Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Income (Loss) from Continuing Operations before Income Tax, Domestic and Foreign

Income (loss) from continuing operations consists of the following:


	For the Year Ended December 31,
	2013			2012			2011
US operations	$	(13,505,266	)	$	(14,317,608	)	$	(1,775,053	)
Foreign operations		(6,624,018	)		(8,097,032	)		(3,454,672	)

	$	(20,129,284	)	$	(22,414,640	)	$	(5,229,725	)

Schedule of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) were comprised of the following as of the periods presented below:


	As of December 31,
	2013			2012			2011
Deferred tax assets:
Operating loss carryforwards	$	44,120,000		$	37,642,000		$	28,972,000
Accrued expenses		8,861,000			8,576,000			7,778,000
Tax credit carryforwards		3,186,000			2,921,000			2,537,000
Intellectual property		4,846,000			3,377,000			1,604,000
Outside tax basis difference in affiliate		2,825,000			1,616,000			1,378,000
Equipment		388,000			237,000			156,000
Other		—			4,000			4,000

Total deferred tax assets		64,226,000			54,373,000			42,429,000
Deferred tax liabilities		—			—			—
Net deferred tax asset		64,226,000			54,373,000			42,429,000
Valuation allowance		(64,226,000	)		(54,373,000	)		(42,429,000	)

	$	—		$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to the pretax loss from continuing operations as a result of the following differences:


	For the Year Ended December 31,
	2013			2012			2011
Tax at the U.S. statutory rate	$	(6,810,000	)	$	(7,621,000	)	$	(1,778,000	)
Change in value of warrant liability		(974,000	)		(2,619,000	)		(6,739,000	)
Stock option expenses		—			—			(140,000	)
Valuation allowance		7,723,000			10,204,000			8,639,000
Other		61,000			36,000			18,000

	$	—		$	—		$	—

Summary of Unrecognized Tax Benefits and the Associated Interest and Penalties

The following presents a roll-forward of the unrecognized tax benefits and the associated interest and penalties:


	Unrecognized Tax Benefits		Interest and Penalties
Balance at January 1, 2012	$	407,000	$	—

Prior year tax position		—		—
Current year tax position		—		—
Deferred tax position		30,000		—
Settlements with tax authorities		—		—
Expiration of the statute of limitations		—		—

Balance at December 31, 2012		437,000		—

Prior year tax position		—		—
Current year tax position		—		—
Deferred tax position		8,000		—
Settlements with tax authorities		—		—
Expiration of the statute of limitations		—		—

Balance at December 31, 2013	$	445,000	$	—