Nature of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Intangible Assets with Finite Useful Lives, Amortized Over Estimated Useful Lives

Intangible assets with finite useful lives are amortized over the estimated useful lives as follows:


		Estimated Useful Lives
Licenses		15 years
U.S. Product rights		10-12 years
EU Product rights		11 years

Estimated Aggregate Future Amortization Expenses for Other Intangible Assets

Estimated aggregate future amortization expenses for other intangible assets for each of the next five years and thereafter are as follows:


Years ending December 31,
2014	$	970,356
2015		970,356
2016		970,356
2017		970,356
2018		970,356
Thereafter		344,718


	$	5,196,498

Reconciliation of the Numerators and Denominators of the Basic and Diluted Earnings Per Common Share Computations

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per common share computations for the years ended December 31, 2013, 2012 and 2011.


	December 31,
	2013			2012		2011
Basic:
Net (loss) income attributable to common stockholders	$	(57,393,613	)	$	1,652,181	$	(23,325,116	)
Weighted average common shares outstanding		37,941,044			30,546,581		28,322,477

Basic earnings per common share	$	(1.51	)	$	0.05	$	(0.82	)


Diluted:
Effect of dilutive securities:
Net (loss) income attributable to common stockholders		(57,393,613	)		1,652,181		(23,325,116	)
Adjustments to income for dilutive options and warrants		—			—		—

		(57,393,613	)		1,652,181		(23,325,116	)
Weighted average common shares outstanding		37,941,044			30,546,581		28,322,477
Effect of dilutive options and warrants		—			142,654		—

Diluted weighted average common shares outstanding		37,941,044			30,689,235		28,322,477

Diluted earnings per common share	$	(1.51	)	$	0.05	$	(0.82	)

Black Scholes Options-Pricing Model, Assumptions

In applying the Black Scholes options-pricing model, assumptions are as follows:


	2013	2012	2011
Expected price volatility	77.59%-81.65%	81.96%-83.69%	69.05%-77.75%
Risk-free interest rate	0.70%-1.60%	0.62%-1.02%	0.90%-1.99%
Weighted average expected life in years	5-6 years	5-6 years	5-6 years
Dividend yield	—	—	—