Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign (Loss) income, Before Income Taxes

(Loss) income before income taxes consists of the following:

	Year Ended December 31,
	2013			2012		2011
Domestic	$	(4,090,619	)	$	3,462,225	$	15,356,922
Foreign		10,816,957			6,457,755		5,209,552
Income before income taxes	$	6,726,338		$	9,919,980	$	20,566,474

Components of the Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes are as follows:

	Year Ended December 31,
	2013			2012		2011
Current:
Federal	$	(19,812	)	$	—	$	—
State		(1,872	)		2,707		39,282
Foreign		—			—		—
Total current		(21,684	)		2,707		39,282
Deferred:
Federal		—			—		—
State		—			—		—
Foreign		44,248			—		—
Total deferred		44,248			—		—
Provision for income taxes	$	22,564		$	2,707	$	39,282

Reconciliation of the Federal Statutory Rate to Effective Tax Rate

The reconciliation of the federal statutory rate to Columbia’s effective tax rate is as follows:

	2013			2012			2011
Federal income tax rate		34.0	%		34.0	%		34.0	%
Foreign rate differential		(53.9	)%		(22.1	)%		(8.6	)%
State tax, net of federal benefit		17.8			0.2			1.4
Permanent Items:
Change in fair value of redeemable warrants		—			—			4.5
Change in fair market value of stock warrants		(4.0	)		(24.0	)		(0.9	)
Incentive stock options		—			—			(2.6	)
Subpart F inclusion		8.9			—			—
Acquisition costs capitalized		3.3			—			—
Amortization of technical rights		(5.2	)		(3.5	)		(1.7	)
Deferred adjustments		(6.0	)		—			—
Other		1.1			3.9			1.0
Effect of permanent differences		(1.9	)		(23.6	)		0.3
Rate Change		(9.3	)		(19.9	)		—
Effective income tax rate		(13.3	)		(31.4	)		27.1
Change in valuation allowance		13.6			31.4			(26.9	)
Effective income tax rate		0.3	%		0.0	%		0.2	%

Components of Net Deferred Tax Assets and Liabilities

The components of Columbia’s net deferred tax assets and liabilities are as follows:

	December 31,
	2013			2012
Share Based awards compensation	$	1,127,692		$	1,033,720
Allowance for returns		56,080			215,143
Inventory reserve		8,930			27,218
Book accumulated depreciation net of tax		(1,655,073	)		(10,471	)
Other deferred revenue		447,670			37,463
Patents		1,334,999			1,260,191
Federal net operating loss		54,571,823			52,679,076
State net operating loss		4,321,666			4,911,560
Foreign losses		2,269,322			—
Unused R&D credit		1,740,567			1,957,337
Write-up of intangibles		(589,018	)		—
Other		113,623			149,924
Net deferred tax assets		63,748,281			62,261,161
Less: valuation allowance:
Federal		(63,178,248	)		(62,261,161	)
Deferred tax asset	$	570,033		$	—