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