2013 Q1 Form 10-K Financial Statement

#000107997313000206 Filed on March 26, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2011 Q4 2011 Q3
Revenue $45.00K $22.00K
YoY Change -50.0% -72.5%
Cost Of Revenue $0.00 $382.00
YoY Change -100.0% -99.75%
Gross Profit $44.00K $22.00K
YoY Change -320.0% -131.43%
Gross Profit Margin 97.78% 100.0%
Selling, General & Admin $1.428M $1.210M $1.406M
YoY Change 18.53% -18.24% -27.15%
% of Gross Profit 2750.0% 6390.81%
Research & Development $1.412M $1.290M $1.645M
YoY Change 108.68% -24.56% 58.17%
% of Gross Profit 2931.82% 7477.25%
Depreciation & Amortization $86.81K $120.0K $98.00K
YoY Change -22.72% -14.29% -18.33%
% of Gross Profit 272.73% 445.45%
Operating Expenses $2.840M $2.490M $3.051M
YoY Change 50.96% -21.7% 3.07%
Operating Profit -$2.821M -$2.446M -$3.011M
YoY Change 50.53% -23.56% -0.62%
Interest Expense $44.06K -$50.00K -$50.00K
YoY Change 25.0% 150.0%
% of Operating Profit
Other Income/Expense, Net $19.10K $0.00 -$52.24K
YoY Change -129.82% -100.0%
Pretax Income -$2.800M -$1.560M -$3.060M
YoY Change 44.33% -47.83% 0.33%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.802M -$1.557M -$3.064M
YoY Change 44.58% -47.93% 0.46%
Net Earnings / Revenue -3460.0% -13927.27%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.258M -$9.176M -$18.00M
COMMON SHARES
Basic Shares Outstanding 9.954M
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.300M $4.000M $4.800M
YoY Change 389.47% -66.1% -66.2%
Cash & Equivalents $2.492M $2.968M $2.401M
Short-Term Investments $6.800M $1.000M $2.400M
Other Short-Term Assets $300.0K $300.0K $500.0K
YoY Change 50.0% -25.0% 400.0%
Inventory $0.00
Prepaid Expenses
Receivables $35.02K $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.554M $4.321M $5.300M
YoY Change 354.97% -64.87% -63.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.429M $2.795M $2.900M
YoY Change -10.04% -9.83% -9.38%
Goodwill $387.2K $387.2K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.611M $1.612M $0.00
YoY Change
Total Long-Term Assets $4.040M $4.407M $4.700M
YoY Change -6.05% -10.07% -4.08%
TOTAL ASSETS
Total Short-Term Assets $9.554M $4.321M $5.300M
Total Long-Term Assets $4.040M $4.407M $4.700M
Total Assets $13.59M $8.728M $10.00M
YoY Change 112.41% -49.26% -48.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $704.8K $581.7K $1.500M
YoY Change 40.96% -47.12% 50.0%
Accrued Expenses $452.7K $368.4K $1.300M
YoY Change 126.37% -38.6% 116.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.900M $1.100M $400.0K
YoY Change 90.0% 266.67% 300.0%
Total Short-Term Liabilities $3.220M $2.072M $3.300M
YoY Change 89.39% -23.26% 32.0%
LONG-TERM LIABILITIES
Long-Term Debt $700.0K $2.800M $2.500M
YoY Change -73.08% 12.0% -3.85%
Other Long-Term Liabilities $1.300M $0.00 $600.0K
YoY Change -100.0% -14.29%
Total Long-Term Liabilities $2.000M $2.800M $3.100M
YoY Change -23.08% -9.68% -6.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.220M $2.072M $3.300M
Total Long-Term Liabilities $2.000M $2.800M $3.100M
Total Liabilities $5.221M $4.902M $6.400M
YoY Change 21.42% -16.92% 12.28%
SHAREHOLDERS EQUITY
Retained Earnings -$77.04M -$65.02M
YoY Change
Common Stock $85.41M $68.85M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.373M $3.826M $3.600M
YoY Change
Total Liabilities & Shareholders Equity $13.59M $8.728M $10.00M
YoY Change 112.41% -49.26% -48.45%

