Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Summary of Significant Accounting Policies [Abstract]  
Inventories
                 
    December 31,
2012		     December 31,
2011		  

Finished goods

   $ 2,143,176     $ 1,374,817  

Work in process

     145,156       145,300  

Raw materials

     862,777       240,423  
   

 

 

    

 

 

  
    $ 3,151,109     $ 1,760,540  
   

 

 

    

 

 

  
Depreciation and amortization estimated useful life
     

Furniture and equipment

   2-5 years

Leasehold improvements

   5 years (or lease term if less)

Processing equipment

   5-7 years
Stock-Based Compensation
                 

Years ended December 31,

   2012     2011  

Expected term (in years)

     4.0       4.0  

Expected volatility

     117.2 %      90.9 % 

Risk free rate

     0.61 %      1.27 % 

Expected dividends

     0.0 %      0.0 % 
Summary of basic loss attributable to common shareholders
                 
    Years Ended December 31,  
    2012     2011  

Net loss

   $ (9,417,958 )    $ (9,219,220 ) 

Less preferred dividends

     (— )      (1,028,351 ) 

Net loss attributable to common stockholders

   $ (9,417,958 )    $ (10,247,571 )