Prepaid Expenses and Other Current Assets

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Prepaid Expenses and Other Current Assets [Text Block]

Note 7 — Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	March 31,		December 31,
	2013		2012
Prepaid insurance	$	72,636	$	61,519
Prepaid fees and rent		158,022		186,407
Deposits and advances		702,403	$	409,604
Prepaid royalties		815,624		6,250
Other Current Assets		124,101		73,665
	$	1,872,786	$	737,445

Prepaid royalties is a result of a payment made, to a holder of a security interest in patents, for the termination and release of the security interest. The prepayment will be amortized to cost of sales over the life of the patents which expire November 2019.

Note 10 — Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	December 31, 2012		December 31, 2011
Prepaid insurance	$	61,519	$	59,349
Prepaid fees and rent		192,658		28,202
Deposits and advances		409,604		563,436
Other Current Assets		73,664		44,580
	$	737,445	$	695,567

Prepaid fees and rent consist primarily of prepaid service contracts. Deposits and advances consist primarily of payments to the Company’s raw materials suppliers and Angel® centrifuge manufacturers. Other Current Assets is exclusively made up of parts used to refurbish the Angel® centrifuges.