<SEC-DOCUMENT>0001558370-15-002338.txt : 20151109
<SEC-HEADER>0001558370-15-002338.hdr.sgml : 20151109
<ACCEPTANCE-DATETIME>20151105160702
ACCESSION NUMBER:		0001558370-15-002338
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20150930
FILED AS OF DATE:		20151105
DATE AS OF CHANGE:		20151105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AxoGen, Inc.
		CENTRAL INDEX KEY:			0000805928
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				411301878
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36046
		FILM NUMBER:		151200644

	BUSINESS ADDRESS:	
		STREET 1:		13859 PROGRESS BLVD.
		STREET 2:		SUITE 100
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615
		BUSINESS PHONE:		(386) 462-6817

	MAIL ADDRESS:	
		STREET 1:		13859 PROGRESS BLVD.
		STREET 2:		SUITE 100
		CITY:			ALACHUA
		STATE:			FL
		ZIP:			32615

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LECTEC CORP /MN/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>axgn-20150930x10q.htm
<DESCRIPTION>10-Q
<TEXT>
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			axgn_Current_Folio_10Q
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			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

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			<font style="display:inline;font-weight:bold;font-size:16pt;">UNITED STATES</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 16pt;">
			<font style="display:inline;font-weight:bold;font-size:16pt;">SECURITIES AND EXCHANGE COMMISSION</font>
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			<font style="display:inline;font-weight:bold;font-size:9pt;">Washington, D.C. 20549</font>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 16pt;">
			<font style="display:inline;font-weight:bold;font-size:16pt;">FORM&nbsp;10-Q</font>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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			<font style="display:inline;font-weight:bold;font-size:9pt;">(Mark One)</font>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">&#x2612;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">QUARTERLY REPORT PURSUANT TO SECTION&nbsp;13 OR 15(d)&nbsp;OF THE SECURITIES EXCHANGE ACT OF 1934</font></p>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">For the quarterly period ended</font><font style="display:inline;font-weight:bold;font-size:9pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:9pt;">September</font><font style="display:inline;font-weight:bold;font-size:9pt;"> 30</font><font style="display:inline;font-weight:bold;font-size:9pt;">, 2015</font>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-weight:bold;font-size:9pt;">or</font>
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			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">&#x2610;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">TRANSITION REPORT PURSUANT TO SECTION&nbsp;13 OR 15(d)&nbsp;OF THE SECURITIES EXCHANGE ACT OF 1934</font></p>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:9pt;">For the transition period from</font><font style="display:inline;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:9pt;">____________ to______________</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-weight:bold;font-size:9pt;">Commission file number:&nbsp;&nbsp;001-36046</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 16pt;">
			<font style="display:inline;font-weight:bold;font-size:16pt;">AxoGen,&nbsp;Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">(Exact name of registrant as specified in its charter)</font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-weight:bold;font-size:9pt;text-decoration:underline;">Minnesota</font></p>
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						&nbsp;</p>
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				<td valign="top" style="width:49.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-weight:bold;font-size:9pt;text-decoration:underline;">41-1301878</font></p>
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						<font style="display:inline;font-size:9pt;">(State or other jurisdiction of</font></p>
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						&nbsp;</p>
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						<font style="display:inline;font-size:9pt;">(I.R.S. Employer</font></p>
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						<font style="display:inline;font-size:9pt;">incorporation or organization)</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Identification No.)</font></p>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-weight:bold;font-size:9pt;text-decoration:underline;">13631 Progress Blvd., Suite&nbsp;400, Alachua, FL</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
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				<td valign="top" style="width:49.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-weight:bold;font-size:9pt;text-decoration:underline;">32615</font></p>
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				<td valign="top" style="width:49.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">(Address of principal executive offices)</font></p>
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				<td valign="bottom" style="width:02.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
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				<td valign="top" style="width:49.00%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">(Zip Code)</font></p>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-weight:bold;font-size:9pt;text-decoration:underline;">386-462-6800</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">(Registrant&#x2019;s telephone number, including area code)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-weight:bold;font-size:9pt;">Not Applicable</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">(Former name, former address and former fiscal year, if changed since last report)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d)&nbsp;of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past 90 days. YES&nbsp;</font><font style="display:inline;font-size:9pt;">&#x2612;</font><font style="display:inline;font-size:9pt;">&nbsp;&nbsp;&nbsp;NO&nbsp;</font><font style="display:inline;font-size:9pt;">&#x2610;</font>
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		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule&nbsp;405 of Regulation S-T (&#xA7;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES </font><font style="display:inline;font-size:9pt;">&#x2612;</font><font style="display:inline;font-size:9pt;">&nbsp;&nbsp;NO&nbsp;&nbsp;</font><font style="display:inline;font-size:9pt;">&#x2610;</font>
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		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:20.15pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.&nbsp;&nbsp;See the definitions of &#x201C;large accelerated filer,&#x201D; &#x201C;accelerated filer&#x201D; and &#x201C;smaller reporting company&#x201D; in Rule&nbsp;12b-2 of the Exchange Act.</font>
		</p>
		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 96.26%;margin-left:0pt;">
