2014 Q1 Form 10-K Financial Statement
#000120677414000818 Filed on March 10, 2014
Income Statement
Concept | 2014 Q1 | 2012 Q4 | 2012 Q3 |
---|---|---|---|
Revenue | $308.3K | $552.0K | $471.9K |
YoY Change | -56.4% | 57.73% | 124.71% |
Cost Of Revenue | $1.040M | $840.0K | $970.0K |
YoY Change | -37.72% | -4.55% | 42.65% |
Gross Profit | -$730.0K | -$290.0K | -$500.0K |
YoY Change | -23.96% | -44.23% | 6.38% |
Gross Profit Margin | -236.75% | -52.53% | -105.96% |
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | $449.8K | $430.0K | $369.4K |
YoY Change | -29.32% | 38.71% | 8.64% |
% of Gross Profit | |||
Depreciation & Amortization | $6.075K | $0.00 | $10.00K |
YoY Change | -41.14% | -100.0% | 0.0% |
% of Gross Profit | |||
Operating Expenses | $1.487M | $430.0K | $1.342M |
YoY Change | -35.47% | 38.71% | 294.61% |
Operating Profit | -$1.179M | -$612.8K | -$869.8K |
YoY Change | -27.04% | -26.55% | 7.06% |
Interest Expense | $10.00K | $10.00K | $0.00 |
YoY Change | 0.0% | 0.0% | -100.0% |
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$1.170M | -$710.0K | -$866.5K |
YoY Change | -26.42% | -13.41% | 8.31% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$1.170M | -$604.2K | -$866.5K |
YoY Change | -27.22% | -26.83% | 8.06% |
Net Earnings / Revenue | -379.44% | -109.46% | -183.62% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$50.61K | -$31.32K | -$43.48K |
COMMON SHARES | |||
Basic Shares Outstanding | 23.11M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2014 Q1 | 2012 Q4 | 2012 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $10.18M | $13.44M | $9.020M |
YoY Change | -20.9% | 267.21% | 91.1% |
Cash & Equivalents | $5.098M | $8.390M | $7.966M |
Short-Term Investments | $5.080M | $5.050M | $1.050M |
Other Short-Term Assets | $80.00K | $200.0K | $70.00K |
YoY Change | -11.11% | 17.65% | -41.67% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $860.4K | $688.3K | $570.0K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $11.12M | $14.33M | $9.660M |
YoY Change | -19.15% | 232.56% | 87.94% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $101.5K | $59.04K | $70.00K |
YoY Change | 69.23% | -26.2% | -22.22% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $33.57K | $20.00K | $20.00K |
YoY Change | 67.84% | 0.0% | 0.0% |
Total Long-Term Assets | $135.1K | $81.65K | $90.00K |
YoY Change | 50.11% | -25.78% | -25.0% |
TOTAL ASSETS | |||
Total Short-Term Assets | $11.12M | $14.33M | $9.660M |
Total Long-Term Assets | $135.1K | $81.65K | $90.00K |
Total Assets | $11.25M | $14.42M | $9.750M |
YoY Change | -18.7% | 226.13% | 85.36% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $138.4K | $72.27K | $140.0K |
YoY Change | -18.6% | -27.73% | 0.0% |
Accrued Expenses | $201.5K | $145.1K | $120.0K |
YoY Change | 11.93% | -23.62% | 20.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $396.1K | $242.4K | $340.0K |
YoY Change | -26.65% | -21.81% | 3.03% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $396.1K | $242.4K | $340.0K |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $400.0K | $240.0K | $340.0K |
YoY Change | -25.93% | -22.58% | 3.03% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$94.47M | -$87.47M | |
YoY Change | |||
Common Stock | $105.3M | $101.6M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $10.86M | $14.17M | $9.410M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $11.25M | $14.42M | $9.750M |
YoY Change | -18.7% | 226.13% | 85.36% |
Cashflow Statement
Concept | 2014 Q1 | 2012 Q4 | 2012 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.170M | -$604.2K | -$866.5K |
YoY Change | -27.22% | -26.83% | 8.06% |
Depreciation, Depletion And Amortization | $6.075K | $0.00 | $10.00K |
YoY Change | -41.14% | -100.0% | 0.0% |
Cash From Operating Activities | -$810.0K | -$850.0K | -$840.0K |
YoY Change | 44.64% | -19.05% | 3.7% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $43.25K | $0.00 | -$10.00K |
YoY Change | 288.65% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | -$4.000M | $0.00 |
YoY Change | -640.54% | ||
Cash From Investing Activities | -$40.00K | -$4.000M | -$10.00K |
YoY Change | 300.0% | -640.54% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $5.276M | $5.229M | |
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 80.00K | 5.280M | 6.970M |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -810.0K | -850.0K | -840.0K |
Cash From Investing Activities | -40.00K | -4.000M | -10.00K |
Cash From Financing Activities | 80.00K | 5.280M | 6.970M |
Net Change In Cash | -770.0K | 430.0K | 6.120M |
YoY Change | 35.09% | -238.71% | -855.56% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$810.0K | -$850.0K | -$840.0K |
Capital Expenditures | $43.25K | $0.00 | -$10.00K |
Free Cash Flow | -$853.2K | -$850.0K | -$830.0K |
YoY Change | 49.4% | -19.05% | 2.47% |
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IncreaseDecreaseInAccountsReceivable
|
260042 | USD |
CY2012 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
354268 | USD |
CY2011 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-116127 | USD |
CY2013 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-94544 | USD |
CY2012 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
107218 | USD |
CY2011 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
5037 | USD |
CY2013 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
38148 | USD |
CY2012 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
33171 | USD |
CY2012Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
5052921 | USD |
CY2013Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
5076930 | USD |
CY2011 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
29274 | USD |
CY2013 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
174320 | USD |
CY2012 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
4690 | USD |
CY2011 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
-16974 | USD |
CY2013 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2014-01-31 | |
CY2012Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
14415067 | USD |
CY2013Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
12032265 | USD |
CY2012Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
242392 | USD |
CY2013Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
162328 | USD |
CY2013 | us-gaap |
Licenses Revenue
LicensesRevenue
|
2161359 | USD |
CY2012 | us-gaap |
Licenses Revenue
LicensesRevenue
|
1957336 | USD |
CY2011 | us-gaap |
Licenses Revenue
LicensesRevenue
|
845982 | USD |
CY2013Q1 | us-gaap |
Licenses Revenue
LicensesRevenue
|
707231 | USD |
CY2013Q2 | us-gaap |
Licenses Revenue
LicensesRevenue
|
521844 | USD |
CY2013Q3 | us-gaap |
Licenses Revenue
LicensesRevenue
|
506692 | USD |
CY2013Q4 | us-gaap |
Licenses Revenue
