Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2013
Accounting Policies [Abstract]  
Inventories

Inventories are comprised of implantable tissue, Avance® Nerve Graft, AxoGuard® Nerve Connector, AxoGuard® Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:

 

     June 30,
2013
     December 31,
2012
 
     (unaudited)         

Finished goods

   $ 2,405,237       $ 2,143,176   

Work in process

     198,030         145,156   

Raw materials

     972,512         862,777   
  

 

 

    

 

 

 
   $ 3,575,779       $ 3,151,109   
  

 

 

    

 

 

 
Share-Based Compensation

The Company used the following weighted-average assumptions for options granted during the six months ended June 30:

 

Six months ended June 30,

   2013     2012  

Expected term (in years)

     4.0        4.0   

Expected volatility

     84.10     118.11 %

Risk free rate

     0.60     0.63 %

Expected dividends

     0.0 %     0.0 %