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				<td valign="top" style="width:66.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:02.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:31.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:66.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Large accelerated filer </font><font style="display:inline;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:02.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:31.24%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Accelerated filer </font><font style="display:inline;font-size:9pt;">&#x2610;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:66.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:02.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:31.24%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:66.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Non-Accelerated filer </font><font style="display:inline;font-size:9pt;">&#x2610;</font><font style="display:inline;font-size:9pt;"> (Do not check if a smaller reporting company)</font></p>
				</td>
				<td valign="bottom" style="width:02.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:31.24%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Smaller reporting company </font><font style="display:inline;font-size:9pt;">&#x2612;</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">Indicate by check mark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act). YES&nbsp;</font><font style="display:inline;font-size:9pt;">&#x2610;</font><font style="display:inline;font-size:9pt;">&nbsp;&nbsp;NO&nbsp;</font><font style="display:inline;font-size:9pt;">&#x2612;</font>
		</p>
		<p style="margin:0pt;text-indent:20pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">As of </font><font style="display:inline;font-size:9pt;">November 4</font><font style="display:inline;font-size:9pt;">,</font><font style="display:inline;font-size:9pt;"> 2015</font><font style="display:inline;font-size:9pt;"> the registrant had </font><font style="display:inline;font-size:9pt;">2</font><font style="display:inline;font-size:9pt;">9,885,688</font><font style="display:inline;font-size:9pt;"> shares of common stock outstanding.</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 6pt;">
			<font style="display:inline;font-size:6pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-bottom:3pt double #000000 ;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt;line-height:12pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;line-height:12pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">Table </font><a name="TOC"></a><font style="display:inline;font-weight:bold;font-size:10pt;">of</font><font style="display:inline;font-weight:bold;font-size:10pt;"> Contents</font>
		</p>
		<p style="margin:0pt;line-height:12pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:12.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:82.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:05.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="3" valign="top" style="border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:100.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Part I - Financial Information</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1CONDENSEDCONSOLIDATEDFINANCIALSTATE"><font style="display:inline;font-size:10pt;">Item 1.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1CONDENSEDCONSOLIDATEDFINANCIALSTATE"><font style="display:inline;font-size:10pt;">Financial Statements</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						2<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM2MANAGEMENTSDISCUSSION_688259"><font style="display:inline;font-size:10pt;">Item 2.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM2MANAGEMENTSDISCUSSION_688259"><font style="display:inline;font-size:10pt;">Management's Discussion and Analysis of Financial Condition and Results of Operations</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						15<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM3QUANTITATIVE_149360"><font style="display:inline;font-size:10pt;">Item 3.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM3QUANTITATIVE_149360"><font style="display:inline;font-size:10pt;">Quantitative and Qualitative Disclosures About Market Risk</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						21<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM4CONTROLSANDPROCEDURES_627538"><font style="display:inline;font-size:10pt;">Item 4.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM4CONTROLSANDPROCEDURES_627538"><font style="display:inline;font-size:10pt;">Controls and Procedures</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						21<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="3" valign="top" style="border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:100.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Part II - Other Information</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1LegalProceedings_746668"><font style="display:inline;font-size:10pt;">Item 1.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1LegalProceedings_746668"><font style="display:inline;font-size:10pt;">Legal Proceedings</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1ARISKFACTORS_405544"><font style="display:inline;font-size:10pt;">Item 1A.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM1ARISKFACTORS_405544"><font style="display:inline;font-size:10pt;">Risk Factors</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM2UNREGISTEREDSALESOFEQUITY_73950"><font style="display:inline;font-size:10pt;">Item 2.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM2UNREGISTEREDSALESOFEQUITY_73950"><font style="display:inline;font-size:10pt;">Unregistered Sales of Equity Securities and Use of Proceeds</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM3DEFAULTSUPONSENIORSECURITIES_621635"><font style="display:inline;font-size:10pt;">Item 3.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM3DEFAULTSUPONSENIORSECURITIES_621635"><font style="display:inline;font-size:10pt;">Defaults Upon Senior Securities</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM4MINESAFETYDISCLOSURES_174823"><font style="display:inline;font-size:10pt;">Item 4.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM4MINESAFETYDISCLOSURES_174823"><font style="display:inline;font-size:10pt;">Mine Safety Disclosures</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM5OTHERINFORMATION_772080"><font style="display:inline;font-size:10pt;">Item 5.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM5OTHERINFORMATION_772080"><font style="display:inline;font-size:10pt;">Other Information</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						22<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM6EXHIBITS_283273"><font style="display:inline;font-size:10pt;">Item 6.</font></a><font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#ITEM6EXHIBITS_283273"><font style="display:inline;font-size:10pt;">Exhibits</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						23<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:12.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:82.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;font-family:Times New Roman;font-size: 10pt;">
						<a href="#SIGNATURES_969038"><font style="display:inline;font-size:10pt;">Signature Page</font></a></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:05.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						24<font style="display:inline;font-size:10pt;"></font></p>
