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, 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:

 

     September 30,
2013		      December 31,
2012		  
     (unaudited)         

Finished goods

    $ 2,398,038       $ 2,143,176   

Work in process

      192,260         145,156   

Raw materials

      869,766         862,777   
  

 

 

     

 

 

  
   $ 3,460,064       $ 3,151,109   
  

 

 

     

 

 

  
Share-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,

    2013     2012  

Expected term (in years)

      4.0        4.0   

Expected volatility

      83.27 %      118.00 % 

Risk free rate

      0.71 %      0.60 % 

Expected dividends

      0.0 %     0.0 %