Annual report pursuant to section 13 and 15(d)

5. Convertible notes and warrants (Details Narrative)

v2.4.0.6
5. Convertible notes and warrants (Details Narrative) (USD $)
12 Months Ended 178 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Dec. 31, 2006
Dec. 31, 2005
Dec. 31, 2004
Dec. 31, 2003
Dec. 31, 2012
Proceeds from convertible notes $ 1,835,840 $ 5,360,070                 $ 18,400,888
Fair value of warrants issued               18,462 1,614,138    
Assumptions used                      
Beneficial conversion feature 1,888,211 5,666,345 2,305,311 540,324 1,323,077 1,253,548 1,259,696 1,453,181      
Notes converted, value 3,789,634 4,965,370 4,417,417   1,958,245 526,480 2,359,866   91,800 500,000  
Discount amortized to interest expense 3,620,092 5,069,446                 19,754,169
Convertible notes and warrants
                     
Convertible notes aggregate value 2,069,174 6,232,979                 2,069,174
Proceeds from convertible notes 1,835,840 5,360,070                  
Original issue discount 180,963 566,634                 180,963
Accounts payable converted upon issuance of convertible notes 52,371 306,275                 52,371
Implied interest rate 10.00% 10.00%                 10.00%
Warrants issued to convert into common stock shares 7,423,316 24,931,916                  
Fair value of warrants issued 839,131 2,970,311                  
Assumptions used                      
Risk free interest rate 26.00% 28.00%                  
Dividend yield 0.00% 0.00%                  
Volatility rate 111.00% 118.00%                  
Expected life 2 years 6 months 2 years                  
Beneficial conversion feature 1,049,080 2,696,034                  
Notes converted, value 3,789,634 4,965,370                  
Notes converted into common stock shares 14,305,159 19,861,478                  
Discount amortized to interest expense $ 3,626,223 $ 5,069,446