Cashflow Statement

Concept 2013 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income -$2.802M -$1.557M -$3.064M
YoY Change 44.58% -47.93% 0.46%
Depreciation, Depletion And Amortization $86.81K $120.0K $98.00K
YoY Change -22.72% -14.29% -18.33%
Cash From Operating Activities -$2.472M -$1.920M -$2.060M
YoY Change 42.5% -10.28% -2.83%
INVESTING ACTIVITIES
Capital Expenditures $10.84K -$60.00K -$50.00K
YoY Change 0.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$5.610M $1.390M -$1.440M
YoY Change -1375.0% -40.34% 3.6%
Cash From Investing Activities -$5.653M $1.330M -$1.490M
YoY Change -1451.6% -41.67% 2.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$361.3K 1.150M -150.0K
YoY Change 7.74% -866.67% 400.0%
NET CHANGE
Cash From Operating Activities -$2.472M -1.920M -2.060M
Cash From Investing Activities -$5.653M 1.330M -1.490M
Cash From Financing Activities -$361.3K 1.150M -150.0K
Net Change In Cash -$8.486M 560.0K -3.700M
YoY Change 413.8% -5700.0% 2.78%
FREE CASH FLOW
Cash From Operating Activities -$2.472M -$1.920M -$2.060M
Capital Expenditures $10.84K -$60.00K -$50.00K
Free Cash Flow -$2.483M -$1.860M -$2.010M
YoY Change 43.13% -10.58% -2.9%

