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Trade Receivables Trade Receivables
12 Months Ended
Dec. 31, 2013
Receivables [Abstract]  
Trade Receivables
TRADE RECEIVABLES
Trade receivables consist of amounts generated from product sales and government contracts. Accounts receivable totaled $458,076 and $100,164 as of December 31, 2013 and 2012, respectively. Product revenue for the year ended December 31, 2013 includes $289,000 of sales to one major customer, representing 26% of total product revenue. Receivables from this major customer were $253,000 at December 31, 2013.
Provisional Indirect Cost Rates - The Company bills the government under cost-based research and development contracts at provisional billing rates which permit the recovery of indirect costs. These rates are subject to audit on an annual basis by the government agencies’ cognizant audit agency. The cost audit may result in the negotiation and determination of the final indirect cost rates. In the opinion of management, re-determination of any cost-based contracts will not have a material effect on the Company’s financial position or results of operations.