LicensesRevenue
|
425592 | USD |
CY2012Q1 | us-gaap |
Licenses Revenue
LicensesRevenue
|
482578 | USD |
CY2012Q2 | us-gaap |
Licenses Revenue
LicensesRevenue
|
450828 | USD |
CY2012Q3 | us-gaap |
Licenses Revenue
LicensesRevenue
|
471886 | USD |
CY2012Q4 | us-gaap |
Licenses Revenue
LicensesRevenue
|
552044 | USD |
CY2013 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="text-align: justify"><font style="font-family: Times New Roman; font-size: 80%">(1)</font> <u style="font-family: Times New Roman; font-size: 80%">Business</u></p> <p style="text-align: justify"> <font style="font-family: Times New Roman; font-size: 80%">Research Frontiers Incorporated ("Research Frontiers" or the "Company") operates in a single business segment which is engaged in the development and marketing of technology and devices to control the flow of light. Such devices, often referred to as "light valves" or suspended particle devices (SPDs), use colloidal particles that are either incorporated within a liquid suspension or a film, which is usually enclosed between two sheets of glass or plastic having transparent, electrically conductive coatings on the facing surfaces thereof. At least one of the two sheets is transparent. SPD technology, made possible by a flexible light-control film invented by Research Frontiers, allows the user to instantly and precisely control the shading of glass/plastic manually or automatically. SPD technology has numerous product applications, including: SPD-Smart™ windows, sunshades, skylights and interior partitions for homes and buildings; automotive windows, sunroofs, sun-visors, sunshades, rear-view mirrors, instrument panels and navigation systems; aircraft windows; eyewear products; and flat panel displays for electronic products. SPD-Smart light control film is now being developed for, or used in, architectural, automotive, marine, aerospace and appliance applications.</font></p> <p style="font-family: Times New Roman; font-size: 80%; text-align: justify"> <font style="font-family: Times New Roman"> </font> The Company has historically utilized its cash, cash equivalents, short-term investments, and the proceeds from the sale of its investments to fund its research and development of SPD light valves, for marketing initiatives, and for other working capital purposes. The Company's working capital and capital requirements depend upon numerous factors, including the results of research and development activities, competitive and technological developments, the timing and cost of patent filings, and the development of new licensees and changes in the Company's relationships with its existing licensees. The degree of dependence of the Company's working capital requirements on each of the foregoing factors cannot be quantified; increased research and development activities and related costs would increase such requirements; the addition of new licensees may provide additional working capital or working capital requirements, and changes in relationships with existing licensees would have a favorable or negative impact depending upon the nature of such changes. There can be no assurance that expenditures will not exceed the anticipated amounts or that additional financing, if required, will be available when needed or, if available, that its terms will be favorable or acceptable to the Company. Eventual success of the Company and generation of positive cash flow will be dependent upon the commercialization of products using the Company's technology by the Company's licensees and payments of continuing royalties on account thereof. To date, the Company has not generated sufficient revenue from its licensees to fund its operations.</p> <!--EndFragment--></div> </div> | |
CY2013 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
795294 | USD |
CY2012 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
12250500 | USD |
CY2011 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
65977 | USD |
CY2013 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-74545 | USD |
CY2012 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-3584538 | USD |
CY2011 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1267573 | USD |
CY2013 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-3244859 | USD |
CY2012 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2679093 | USD |
CY2011 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-3352584 | USD |
CY2013 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5845087 | USD |
CY2012 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3063601 | USD |
CY2011 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4134068 | USD |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1589184 | USD |
CY2013Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-779480 | USD |
CY2013Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-859954 | USD |
CY2013Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2616469 | USD |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-803339 | USD |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-789551 | USD |
CY2012Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-866464 | USD |
CY2012Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-604247 | USD |
CY2013Q1 | us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
175000 | USD |
CY2012Q1 | us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
175000 | USD |
CY2013 | us-gaap |
Operating Expenses
OperatingExpenses
|
8044594 | USD |
CY2012 | us-gaap |
Operating Expenses
OperatingExpenses
|
5667505 | USD |
CY2011 | us-gaap |
Operating Expenses
OperatingExpenses
|
5009324 | USD |
CY2013 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-5883235 | USD |
CY2012 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3710169 | USD |
CY2011 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4163342 | USD |
CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1597036 | USD |
CY2013Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-790636 | USD |
CY2013Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-869483 | USD |
CY2013Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2626080 | USD |
CY2012Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1434553 | USD |
CY2012Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-793041 | USD |
CY2012Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-869788 | USD |
CY2012Q4 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-612787 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
163000 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
186000 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
180000 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
174000 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
