Quarterly report pursuant to Section 13 or 15(d)

Description of Business, Acquisitions, Public Offerings and Reverse Stock Splits (Tables)

v2.4.0.8
Description of Business, Acquisitions, Public Offerings and Reverse Stock Splits (Tables)
 9 Months Ended
Sep. 30, 2014
Business Acquisition [Line Items]  
Business acquisition, pro forma information
The following table provides certain pro forma financial information for the Company as if the acquisitions discussed above occurred on January 1, 2013:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Revenue
$
3,493,345

 
$
3,864,163

 
$
10,329,910

 
$
12,198,309

Net loss
(6,039,858
)
 
(3,836,773
)
 
(13,325,068
)
 
(10,634,909
)
 
 
 
 
 
 
 
 
Basic net loss per share
$
(0.63
)
 
$
(0.73
)
 
$
(1.40
)
 
$
(2.92
)
Dilutive net loss per share
(0.64
)
 
(0.73
)
 
(1.43
)
 
(4.04
)
Gentris [Member]
  
Business Acquisition [Line Items]  
Schedule of business acquisitions, by acquisition
The total consideration recorded for the Gentris acquisition is as follows:
 
Amount
Cash paid at closing
$
3,250,000

Issuance of 147,843 common shares
1,271,745

Estimated fair value of contingent consideration
283,000

Total Purchase Price
$
4,804,745

Schedule of recognized identified assets acquired and liabilities assumed
The preliminary allocation of the total purchase price to the fair value of the assets acquired and liabilities assumed as of July 16, 2014 are as follows:

 
Amount
Accounts receivable
$
1,869,097

Other current assets
271,085

Fixed assets
1,950,885

Goodwill
2,589,009

Current liabilities
(937,558
)
Deferred revenue, long-term
(937,773
)
Total Purchase Price
$
4,804,745

BioServe [Member]
  
Business Acquisition [Line Items]  
Schedule of business acquisitions, by acquisition
The aggregate purchase price is as follows:
 
Amount
Cash paid at closing
$
72,907

Notes payable due 12-18 months after closing
23,708

Notes payable (value of 84,278 common shares)
733,387

Issuance of 31,370 common shares
244,247

Total Purchase Price
$
1,074,249

Schedule of recognized identified assets acquired and liabilities assumed
The preliminary allocation of the total purchase price to the fair value of the assets acquired and liabilities assumed as of August 18, 2014 are as follows:
 
Amount
Accounts receivable
$
151,002

Other current assets
120,528

Fixed assets
624,948

Other assets
416,869

Goodwill
541,565

Current liabilities
(758,614
)
Other liabilities
(22,049
)
Total Purchase Price
$
1,074,249