Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Details)

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STOCKHOLDERS' EQUITY (Details) (USD $)
 0 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Feb. 04, 2008
Nov. 07, 2007
Dec. 31, 2012
Dec. 31, 2009
Feb. 04, 2008
Warrants [Member]
Nov. 07, 2007
Warrants [Member]
Dec. 31, 2012
Warrants [Member]
Dec. 31, 2012
2012 Series B private placement [Member]
Dec. 31, 2012
2012 investor relations advisor [Member]
Dec. 31, 2011
2011 November Private Placement (1) [Member]
Dec. 31, 2012
2011 November Private Placement (1) [Member]
Dec. 31, 2011
2011 November Private Placement (1) [Member]
Warrants [Member]
Dec. 31, 2012
2011 November Private Placement (1) [Member]
Warrants [Member]
Dec. 31, 2012
2011 November Private Placement (1) [Member]
Warrant2 [Member]
Dec. 31, 2012
2011 November Private Placement (2) [Member]
Dec. 31, 2012
2011 November Private Placement (2) [Member]
Warrants [Member]
Dec. 31, 2011
2011 November Private Placement (2) [Member]
Warrant2 [Member]
Dec. 31, 2012
2011 November Private Placement (2) [Member]
Warrant2 [Member]
Dec. 31, 2012
2011 November Placement Agent Warrants [Member]
Dec. 31, 2012
2011 November Placement Agent Warrants [Member]
Warrants [Member]
Dec. 31, 2012
2011 November Placement Agent Warrants [Member]
Warrant2 [Member]
Dec. 31, 2012
2011 Investor Relations Advisor 1 [Member]
Dec. 31, 2012
2010 December Registered Direct Offering [Member]
Dec. 31, 2012
2010 January Registered Direct Offering [Member]
Dec. 31, 2012
2010 January Placement Agent Warrants [Member]
Dec. 31, 2010
2010 Investor Relations Advisor 2 [Member]
Dec. 31, 2012
2010 Investor Relations Advisor 2 [Member]
Dec. 31, 2012
2010 Investor Relations Advisor 3 [Member]
Dec. 31, 2012
2009 Investor Relations Advisor 4 [Member]
Dec. 31, 2010
2009 Business Consultant [Member]
Dec. 31, 2012
2009 Business Consultant [Member]
Dec. 31, 2009
2009 Business Consultant [Member]
Dec. 31, 2012
2008 Preferred Stock Offering [Member]
Dec. 31, 2011
2008 Preferred Stock Offering [Member]
Dec. 31, 2010
2008 Preferred Stock Offering [Member]
Dec. 31, 2009
2008 Preferred Stock Offering [Member]
Dec. 31, 2012
2008 Somanta Accounts Payable [Member]
Dec. 31, 2012
2008 Investor Relations Advisor 5 [Member]
Dec. 31, 2012
2008 Investor Relations Advisor 6 [Member]
Dec. 31, 2012
2007 Preferred Stock Offering [Member]
Dec. 31, 2011
2007 Preferred Stock Offering [Member]
Dec. 31, 2010
2007 Preferred Stock Offering [Member]
Dec. 31, 2009
2007 Preferred Stock Offering [Member]
Dec. 31, 2012
2006 Convertible Note 1 [Member]
Dec. 31, 2012
2006 Convertible Note 2 [Member]
Dec. 31, 2012
2006 Convertible Note 3 [Member]
Dec. 31, 2012
2006 Convertible Notes [Member]
Dec. 31, 2012
2006 Convertible Notes [Member]
Warrants [Member]
Dec. 31, 2012
2011 Private Placement Offering - New Common Stock and Warrants [Member]
Dec. 31, 2011
2011 Private Placement Offering - New Common Stock and Warrants [Member]
Class of Warrant or Right [Line Items]                                                                                                    
Warrants Outstanding (in shares)     35,733,943         20,000,000 [1] 30,000 [2]   2,144,656 [3]   1,857,156 287,500 2,144,656 [3] 1,857,156   287,500 36,893 [3] 18,447 18,446 12,500 [4] 930,664 [5] 1,041,432 [6] 125,109 [6]   60,000 [7] 55,000 [8] 25,000 [9]   60,000 [10]   499,584 [11]       246,753 [12] 50,000 [13] 40,000 [14] 3,649,880 [15]       3,818,180 [16] 386,364 [16] 377,272 [16] 4,581,816      
Exercise Price (in dollars per share)       $ 3.50       $ 0.50 [1] $ 1.77 [2]   $ 1.67 [3]       $ 2.00 [3]           $ 2.00 [3] $ 2.30 [4] $ 3.06 [5] $ 3.00 [6] $ 3.75 [6]   $ 2.16 [7] $ 2.63 [8] $ 3.50 [9]   $ 2.07 [10]   $ 0.50 [11]       $ 3.50 [12] $ 3.15 [13] $ 3.00 [14] $ 0.50 [15]     $ 3.50 $ 1.32 [16] $ 1.32 [16] $ 1.32 [16]        
Expiration Date                     2010/05&2014/30 [3]       11/2010 & 30/2016 [3]       11/2010 & 30/2016 [3]                                                              
Expiration Date               Oct. 24, 2018 [1] Apr. 19, 2014 [2]   May 10, 2014       Nov. 10, 2016       Nov. 10, 2016     Apr. 15, 2014 [4] Dec. 14, 2015 [5] Jan. 26, 2015 [6] Jan. 26, 2015 [6]   Oct. 01, 2013 [7] Oct. 14, 2013 [8] Nov. 04, 2014 [9]   Jul. 23, 2014 [10]   Feb. 24, 2014 [11]       Jan. 04, 2014 [12] Jan. 03, 2013 [13] Sep. 01, 2013 [14] Nov. 10, 2013 [15]       Feb. 16, 2015 [16] Oct. 24, 2015 [16] Dec. 06, 2015 [16]        
