yield     0 %     0 %
Expected terms     5 – 7 years       4.6 - 6.7 years  
Risk free interest rate     0.89 - 1.47 %     0.73 - 1.11 %
Expected volatility     96.68 - 96.69 %     95.73 %
Expected price at which holders are likely to exercise their warrants   $ 25.00     $ 25.00