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Liquidity
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6 Months Ended |
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Jun. 30, 2011
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| Liquidity [Abstract] | |
| Liquidity |
(3) Liquidity
The Company generated net loss allocable to common stockholders of $4,043,000 for the six months ended June 30, 2011 and a loss of $9,328,000 for the year ended December 31, 2010. At June 30, 2011, our working capital deficit was $8,400,000. Management believes that our current cash and expected license fees should fund our expected burn rate into the first quarter of 2012. We are a party to a $5.5 million convertible note due on September 13, 2011. On July 12, 2011, we announced we signed an agreement to restructure the outstanding $5.5 million convertible note (See Footnote 7 – Subsequent Events). We will require additional funds to continue operations. These funds are expected to come from the future sales of equity and/or license agreements. If we are unable to obtain adequate capital funding in the future or enter into future license agreements for our products, we may not be able to continue as a going concern, which would have an adverse effect on our business and operations, and investors' investment in us may decline.
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