Income Taxes (Table)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Reconciliation of Federal statutory income tax rate

Reconciliation of the Federal statutory income tax rate of 34% to the effective rate is as follows:

	Year Ended December 31,
	2012			2011			2010
Federal statutory income tax rate		34.00	%		34.00	%		34.00	%
State taxes, net of federal benefit		3.45			3.45			3.45
Permanent differences-derivative loss (gain)		110.51			7.02			1.42
Permanent differences-other		44.12			(2.76	)		(3.79	)
Research and development (“R&D”) credit		(129.12	)		2.92			5.22
Other		(30.89	)		(6.63	)		(2.79	)
Valuation allowance		(24.82	)		(38.00	)		(37.51	)
		7.25	%		0.00	%		0.00	%

Significant components of deferred tax assets and liabilities

The tax effects of temporary differences and net operating losses that give rise to significant components of deferred tax assets and liabilities consist of the following:

	December 31,
Deferred tax assets (liabilities)	2012			2011
Deferred revenue	$	4,010,493		$	5,291,485
Basis difference in equipment		(926,735	)		(1,008,114	)
Basis difference in intangibles		(618,403	)		(1,090,516	)
Accrued liabilities and other		263,364			686,809
Loss on extinguishment		—			—
R&D credit		8,720,314			5,591,029
Stock options		1,557,756			1,606,254
Derivative		—			—
Net operating loss carry-forward (NOL)		16,575,544			19,055,559
		29,582,333			30,132,506
Less: valuation allowance		(29,582,333	)		(30,132,506	)
	$	—		$	—