Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2013
Income Taxes [Abstract]  
Tax Expense (Benefit) By Jurisdiction

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2013

 

2012

Current:

$

 

 

$

 

Federal

 

 -

 

 

 -

State

 

 -

 

 

 -

Foreign

 

 -

 

 
(1,531)

Total

 

 -

 

 
(1,531)

 

 

 

 

 

 

Deferred:

 

 

 

 

 

Federal

 

 -

 

 

 -

State

 

 -

 

 

 -

Foreign

 

 -

 

 

 -

Total

 

 -

 

 

 -

Income tax (expense) benefit

$

 -

 

$
(1,531)

 

Effective Income Tax Amount Reconcilliation

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2013

 

2012

 

 

 

 

 

 

Computed "expected" tax benefit

$
(2,370,485)

 

$
(2,052,604)

Loss from equity-method investment

 
75,720 

 

 
154,093 

State taxes, net of federal benefit

 

 -

 

 
(213,558)

Tax effect of change in valuation allowance

 
(245,534)

 

 
2,836,371 

Tax effect of losses and rates in non-US jurisdictions

 
2,592,762 

 

 
20,221 

Tax effect of other permanent items

 
13,026 

 

 
(744,523)

Other

 
(65,489)

 

 
1,531 

 

 

 

 

 

 

Total

$

 -

 

$
1,531 

 

Income (Loss) Before Income Tax By Jurisdiction

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2013

 

2012

 

 

 

 

 

Domestic

$
(6,891,170)

 

$
(5,893,648)

Foreign

 
(74,188)

 

 
(143,423)

 

 

 

 

 

 

Total

$
(6,965,358)

 

$
(6,037,071)

 

Schedule Of Deferred Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2013

 

2012

Deferred tax assets:

 

 

 

 

 

Net operating loss carryforwards

$
18,735,824 

 

$
16,864,117 

Amortization

 

 -

 

 
(133)

Depreciation of fixed assets

 
53,178 

 

 

 -

Deferred income and reserves

 
2,853,995 

 

 
(177,731)

Stock-based compensation expense

 
9,680,970 

 

 
9,450,504 

Differences related to stock basis in equity investment

 
421,203 

 

 
336,664 

Other

 
292,020 

 

 

 -

Less: valuation allowance

 
(32,236,042)

 

 
(29,607,423)

Total deferred tax assets

 
(198,851)

 

 
(3,134,003)

 

 

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

Acquired intangibles

 
(25,000)

 

 
(25,000)

Depreciation of fixed assets

 
205,211 

 

 
(26,019)

Amortization of Intangibles

 
0 

 

 
3,166,382 

Foreign exchange gain/loss

 
(6,360)

 

 
(6,360)

Total deferred tax liabilities

 
173,851 

 

 
3,109,003 

 

 

 

 

 

 

Net deferred tax liabilities

$
(25,000)

 

$
(25,000)

 

Schedule Of Change In Deferred Tax Assets Valuation Allowance

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2013

 

2012

 

 

 

 

 

 

Balance at the beginning of year

$
29,607,423 

 

$
23,209,679 

Increase related to net operating loss and costs and expenses

 

 

 

 

 

incurred in the current year

 
2,588,839 

 

 
6,154,285 

Change related to prior year true-ups

 
66,157 

 

 
346,442 

Effect of foreign exchange rate differences

 
(26,376)

 

 
(102,983)

 

 

 

 

 

 

Balance at end of year

$
32,236,042 

 

$
29,607,423