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Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2014
Significant Accounting Policies [Line Items]  
Schedule of ResponseDX Accounts Receivable
ResponseDX® accounts receivable as of December 31, 2013 and September 30, 2014, consisted of the following:
 
 
 
December 31,
 
September 30,
 
 
 
2013
 
2014
 
 
 
 
 
(Unaudited)
 
Net Medicare receivable
 
$
2,422,611
 
$
2,377,560
 
Net Private Payor receivable
 
 
4,315,587
 
 
5,946,423
 
 
 
 
6,738,198
 
 
8,323,983
 
Allowance for doubtful accounts
 
 
(2,404,659)
 
 
(2,204,177)
 
Total
 
$
4,333,539
 
$
6,119,806
 
Schedule of Estimated Useful Lives of Property and Equipment
The Company has determined the estimated useful lives of its property and equipment, as follows:
 
Laboratory equipment
 
5 to 7 years
 
Furniture and equipment
 
3 to 7 years
 
Leasehold improvements
 
Shorter of the useful life (5 to 7 years) or the lease term
 
Schedule of Revenue Sources that Account for Greater than 10 Percent of Total Revenue
Revenue sources that account for greater than 10 percent of total revenue are provided below.
 
 
 
Three Months Ended September 30,
 
 
Nine Months Ended September 30,
 
 
 
2013
 
 
2014
 
 
2013
 
 
2014
 
 
 
(Unaudited)
 
 
(Unaudited)
 
 
 
 
 
Percent
 
 
 
 
Percent
 
 
 
 
Percent
 
 
 
 
Percent
 
 
 
 
 
of Total
 
 
 
 
of Total
 
 
 
 
of Total
 
 
 
 
of Total
 
 
 
Revenue
 
Revenue
 
 
Revenue
 
Revenue
 
 
Revenue
 
Revenue
 
 
Revenue
 
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GlaxoSmithKline entities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GlaxoSmithKline, LLC
 
$
76,792
 
*
%
 
$
165,169
 
*
%
 
$
579,606
 
*
%
 
$
165,169
 
*
%
GlaxoSmithKline Biologicals S.A.
 
 
633,543
 
16
 
 
 
296,250
 
*
 
 
 
3,166,288
 
21
 
 
 
1,017,406
 
*
 
Total GlaxoSmithKline entities
 
$
710,335
 
17
 
 
$
461,419
 
10
 
 
$
3,745,894
 
25
%
 
$
1,182,575
 
*
 
Medicare, net of contractual allowances
 
$
956,716
 
23
%
 
$
857,786
 
19
%
 
$
3,379,405
 
23
%
 
$
3,378,203
 
27
%
 
* Represents less than 10% of revenue.
Sales Revenue, Net [Member]
 
Significant Accounting Policies [Line Items]  
Schedule of Revenue by Major Customers by Reporting Segments
The following details ResponseDX® revenue for the periods indicated:
 
 
 
Three Months
 
Nine Months
 
 
 
Ended September 30,
 
Ended September 30,
 
 
 
(Unaudited)
 
(Unaudited)
 
 
 
2013
 
2014
 
2013
 
2014
 
 
 
 
 
 
 
 
 
 
 
Net Medicare revenue
 
$
956,716
 
$
857,786
 
$
3,379,405
 
$
3,378,203
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Private Payor revenue
 
 
1,584,796
 
 
3,059,799
 
 
5,450,682
 
 
7,538,888
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net ResponseDX® revenue
 
$
2,541,512
 
$
3,917,585
 
$
8,830,087
 
$
10,917,091
 
Accounts Receivable [Member]
 
Significant Accounting Policies [Line Items]  
Schedule of Revenue by Major Customers by Reporting Segments
Customers that account for greater than 10 percent of gross accounts receivable are provided below.
 
 
 
As of December 31, 2013
 
 
As of September 30, 2014
 
 
 
 
 
 
 
 
 
 
(Unaudited)
 
 
 
 
 
Percent of
 
 
 
 
Percent of
 
 
 
Receivable
 
Total
 
 
Receivable
 
Total
 
 
 
Balance
 
Receivables
 
 
Balance
 
Receivables
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GlaxoSmithKline entities:
 
 
 
 
 
 
 
 
GlaxoSmithKline LLC
 
$
597,937
 
 
*
%
 
$
145,654
 
 
*
%
GlaxoSmithKline Biologicals S.A.
 
$
544,298
 
 
*
%
 
$
470,957
 
 
*
%
Total GlaxoSmithKline entities
 
$
1,142,235
 
 
13
%
 
$
616,611
 
 
*
%
Medicare, net of contractual allowances
 
$
2,422,611
 
 
28
%
 
$
2,377,560
 
 
26
%
 
* Represents less than 10% of accounts receivable.