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Product Description
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SEC Filings
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Section 16 Filings Only
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Financial liabilities carried at fair value on a recurring basis at June 30, 2011 and December 31, 2010 are classified in the tables below in one of the three categories described above:
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June 30, 2011
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Level 1
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Level 2
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Level 3
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Total
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Derivative liability
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—
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$
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3,779,000
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—
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$
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3,779,000
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December 31, 2010
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Level 1
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Level 2
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Level 3
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Total
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Derivative liability
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—
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$
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611,000
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—
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$
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611,000
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The assumptions used in the June 30, 2011 fair value measurement of warrants are as follows:
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Series A
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Series PA & PC
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Series PB
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Discount Rate
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1.58
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%
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1.58
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%
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1.58
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%
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Volatility
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124
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%
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124
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%
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124
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%
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Expected Term
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3.75 years
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5 years
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0.63 years
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Dividend Yield
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0
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%
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0
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%
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0
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%
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The assumptions used in the February 14, 2011 fair value measurement of warrants are as follows:
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Series PA & PC
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Series PB
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Discount Rate
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2.26
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%
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2.26
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%
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Volatility
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116
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%
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116
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%
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Expected Term
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5 years
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1 year
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Dividend Yield
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0
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%
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0
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%
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10
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