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CY2012 us-gaap Income Tax Expense Benefit Continuing Operations
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CY2011 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
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CY2010 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
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CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2010 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2010 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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IncomeTaxReconciliationOtherAdjustments
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CY2011 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
504000 USD
CY2010 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
881000 USD
CY2012 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
121000 USD
CY2011 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
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CY2010 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
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CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-276000 USD
CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-306000 USD
CY2010 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-400000 USD
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
32212 USD
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
284543 USD
CY2010 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-419377 USD
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-35016 USD
CY2011 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-38160 USD
CY2010 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
25217 USD
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
273649 USD
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
210721 USD
CY2010 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-206737 USD
CY2012 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
405256 USD
CY2011 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-179948 USD
CY2010 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-15915 USD
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1182080 USD
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2010 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-403271 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
782165 USD
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InterestExpense
248629 USD
CY2011 us-gaap Interest Expense
InterestExpense
180509 USD
CY2010 us-gaap Interest Expense
InterestExpense
132786 USD
CY2012 us-gaap Interest Paid
InterestPaid
244737 USD
CY2011 us-gaap Interest Paid
InterestPaid
180915 USD
CY2010 us-gaap Interest Paid
InterestPaid
194533 USD
CY2012 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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CY2011 us-gaap Issuance Of Stock And Warrants For Services Or Claims
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CY2010 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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CY2012Q4 us-gaap Liabilities
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CY2011Q4 us-gaap Liabilities
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CY2012Q4 us-gaap Liabilities And Stockholders Equity
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CY2011Q4 us-gaap Liabilities And Stockholders Equity
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CY2012Q4 us-gaap Liabilities Current
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4078953 USD
CY2011Q4 us-gaap Liabilities Current
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CY2012 us-gaap License Costs
LicenseCosts
408000 USD
CY2012 us-gaap Licenses Revenue
LicensesRevenue
20571 USD
CY2011 us-gaap Licenses Revenue
LicensesRevenue
62179 USD
CY2010 us-gaap Licenses Revenue
LicensesRevenue
68394 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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483000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2290000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
72000 USD
CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
68000 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
65000 USD
CY2012Q4 us-gaap Long Term Notes Payable
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LongTermNotesPayable
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CY2012 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
102 USD
CY2011 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
1073 USD
CY2010 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
2023 USD
CY2010 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
1065 USD
CY2012Q4 us-gaap Mortgage Loans On Real Estate Periodic Payment Terms Balloon Payment Amount
MortgageLoansOnRealEstatePeriodicPaymentTermsBalloonPaymentAmount
1600000 USD
CY2012 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--> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt"> Nature of operations:</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt"> Venaxis, Inc. (the "Company" or "Venaxis") was organized on July 24, 2000, as a Colorado corporation. In December 2012, the Company&#39;s name was changed to Venaxis, Inc., from AspenBio Pharma, Inc. Venaxis&#39; business is in the development and commercialization of innovative products that address unmet diagnostic and therapeutic needs. The Company&#39;s lead product candidate, APPY1, is designed to be a novel blood-based diagnostic test that, if successfully cleared to be marketed by the United States Food and Drug Administration ("FDA"), will aid, through the test&#39;s negative predictive value, in the evaluation of low risk patients initially suspected of having acute appendicitis, thereby helping address the difficult challenge of triaging possible acute appendicitis patients in the hospital emergency department or urgent care settings.</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt"> The Company&#39;s research and development activities are currently focused primarily on a human acute appendicitis blood-based test.</div> <!--EndFragment--></div> </div>
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13814963 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-316118 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1610801 USD
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NetCashProvidedByUsedInInvestingActivities
-2923475 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5488975 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8332942 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-10706614 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-9212215 USD
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-10213801 USD
CY2010 us-gaap Net Income Loss
NetIncomeLoss
-13337719 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-1938000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-2310000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-2460000 USD
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-2504000 USD
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-2806000 USD
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
-2787000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-3064000 USD
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-1557000 USD
CY2012 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
480635 USD
CY2011 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
454830 USD
CY2010 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
293873 USD
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-250553 USD
CY2011 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
762387 USD
CY2010 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2012Q4 us-gaap Notes Payable
NotesPayable
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CY2011Q4 us-gaap Notes Payable
NotesPayable
3904226 USD
CY2012Q4 us-gaap Notes Payable Current
NotesPayableCurrent
2290292 USD
CY2011Q4 us-gaap Notes Payable Current
NotesPayableCurrent
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CY2012 us-gaap Operating Expenses
OperatingExpenses
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CY2011 us-gaap Operating Expenses
OperatingExpenses
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CY2010 us-gaap Operating Expenses
OperatingExpenses
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CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
-8961662 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
-10976188 USD
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
-13449562 USD
CY2012Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
68000000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1601894 USD
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1611652 USD
CY2012 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
112646 USD
CY2011 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
228163 USD
CY2010 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
309898 USD
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43692 USD
CY2011 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
2972256 USD
CY2010 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
5206909 USD
CY2010 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
244479 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1924 USD
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000 USD
CY2010 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
244629 USD
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
90100 USD
CY2010 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
191509 USD
CY2012 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
2991644 USD
CY2011 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
1043192 USD
CY2010 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
7628977 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
387480 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
314800 USD
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15146400 USD
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1456065 USD
CY2010 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9116529 USD
CY2012 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
2831864 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5562898 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5521130 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2484539 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2795149 USD
CY2010 us-gaap Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
1310956
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1331437 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
673900 USD
CY2010 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
236165 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3838375 USD
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5666221 USD
CY2010 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6112405 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-74233133 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-65020918 USD
CY2012 us-gaap Royalty Expense
RoyaltyExpense
20000 USD
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
41557 USD
CY2011 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
219420 USD
CY2010 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
370229 USD
CY2012Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7000 USD
CY2012Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
27000 USD
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6000 USD
CY2012Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2000 USD
CY2011Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
97000 USD
CY2011Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
55000 USD
CY2011Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
22000 USD
CY2011Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
45000 USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5184823 USD
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5575221 USD
CY2010 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7417686 USD
CY2012Q4 us-gaap Short Term Investments
ShortTermInvestments
1162904 USD
CY2011Q4 us-gaap Short Term Investments
ShortTermInvestments
1003124 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
10691000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
3825878 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
12813728 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
11247437 USD
CY2011 us-gaap Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
1341379
CY2010 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
291028 USD
CY2012 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
15146400 USD
CY2011 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
1456065 USD
CY2010 us-gaap Stock Issued During Period Value Issued For Cash
StockIssuedDuringPeriodValueIssuedForCash
9116529 USD
CY2012 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
29776 USD
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
901161 USD
CY2011 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1336177 USD
CY2010 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2363871 USD
CY2012 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--> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt"> Use of estimates:</div> <div style="DISPLAY: block; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; text-align: left; TEXT-INDENT: 0pt"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ significantly from those estimates.</div> <!--EndFragment--></div> </div>
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4996827
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1341379
CY2010 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
1310956

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