				</td>
			</tr>
		</table></div>
		<hr style="border-width:0;width:100%;height:1.5pt;color:#000;background-color:#000;" align="center"></hr>
		<p style="margin:0pt -18pt 0pt 0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt -18pt 0pt 0pt;text-indent:18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Forward-Looking Statements</font>
		</p>
		<p style="margin:0pt -18pt 0pt 0pt;text-indent:18pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">From time to time, in reports filed with the Securities and Exchange Commission</font><font style="display:inline;font-size:10pt;"> (the &#x201C;SEC&#x201D;)</font><font style="display:inline;font-size:10pt;"> (including this Form 10-Q), in press releases, and in other communications to shareholders or the investment community, </font><font style="display:inline;font-size:10pt;">AxoGen, Inc. (the &#x201C;Company&#x201D; or &#x201C;AxoGen&#x201D;)</font><font style="display:inline;font-size:10pt;"> may provide forward-looking statements concerning possible or anticipated future results of operations or business developments. These statements are based on management&#x2019;s current expectations or predictions of future conditions, events or results based on various assumptions and management&#x2019;s estimates of trends and economic factors in the markets in which we are active, as well as our business plans. Words such as &#x201C;expects&#x201D;, &#x201C;anticipates&#x201D;, &#x201C;intends&#x201D;, &#x201C;plans&#x201D;, &#x201C;believes&#x201D;, &#x201C;seeks&#x201D;, &#x201C;estimates&#x201D;, &#x201C;projects&#x201D;, &#x201C;forecasts&#x201D;, &#x201C;may&#x201D;, &#x201C;should&#x201D;, variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements may include, without limitation, statements regarding product development, product potential, regulatory environment, sales and marketing strategies, liquidity, capital resources or operating performance. The forward-looking statements are subject to risks and uncertainties, which may cause results to differ materially from those set forth in the statements. Forward-looking statements in this Form 10-Q should be evaluated together with the many uncertainties that affect the Company&#x2019;s business and its market, particularly those discussed in the risk factors and cautionary statements in the Company&#x2019;s filings with the </font><font style="display:inline;font-size:10pt;">SEC</font><font style="display:inline;font-size:10pt;">.&nbsp;Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those projected.&nbsp;The forward-looking statements are representative only as of the date they are made, and the Company assumes no responsibility to update any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">1</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">PART</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">1 &#x2014; FINANCIAL INFORMATION</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 1 &#x2014; CONDENSED CONSOLIDATED FINANCIAL STATEMENT</font><a name="ITEM1CONDENSEDCONSOLIDATEDFINANCIALSTATE"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S AND NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen,</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Condensed Consolidated Balance Sheets</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Assets</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Current assets:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Cash and cash equivalents</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,935,467
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,215,791
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 19.45pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts receivable, net of allowance for doubtful accounts of approximately </font><font style="display:inline;font-size:10pt;">$166,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$94,000</font><font style="display:inline;font-size:10pt;"> respectively</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,642,802
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,872,308
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Inventory</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,701,755
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,213,620
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Prepaid expenses and other</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>290,231
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>109,369
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total current assets</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>38,570,255
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,411,088
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Property and equipment, net</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>830,083
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,028
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>635,349
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>577,174
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>877,265
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>793,499
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,912,952
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,400,789
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Liabilities and Shareholders&#x2019; Equity (Deficit)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Current liabilities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts payable and accrued expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,086,307
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,431,194
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Current deferred revenue</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,118
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,118
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total current liabilities</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,100,425
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,445,312
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Note Payable - Revenue Interest Purchase Agreement</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Long Term Deferred Revenue</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>99,193
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115,380
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total liabilities</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,736,985
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,646,469
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Commitments and contingencies</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Shareholders&#x2019; equity (deficit):</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 19.45pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Common stock, </font><font style="display:inline;font-size:10pt;">$.01</font><font style="display:inline;font-size:10pt;"> par value; </font><font style="display:inline;font-size:10pt;">50,000,000</font><font style="display:inline;font-size:10pt;"> shares authorized; </font><font style="display:inline;font-size:10pt;">29,844,503</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">19,488,814</font><font style="display:inline;font-size:10pt;"> shares </font><font style="display:inline;font-size:10pt;">issued</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">outstanding</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>298,445
