Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments

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Derivative Instruments
 6 Months Ended
Jun. 30, 2013
Derivative Instruments [Abstract]  
Derivative Instruments

7. Derivative Instruments

Certain embedded features of our convertible securities and notes payable, as well as warrants to purchase our common stock, may be treated as derivative liabilities.  We do not use derivative instruments for hedging of market risks or for trading or speculative purposes.

 

No derivative liabilities were outstanding as of June 30, 2013 or December 31, 2012.The net effect of marking the Company’s derivative liabilities to market during the three-month and six month periods ended June 30, 2012  resulted in net increases in the estimated fair values of the derivative liabilities of approximately $93,000 and $277,000, respectively, which were recorded as non-cash expense.