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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

Federal

 

$

 

$

 

State

 

 

5,726

 

 

 

Foreign

 

 

(27,179

)

 

27,247

 

 

 

 

 

 

 

 

 

Total Current

 

$

(21,453

)

$

27,247

 

 

 

 

 

 

 

 

 

Deferred:

 

 

 

 

 

 

 

Federal

 

$

 

$

 

State

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Deferred

 

$

 

$

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

$

(21,453

)

$

27,247

 

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Provision for income taxes at federal statutory rate

 

$

(2,787,359

)

$

(4,460,063

)

Federal research and development tax credits

 

 

(94,794

)

 

(160,003

)

Expenses not deductible, income not taxable

 

 

(473,203

)

 

(2,705,607

)

Foreign loss taxed at lower rates

 

 

164,828

 

 

232,280

 

Change in federal valuation allowance

 

 

3,169,075

 

 

7,120,640

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

$

(21,453

)

$

27,247

 

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

 

 

December 31,

 

December 31,

 

 

 

2012

 

2011

 

Deferred tax assets:

 

 

 

 

 

 

 

Net operating loss carry-forwards

 

$

25,034,778

 

$

21,588,554

 

Capitalized start-up cost and research and development cost

 

 

607,983

 

 

891,708

 

Research and development tax credit

 

 

1,389,625

 

 

1,239,795

 

Depreciation on property and equipment

 

 

(156,361)

 

 

(366,292)

 

Stock-based compensation

 

 

405,742

 

 

677,381

 

Reserves and accruals

 

 

719,909

 

 

666,336

 

 

 

 

 

 

 

 

 

Total deferred tax asset

 

 

28,001,676

 

 

24,697,482

 

 

 

 

 

 

 

 

 

Valuation allowance

 

 

(28,001,676)

 

 

(24,697,482)

 

 

 

 

 

 

 

 

 

Net deferred tax assets

 

$

 

$

 

Schedule Of Deferred Income Tax [Table Text Block]

 

 

Year Ended December 31,

 

 

 

2012

 

2011

 

Deferred tax assets:

 

 

 

 

 

 

 

Net operating loss carry-forwards

 

$

3,446,224

 

$

6,635,471

 

Capitalized start-up cost and research and development cost

 

 

(283,725

)

 

127,807

 

Research and development tax credit

 

 

149,830

 

 

(274,775

)

Depreciation on property and equipment

 

 

209,931

 

 

(476,501

)

Stock-based compensation

 

 

(271,639

)

 

677,381

 

Reserves and accruals

 

 

53,573

 

 

519,602

 

Valuation allowance

 

 

(3,304,194

)

 

(7,208,985

)

 

 

 

 

 

 

 

 

Net deferred income taxes

 

$

 

$

 

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

 

 

Year Ended December31,

 

 

 

 

2012

 

 

2011

 

Beginning Balance

 

$

645,000

 

$

 

Additions based on tax positions related to prior years

 

 

 

 

497,000

 

Additions based on tax positions related to the current year

 

 

76,000

 

 

148,000

 

Ending Balance

 

$

721,000

 

$

645,000