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>194,888
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Additional paid-in capital</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110,738,708
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>78,675,686
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accumulated deficit</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(99,861,186)
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(90,116,254)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total shareholders&#x2019; equity (deficit)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,175,967
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,245,680)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:70.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,912,952
				</td>
				<td valign="bottom" style="width:01.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:11.16%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,400,789
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-style:italic;font-size:10pt;">See notes to condensed consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">AxoGen,&nbsp;Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Condensed Consolidated Statements of Operations</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">(unaudited)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Three Months Ended </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Revenues</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,153,675
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,671,340
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,522,244
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,023,789
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cost of goods sold</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,410,416
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>896,178
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,433,138
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,485,299
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Gross profit</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,743,259
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,775,162
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,089,106
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,538,490
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Costs and expenses:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Sales and marketing</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,512,613
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,250,977
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,257,397
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,326,596
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Research and development</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>936,015
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>681,230
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,343,450
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,049,603
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">General and administrative</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,212,457
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,645,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,103,058
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,254,082
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total costs and expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,661,085
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,578,066
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,703,905
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,630,281
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Loss from operations</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,917,826)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,802,904)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,614,799)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,091,791)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Other income (expense):</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Interest expense</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,042,258)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,380,470)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,060,779)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,963,885)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Interest expense &#x2014; deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(31,419)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(55,217)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(96,375)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(158,648)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Other income (expense) </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,645
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>417
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,021
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,886)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Total other income (expense) </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,061,032)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,435,270)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,130,133)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,127,419)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Net Loss</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,978,858)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,238,174)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,744,932)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,219,210)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Weighted Average Common Shares outstanding &#x2014; basic and diluted</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,841,060
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,466,097
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,778,123
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,437,373
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:43.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Loss Per Common share &#x2014; basic and diluted</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.11)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.19)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.39)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.54%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.64)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-style:italic;font-size:10pt;">See notes to condensed consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">AxoGen,</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Condensed Consolidated Statements of Cash Flows</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">(unaudited)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="5" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine Months Ended September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cash flows from operating activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Net loss</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,744,932)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,219,210)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Adjustments to reconcile net loss to net cash used for operating activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Depreciation</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>142,038