Exercisable period of warrants 6 years 6 years                                                                           6 years             6 years   5 years  
Investor relations consulting services expense                 $ 10,000                         $ 17,000                                                        
Fair value of warrants (in dollars per share) $ 2.29 $ 2.59 $ 3.50                                                           $ 2.29             $ 2.50                    
Expected dividend yield (in hundredths)         0.00% 0.00%                                                     0.00%             0.00%                    
Risk-free interest rate (in hundredths)         2.75% 3.84%                                                     2.75%             3.84%                    
Expected volatility rate (in hundredths)         110.00% 110.00%                                                     110.00%             114.00%                    
Expected term         6 years 6 years 6 years                                                   6 years             6 years                    
Warrants received by investor relation advisor to purchase common stock (in shares)     3,895,047                                             194,000           150,000                                    
Warrants expired (in shares)                                                   134,000       90,000                                        
Decreased exercise price of warrants (in dollars per share)                                                                 $ 0.50 $ 1.45 $ 2.55 $ 3.00       $ 0.50 $ 1.45 $ 2.55 $ 3.00              
Purchase price of Somanta Pharmaceuticals Inc.                                                                         1,576,000                          
Number of common shares issued in acquisition (in shares)                                                                         538,508                          
Warrants extended exercisable period                                                                                               3 years    
Sale of shares of common stock (in shares)                   4,289,312                                                                                
Warrants to acquire shares of common stock (in shares)                       2,144,656         2,144,656                                                                  
Aggregate purchase price of common stock and warrants                                                                                                   6,200,000
Proceeds, net of cash issuance costs from the sale                                                                                                   $ 5,800,000
Issuance of warrants for placement agent fees (in shares) 45,417 209,000                                   18,447 18,446                                                          
[1] In connection with a private placement offering on October 25, 2012, warrants to purchase 20,000,000 shares of common stock at $0.50 per share were issued. All of the warrants are exercisable immediately and expire on October 24, 2018.
[2] During 2012, an investor relations advisor received warrants to purchase 30,000 shares of common stock at an exercise price of $1.77 per share exercisable at any time until April 19, 2014, for investor relations consulting services rendered in 2012. The expense recorded for the year ended December 31, 2012 was $10,000.
[3] In connection with a private placement offering on November 10 and 30, 2011, warrants to purchase 2,144,656 shares of common stock at $1.67 per share were issued. All of the warrants are exercisable immediately and 1,857,156 warrants expire May 10, 2014 and 287,500 warrants expire May 30, 2014. In connection with a private placement offering on November 10 and 30, 2011, additional warrants to purchase 2,144,656 shares of common stock at $2.00 per share were issued. All of the warrants are exercisable immediately and 1,857,156 warrants expire November 10, 2016 and 287,500 warrants expire November 30, 2016. Also in connection with a private placement offering on November 10 and 30, 2011, placement agent warrants to purchase 18,447 shares of common stock at $1.67 per share were issued. Also in connection with a private placement offering on November 10 and 30, 2011, placement agent warrants to purchase 18,446 shares of common stock at $2.00 per share were issued. All the placement agent warrants are exercisable immediately and 18,447 warrants expire November 10, 2016 and 18,446 warrants expire November 30, 2016.
