Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities as of December 31, 2012 and 2011, consisted of the following:

	2012			2011
Deferred tax assets:
Depreciation and amortization	$	6,497		$	6,865
R&E tax credit carry-forwards		11,843			11,966
NYS investment tax credit carry-forwards		1,084			1,088
AMT credit carry-forwards		211			211
Net operating loss carry-forwards		112,966			85,110
Capitalized research and development expenditures		30,884			43,113
Stock compensation		14,436			13,789
Other items		2,193			3,600
Total gross deferred tax assets		180,114			165,742
Less: Valuation allowance		(178,045	)		(165,742	)
Deferred tax assets		2,069			-
Deferred tax liability - current		(2,069	)		-
Net deferred tax asset (liability)	$	-		$	-

Schedule of reconciliation of income taxes

The following is a reconciliation of income taxes computed at the Federal statutory income tax rate to the actual effective income tax provision during 2012, 2011 and 2010:

	2012	2011	2010

U.S. Federal statutory rate	(35.0)%	35.0%	(34.0)%
State income taxes, net of Federal benefit	(5.4)	8.0	(5.1)
Research and experimental tax credit	-	(4.1)	(1.7)
Change in valuation allowance	34.7	(22.6)	38.2
Effect of federal tax rate bracket change on valuation allowance	-	(34.8)	-
Equity compensation	4.2	17.0	2.3
Investment tax credit	-	(0.1)	0.1
Other	1.5	1.6	0.1
Income tax provision (benefit)	0.0%	0.0%	(0.1)%