Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2012
Summary of Significant Accounting Policies [Abstract]  
Inventories

Inventories are comprised of implantable tissue, nerve grafts, 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:

 

                 
    September 30,
2012		     December 31,
2011		  
    (unaudited)        

Finished goods

   $ 1,886,778     $ 1,374,817  

Work in process

     142,777       145,300  

Raw materials

     693,115       240,423  
   

 

 

    

 

 

  
    $ 2,722,670     $ 1,760,540  
   

 

 

    

 

 

  
Stock-Based Compensation

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

 

                 

Nine months ended September 30,

   2012     2011  

Expected term (in years)

     4.0       4.0  

Expected volatility

     118.00 %      83.42 % 

Risk free rate

     0.60 %      1.43 % 

Expected dividends

     0.0 %      0.0 %