INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

INCOME TAXES

Schedule of reconciliation of income tax expense at the statutory rate to income tax expense at Entity's effective tax rate

	2012			2011			2010
Tax Expense Computed at 34% of Pretax Income	$	(18,367,000	)	$	(7,291,000	)	$	(912,000	)
Effect of Permanent Differences Principally Related to Non-taxable government grants		—			—			(83,000	)
State Income Taxes		—			2,005			—
Effect of Change in Valuation Allowance		(18,367,000	)		(7,291,000	)		(995,000	)
Total Income Tax Expense	$	-0-		$	2,005		$	-0-

Schedule of details of the net deferred tax asset

	December 31,
	2012			2011
Deferred tax assets:
Net Operating Loss Carryforward	$	33,016,000		$	16,728,000
Stock Based Compensation		5,398,000			3,467,000
Accrued Expenses		274,000			78,000
Inventories		66,000			66,000
Prepaid Expenses		51,000			—
Accounts Receivable		9,000			10,000
Subtotal		38,814,000			20,349,000
Deferred Tax Liabilities:
Tax over Book Depreciation		276,000			323,000
Goodwill & Intangible Assets		272,000			297,000
Prepaid Expenses		—			3,000
Subtotal		548,000			623,000
Subtotal		38,266,000			19,726,000
Valuation Allowance		(38,266,000	)		(19,726,000	)
Net Deferred Tax Asset	$	-0-		$	-0-