168000 | USD |
CY2013Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
1294000 | USD |
CY2013 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
187000 | USD |
CY2012 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
200000 | USD |
CY2011 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
172000 | USD |
CY2013Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
58000000 | USD |
CY2012Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
361 | USD |
CY2013Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
359 | USD |
CY2012Q3 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
4455 | USD |
CY2012Q3 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
413719 | USD |
CY2012Q4 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
336750 | USD |
CY2013 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
50536 | USD |
CY2012 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
11576 | USD |
CY2011 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
12517 | USD |
CY2013 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
24009 | USD |
CY2012 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
3797865 | USD |
CY2011 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
2255056 | USD |
CY2012Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
201949 | USD |
CY2013Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
135080 | USD |
CY2012 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
12250500 | USD |
CY2012Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1745549 | USD |
CY2012Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5229201 | USD |
CY2012Q4 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5275750 | USD |
CY2013 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
795294 | USD |
CY2012 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
12250500 | USD |
CY2011 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
65977 | USD |
CY2013 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
USD | |
CY2012 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
USD | |
CY2011 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
1000000 | USD |
CY2013 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
822969 | USD |
CY2013 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
472819 | USD |
CY2011 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
26233 | USD |
CY2012 | us-gaap |
Professional Fees
ProfessionalFees
|
61340 | USD |
CY2012Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1739086 | USD |
CY2013Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1789622 | USD |
CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
59041 | USD |
CY2013Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
64365 | USD |
CY2013 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
USD | |
CY2012 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
224903 | USD |
CY2011 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
USD | |
CY2013 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
81198 | USD |
CY2012 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
USD | |
CY2011 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
USD | |
CY2013 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2203326 | USD |
CY2012 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1671872 | USD |
CY2011 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1390689 | USD |
CY2012Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-87471887 | USD |
CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-93316974 | USD |
CY2013 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2719380 | USD |
CY2012 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
878578 | USD |
CY2011 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
702837 | USD |
CY2013 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2013 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.64 | pure |
CY2013 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0162 | pure |
CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
750000 | shares |
CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
611692 | shares |
CY2013 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.86 | |
CY2013 | us-gaap |
Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
|
pure | |
CY2012Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.97 | |
CY2012Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.97 | |
CY2012Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
4.49 | |
CY2011Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4107198 | USD |
CY2012Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14172675 | USD |
CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11869937 | USD |
CY2010Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7472452 | USD |
CY2013 | us-gaap |
Stock Issued1
StockIssued1
|
27675 | USD |
CY2012 | us-gaap |
Stock Issued1
StockIssued1
|
USD | |
CY2011 | us-gaap |
Stock Issued1
StockIssued1
|
276750 | USD |
CY2012 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3739227 | shares |
CY2012Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
589227 | shares |
CY2012Q3 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1900000 | shares |
CY2012Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1250000 | shares |
CY2012 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
12250500 | USD |
CY2013 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
2719380 | USD |
CY2012 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
878578 | USD |
CY2011 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
702837 | USD |
CY2013 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
822969 | USD |
CY2011 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
65977 | USD |
CY2013Q4 | us-gaap |
Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
|
972000 | USD |
CY2013 | us-gaap |
Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
|
2033-12-31 | |
CY2013 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="text-align: justify"><font style="font-family: Times New Roman; font-size: 80%"><font style="font-family: Times New Roman"> </font> (i)</font> <u style="font-family: Times New Roman; font-size: 80%">Use of Estimates</u></p> <p style="font-family: Times New Roman; font-size: 80%; text-align: justify"> <font style="font-family: Times New Roman"> </font> The preparation of the Company's consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during this period. Actual results could differ from those estimates.</p> <!--EndFragment--></div> </div> | |
CY2013 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
22946019 | shares |
CY2012 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
20125309 | shares |
CY2011 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
18538041 | shares |