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111,390
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Amortization of intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,009
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,468
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Amortization of deferred financing costs</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>96,375
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>158,648
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Stock-based compensation</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,031,218
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>701,697
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Stock grant for service</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60,125
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Interest added to note payable</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>451,590
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,810,182
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Change in assets and liabilities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 24pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts receivable</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,770,494)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(849,342)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 24pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Inventory</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(488,135)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52,323
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 24pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Prepaid expenses and other</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(180,862)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>195,796
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 24pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts payable and accrued expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,655,114
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(63,848)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 24pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Deferred revenue</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(16,187)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,714)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Net cash used for operating activities</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,790,266)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,019,485)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cash flows from investing activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Purchase of property and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(353,093)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(342,875)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Acquisition of intangible assets</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(92,184)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(39,454)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Net cash used for investing activities</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(445,277)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(382,329)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cash flows from financing activities:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Proceeds from issuance of common stock</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,970,735
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Arial;color:#000000;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Debt issuance costs</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(180,142)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Arial;color:#000000;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Proceeds from exercise of stock options</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>164,626
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>134,672
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Net cash provided by financing activities</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,955,219
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>134,672
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Net increase / (decrease) in cash and cash equivalents</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,719,676
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,267,142)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cash and cash equivalents,</font><font style="display:inline;font-size:10pt;"> beginning of year</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,215,791
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,069,750
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Cash and cash equivalents,</font><font style="display:inline;font-size:10pt;"> end of period</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,935,467
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,802,608
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Supplemental disclosures of cash flow activity:</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Cash paid for interest</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,949,381
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,154,738
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-style:italic;font-size:10pt;">See notes to condensed consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">AxoGen,</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Inc.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Notes to Condensed Consolidated Financial Statements</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">(unaudited)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Unless the context otherwise requires, all references in these Notes to &#x201C;AxoGen,&#x201D; &#x201C;the Company,&#x201D; &#x201C;we,&#x201D; &#x201C;us&#x201D; and &#x201C;our&#x201D; refer to AxoGen, Inc. and its wholly owned subsidiary AxoGen Corporation (&#x201C;AC&#x201D;).</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">1.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Basis of Presentation </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The accompanying condensed consolidated financial statements include the accounts of AxoGen, Inc. (the &#x201C;Company&#x201D; or &#x201C;AxoGen&#x201D;) and its wholly owned subsidiary AxoGen Corporation (&#x201C;AC&#x201D;)&nbsp;&nbsp;as of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015</font><font style="display:inline;font-size:10pt;"> and December 31, 2014 and for the three</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> month periods ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015</font><font style="display:inline;font-size:10pt;"> and 2014.