| Schedule of Subsequent Events [Table Text Block] |
The Company entered into Amended and Restated Bridge Financing Purchase Agreements in connection with the 2012 Bridge Financing with the following accredited investors as detailed in the table below and issued to them October 2012 Notes in the following amounts:
| Investor |
|
Date |
|
|
Amount
($) |
|
| Robert Follman(1) |
|
|
10/19/2012 |
|
|
|
200,000 |
|
| Extuple Limited Partnership(2) |
|
|
10/25/2012 |
|
|
|
200,000 |
|
| SAIL 2010 Co-Investment Partners, LP(3) |
|
|
10/26/2012 |
|
|
|
20,000 |
|
| SAIL 2011 Co-Investment Partners, LP(3) |
|
|
10/26/2012 |
|
|
|
20,000 |
|
| SAIL Venture Partners II, LP(3) |
|
|
10/26/2012 |
|
|
|
50,000 |
|
| AlphaNorth Offshore, Inc.(2) |
|
|
11/6/2012 |
|
|
|
100,000 |
|
| Argyris & Ann Vassiliou(2) |
|
|
11/28/2012 |
|
|
|
25,000 |
|
| George Carpenter(4) |
|
|
11/28/2012 |
|
|
|
50,000 |
|
| John Pappajohn(5) |
|
|
11/28/2012 |
|
|
|
500,000 |
|
| Andy Sassine(6) |
|
|
11/29/2012 |
|
|
|
25,000 |
|
| Mark& Jill Oman(2) |
|
|
11/29/2012 |
|
|
|
250,000 |
|
| Ronald Dozoretz MD(2) |
|
|
11/29/2012 |
|
|
|
100,000 |
|
| Larry Hopfenspirger(2) |
|
|
11/30/2012 |
|
|
|
60,000 |
|
| Total Gross Proceeds to the Company |
|
|
|
|
|
$ |
1,600,000 |
|
| (1) |
Robert Follman is a limited partner of SAIL Venture Partners, LP and is a director nominee of the Company. The Note is held in the Declaration of Trust of Robert J. Follman and Carole A. Follman. Dated August 14, 1978 of which Mr. Follman is a Trustee. |
| (2) |
All are accredited investors and except for Extuple Limited Partners and Mark and Jill Oman all have invested in the Company previously. |
| (3) |
Mr. Walter Schindler became a director of the Company in November 2012 and is the managing member of the general partner of SAIL, of which SAIL 2010 Co-Investment Partners, L.P., SAIL 2011 Co-Investment Partners, L.P., SAIL Venture Partners II, LP and SAIL Holdings, LLC are affiliates. Mr. Jones, who was Chairman of the Board of Directors until November 30, 2012 was also a managing member of the general Partner of SAIL and remains a limited partner of SAIL. |
| (4) |
George Carpenter is the Chief Executive Officer of the Company. |
| (5) |
John Pappajohn is a director of the Company. $200,000 of the aggregate principal amount of $500,000 sold to Mr. Pappajohn were the exchanged for two nonconvertible demand notes held by Mr. Pappajohn. |
| (6) |
Andy Sassine is a director nominee of the Company. |
|