Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

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STOCKHOLDERS' EQUITY
3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
4. STOCKHOLDERS’ EQUITY
 
Common Stock Warrants
 
The following table summarizes information with regard to outstanding warrants to purchase common stock as of March 31, 2014.
 
Offering
 
Number of Shares
Issuable Upon
Exercise of
Outstanding
Warrants
 
Exercise
Price
 
Expiration Date
 
 
 
 
 
 
 
 
 
 
 
February 2014 Private Placement (1)
 
 
8,000,000
 
$
1.00
 
February 6, 2019
 
February 2013 Public Offering (2)
 
 
11,000,000
 
 
0.50
 
February 20, 2018
 
February 2013 Public Offering – Placement Agents
 
 
770,000
 
 
0.625
 
February 4, 2018
 
November 2012 Private Placement
 
 
1,000,000
 
 
1.25
 
November 2, 2017
 
June 2012 Public Offering
 
 
2,981,440
 
 
1.25
 
June 13, 2017
 
December 2011 Underwritten Offering
 
 
9,248,334
 
 
0.60
 
December 6, 2016
 
April 2011 Private Placement
 
 
6,058,811
 
 
0.75
 
March 31, 2016
 
Legacy warrants (2)
 
 
27,310
 
 
0.50
 
July 27, 2015
 
Legacy warrants
 
 
105,040
 
 
16.065
 
July 27, 2015
 
Legacy warrants
 
 
91,524
 
 
99.45-100.98
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Total
 
 
39,282,459
 
 
 
 
 
 
 
(1)
Warrants issued in connection with the sale of convertible debentures. As described in Note 3, the warrants are only exercisable following conversion of the associated debentures.
(2)
The exercise prices of these warrants are subject to adjustment for “down-rounds” and the warrants have been accounted for as a derivative instrument as described in Note 2.
 
On February 20, 2014, warrants to purchase 5,500,000 shares of common stock issued in connection with the February 2013 Public Offering, having an exercise price of $0.50 per share, expired unexercised.