&nbsp;&nbsp;The Company&#x2019;s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America </font><font style="display:inline;font-size:10pt;">(&#x201C;GAAP&#x201D;) </font><font style="display:inline;font-size:10pt;">and should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2014, which are included in the </font><font style="display:inline;font-size:10pt;">Company&#x2019;s </font><font style="display:inline;font-size:10pt;">Annual Report on Form 10-K as of and for the year ended December 31, 2014.&nbsp;&nbsp;The interim condensed consolidated financial statements are unaudited and in the opinion of management, reflect all adjustments necessary for a fair presentation of results for the periods presented.&nbsp;&nbsp;Results for interim periods are not necessarily indicative of results for the full year. All significant intercompany accounts and transactions have been eliminated in consolidation.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">2.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Organization and Business</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Business Summary</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen is a leading medical technology company dedicated to peripheral nerve repair. The company has created and licensed a unique combination of patented nerve repair technologies to change the standard of care for patients with peripheral nerve injuries. AxoGen&#x2019;s portfolio of regenerative medicine products is available in the United States, Canada and several </font><font style="display:inline;font-size:10pt;">other</font><font style="display:inline;font-size:10pt;"> countries and includes</font><font style="display:inline;font-size:10pt;">: (i)</font><font style="display:inline;font-size:10pt;"> Avance&#xAE; Nerve Graft, an off-the-shelf commercially available processed human nerve allograft for bridging severed nerves without the comorbidities associated with an additional surgical site</font><font style="display:inline;font-size:10pt;">: (ii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Connector, a porcine submucosa extracellular matrix (&#x201C;ECM&#x201D;) coaptation aid for tensionless repair of severed nerves</font><font style="display:inline;font-size:10pt;">; (iii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments</font><font style="display:inline;font-size:10pt;">;</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">(iv) </font><font style="display:inline;font-size:10pt;">the AxoTouch&#x2122; Two-Point Discriminator, a tool useful for measuring sensation after a nerve injury, following the progression of a repaired nerve, and during the evaluation of a person with a possible nerve injury, such as nerve division or nerve compression.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Avance&#xAE; Nerve Graft is processed in the United States by AxoGen. AxoGuard&#xAE; Nerve Connector and AxoGuard&#xAE; Nerve Protector are manufactured in the United States by Cook Biotech Incorporated, and are distributed wo</font><font style="display:inline;font-size:10pt;">rldwide exclusively by AxoGen.</font><font style="display:inline;font-size:10pt;"> &nbsp;AxoGen maintains its corporate offices in Alachua, Florida and is the parent </font><font style="display:inline;font-size:10pt;">company </font><font style="display:inline;font-size:10pt;">of its wholly owned operating subsidiary, AxoGen Corporation.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;Summary of Significant Accounting Policies </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Revenue Recognition</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed and determinable, delivery has occurred and there is a reasonable assurance of collection of the sales proceeds. Revenues for manufactured products and products sold to a customer or under a distribution agreement are recognized when the product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;"> to the customer or distributor, at which time title passes to the customer or distributor</font><font style="display:inline;color:#000000;font-size:10pt;">.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Once a product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;">, the Company has no further performance obligations. </font><font style="display:inline;color:#000000;font-size:10pt;">Shipped product</font><font style="display:inline;color:#000000;font-size:10pt;"> is defined as </font><font style="display:inline;color:#000000;font-size:10pt;">product being shipped from our facility via courier</font><font style="display:inline;color:#000000;font-size:10pt;"> to a customer location or segregation of product into a contracted distribution location. At such time, this product cannot be sold to any other customer.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Fees charged to customers for shipping are recognized as revenues when products are shipped to the customer, distributor or end user. </font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">I</font><font style="display:inline;color:#000000;font-size:10pt;">n the case of revenues from consigned sales delivery is </font><font style="display:inline;color:#000000;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;color:#000000;font-size:10pt;">determined when the product is utilized in a surgical procedure. Revenues from research grants are recognized in the period the associated costs are incurred.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Cash and Cash Equivalents and Concentration</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances and does not believe it is exposed to any significant credit risk on cash and cash equivalents.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Accounts Receivable and Concentration of Credit Risk</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Accounts receivable are carried at the original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer&#x2019;s financial condition, credit history and current economic conditions. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">We regularly review all accounts that exceed 60 days from the invoice date and based on an assessment of current credit worthiness, estimate the portion, if any, of the balance that will not be collected.&nbsp;&nbsp;The analysis excludes certain government related receivables due to our past successful experience in collectability.&nbsp;&nbsp;Specific accounts that are deemed uncollectible are reserved at </font><font style="display:inline;color:#000000;font-size:10pt;">100%</font><font style="display:inline;color:#000000;font-size:10pt;"> of their outstanding balance.&nbsp;&nbsp;The remaining balances outstanding over 60 days have a percentage applied by aging category (</font><font style="display:inline;color:#000000;font-size:10pt;">5%</font><font style="display:inline;color:#000000;font-size:10pt;"> for </font><font style="display:inline;color:#000000;font-size:10pt;">balances </font><font style="display:inline;color:#000000;font-size:10pt;">61</font><font style="display:inline;color:#000000;font-size:10pt;">-</font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days and </font><font style="display:inline;color:#000000;font-size:10pt;">20%</font><font style="display:inline;color:#000000;font-size:10pt;"> for balances over 90 days aged), based on a historical valuation that allows us to calculate the total reserve required.