Convertible Notes Payable (Details Narrative 2) (USD $)
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6 Months Ended | 0 Months Ended | |
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Jun. 30, 2013
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Dec. 31, 2012
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Mar. 13, 2012
March 2012 Purchase Order Notes (10% senior convertible promissory)
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Short-term Debt [Line Items] | |||
Aggregate amount of convertible promissory notes | $ 2,210,971 | $ 1,472,152 | $ 1,000,000 |
Proceeds from convertible promissory notes | 6,555,274 | 1,000,000 | |
Notes payable, Conversion price (in dollars per share) | $ 1.50 | ||
Prohibition to conversion of Note Payable |
A conversion of the Purchase Order Note, to the extent that as a result of such conversion, the holder would beneficially own more than 4.99% (subject to waiver) in the aggregate of the issued and outstanding shares of the Companys common stock, calculated immediately after giving effect to the issuance of shares of common stock upon conversion of the Purchase Order Note. |
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Notes payable, Payment Terms | (1) the Final Maturity Date, (2) the consummation of a financing by the Company resulting in net proceeds equal to or greater than 1.5 times the remaining outstanding unconverted principal amount and (3) the occurrence of an Event of Default (as defined in the Purchase Order Note) | ||
Repayments of convertible promissory notes | $ 600,000 |
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- Definition
This element refers to conversion price of notes payable. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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