[4] During 2011, an investor relations advisor received warrants to purchase 12,500 shares of common stock at an exercise price of $2.30 per share at any time until April 15, 2014, for investor relations consulting services rendered in 2011. The expense recorded for the year ended December 31, 2011 was $17,000.
[5] In connection with a registered direct offering on December 14, 2010, warrants to purchase 930,664 shares of common stock at $3.06 per share were issued. All of the warrants are exercisable immediately and expire December 14, 2015.
[6] In connection with a registered direct offering on January 26, 2010, warrants to purchase 1,041,432 shares of common stock at $3.00 per share were issued. All of the warrants are exercisable immediately and expire January 26, 2015. In addition, we issued warrants for placement agent fees to purchase 125,109 shares of our common stock at an exercise price of $3.75 per share. All of the warrants are exercisable immediately and expire January 26, 2015.
[7] During 2010, an investor relations advisor received warrants to purchase 194,000 shares of common stock at an exercise price of $2.16 per share for investor relations consulting services rendered in 2010 and 2011. Our common stock did not reach a target price by February 28, 2011 and according to the agreement 134,000 warrants expired and no further expense was recorded.Warrants to purchase 60,000 shares of common stock are exercisable and outstanding at December 31, 2011 and expire October 1, 2013.
[8] During 2010, an investor relations advisor received warrants to purchase 55,000 shares of common stock at an exercise price of $2.63 per share at any time until October 14, 2013, for investor relations consulting services rendered in 2010.
[9] During 2010, an investor relations advisor received warrants to purchase 25,000 shares of common stock at an exercise price of $3.50 per share at any time until November 4, 2014, for investor relations consulting services rendered in 2010.
[10] During 2009, a business consultant received warrants to purchase 150,000 shares of common stock at an exercise price of $2.07 per share at any time until July 23, 2014, for business consulting services rendered in 2009. 60,000 of the warrants were exercisable on December 31, 2011.The remaining 90,000 warrants expired July 23, 2010 because our stock did not reach specified trading prices.
[11] In connection with the preferred stock offering in February 2008, warrants to purchase a total of 499,584 shares of common stock were issued. All of the warrants are exercisable immediately and expire February 24, 2014. The fair value of the warrants was $2.29 per share on the date of the grant using the Black-Scholes pricing model with the following assumptions: expected dividend yield 0.0%, risk-free interest rate 2.75%, expected volatility 110% and a term of 6 years.The exercise price of $3.50 was decreased to $3.00 after the January 2010 placement; to $2.55 after the December 2010 placement; to $1.45 after the November 2011 placement; and, to $0.50 after the October 2012 placement.
[12] In connection with our acquisition of Somanta Pharmaceuticals, Inc. (Somanta) we exchanged for $1,576,000 due to Somanta vendors, for 538,508 shares of our common stock and warrants to purchase 246,753 shares of common stock at $3.50. The warrants expire January 4, 2014.
[13] During 2008, an investor relations advisor received warrants to purchase 50,000 shares of common stock at an exercise price of $3.15 per share at any time until January 3, 2013, for investor relations consulting services rendered in 2008.
[14] During 2008, an investor relations advisor received warrants to purchase 40,000 shares of common stock at an exercise price of $3.00 per share at any time until September 1, 2013, for investor relations consulting services. All of the warrants are exercisable.
[15] In connection with the preferred stock offering in November 2007, warrants to purchase a total of 3,649,880 shares of common stock were issued. All of the warrants are exercisable immediately and expire six years from date of issue. The fair value of the warrants was $2.50 per share on the date of the grant using the Black-Scholes pricing model with the following assumptions: expected dividend yield 0.0%, risk-free interest rate 3.84%, expected volatility 114% and a term of 6 years.The exercise price of $3.50 was decreased to $3.00 after the January 2010 placement; to $2.55 after the December 2010 placement;to $1.45 after the November 2011 placement;and, to $0.50 after the October 2012 placement.
[16] In connection with the convertible note offerings in 2006, warrants to purchase a total of 4,581,816 shares of common stock at $1.32 per share were issued. All of the warrants are exercisable immediately and expire six years from date of issue. On February 10, 2012 these warrants were extended an additional three years.