Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Assumptions Used in Estimation of Initial Fair Value of Warrants

The initial fair value of warrants earned in 2013 and 2012 was estimated using the Black-Scholes option pricing model with the following assumptions:

	January 2013			July 2012
Assumed risk-free interest rate		1.86	%		1.43	%
Assumed volatility		80	%		80	%
Expected warrant life		9.5 Years			10 Years
Expected dividend yield		0.0	%		0.0	%

Schedule of Aggregate Advances under the Loan and Security Agreement

The aggregate advances under the loan and security agreement and unamortized discount as of December 31, 2013 and 2012 are as follows:

	December 31, 2013			December 31, 2012
Aggregate advances under loan and security agreement	$	3,000,000		$	1,000,000
Less unamortized discount		(45,947	)		(20,208	)
Long-term debt, net of debt discount		2,954,053			979,792
Current portion of unamortized discount		23,260			—
Current portion of long-term debt		(1,465,852	)		—
Long-term debt, net of current portion	$	1,511,461		$	979,792

Schedule of Maturities of Long-Term Debt

Maturities of long-term debt as of December 31, 2013, are as follows:

	2014	$	1,572,285
	2015		1,572,285
Total minimum payments			3,144,570
Less amount representing interest			(144,570	)
Total outstanding debt			3,000,000
Less current portion			(1,465,852	)
Long-term portion		$	1,534,148