Axogen, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

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:


	March 31, 2013		December 31, 2012
	(unaudited)
Finished goods	$	2,246,213	$	2,143,176
Work in process		149,561		145,156
Raw materials		1,024,479		862,777

	$	3,420,253	$	3,151,109

Inventories are comprised of implantable tissue, nerve grafts, 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:


	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

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets as follows:


Furniture and equipment		2-5 years
Leasehold improvements		5 years (or lease term if less)
Processing equipment		5-7 years

Stock-Based Compensation

The Company used the following weighted-average assumptions for options granted during the three months ended March 31:


Three months ended March 31,	2013			2012
Expected term (in years)		4.0			4.0
Expected volatility		84.90	%		118.17	%
Risk free rate		0.56	%		0.62	%
Expected dividends		0.0	%		0.0	%

The Company used the following weighted-average assumptions for options granted during the year ended December 31:


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

The basic loss attributable to common stockholders was computed as follows:


	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	)