&nbsp;&nbsp;The reserve balance was determined by applying a percentage to the cumulative balance between </font><font style="display:inline;color:#000000;font-size:10pt;">60</font><font style="display:inline;color:#000000;font-size:10pt;"> and 90 days and a higher percentage to the balance over </font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days.&nbsp;&nbsp;In the event that we exhaust all collection efforts and deem an account uncollectible, we would subsequently write off the account.&nbsp;&nbsp;The write off process involves approval by senior management based on the write off amount.&nbsp;&nbsp;The allowance for doubtful accounts reserve balance was approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$1</font><font style="display:inline;color:#000000;font-size:10pt;">66</font><font style="display:inline;color:#000000;font-size:10pt;">,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$94,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December 31, 2014, respectively.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company&#x2019;s customer base, thus spreading the trade credit risk. The Company also controls credit risk through credit approvals, credit limits and monitoring procedures.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Inventories</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories are comprised of implantable tissue, nerve grafts, Avance</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Graft, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Connector, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Finished goods</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,573,348
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,072,235
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Work in process</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,478
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,891
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Raw materials</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>897,929
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>809,494
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,701,755
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,213,620
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories were net of reserve of approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$6</font><font style="display:inline;color:#000000;font-size:10pt;">18</font><font style="display:inline;color:#000000;font-size:10pt;">,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$404,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December&nbsp;31, 2014, respectively.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Income Taxes</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company has not recorded current income tax expense due to the generation of net operating losses. Deferred income taxes are accounted for using the balance sheet approach which requires recognition of deferred tax assets and </font><font style="display:inline;color:#000000;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">6</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;color:#000000;font-size:10pt;">liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section&nbsp;382 as a result of changes in ownership.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company&#x2019;s remaining open tax years subject to examination by the Internal Revenue Service include the years ended December 31, 2011 through 2014; there currently are no examinations in process.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Fair Value of Financial Instruments</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair value of the Company&#x2019;s long-term debt approximates its carrying value based upon current rates available to the Company.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:3pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Share-Based Compensation</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Stock-based compensation cost related to stock options granted under the AC 2002 Stock Option Plan </font><font style="display:inline;color:#000000;font-size:10pt;">(the &#x201C;AC Plan&#x201D;) </font><font style="display:inline;color:#000000;font-size:10pt;">and AxoGen 2010 Stock Incentive Plan</font><font style="display:inline;color:#000000;font-size:10pt;"> (the &#x201C;AxoGen Plan&#x201D; and, together with the AC Plan, the &#x201C;Plans&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> is measured at grant date, based on the fair value of the award, and is recognized as an expense over the employee&#x2019;s requisite service period. The Company estimates the fair value of each option award issued under the Plan</font><font style="display:inline;color:#000000;font-size:10pt;">s</font><font style="display:inline;color:#000000;font-size:10pt;"> on the date of grant using a Black-Scholes-Merton option-pricing model that uses the assumptions noted in the table below. The Company estimates the volatility of its common stock</font><a name="_cp_text_4_27"></a><font style="display:inline;color:#000000;font-size:10pt;">, par value $0.01 per share (the &#x201C;Common </font><font style="display:inline;color:#000000;font-size:10pt;">Stock&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> at the date of grant based on the volatility of comparable peer companies which are publicly traded, for the periods prior to the October 2011 merger of LecTec, Inc. and </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, and based on the </font><font style="display:inline;color:#000000;font-size:10pt;">C</font><font style="display:inline;color:#000000;font-size:10pt;">ommon </font><font style="display:inline;color:#000000;font-size:10pt;">S</font><font style="display:inline;color:#000000;font-size:10pt;">tock for periods subsequent to such merger. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its </font><font style="display:inline;color:#000000;font-size:10pt;">Common Stock</font><font style="display:inline;color:#000000;font-size:10pt;"> and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following weighted-average assumptions for options granted during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine months ended September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected term (in years)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected volatility</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75.45
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79.76
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Risk free rate</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.27
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.23
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected dividends</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and also impact the amount of unamortized compensation expense to be recognized in future periods. The Company did not apply a forfeiture allocation to its unvested options outstanding during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and 2014 as they were deemed insignificant.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">7</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Use of Estimates</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The preparation of financial statements in conformity with </font><font style="display:inline;color:#000000;font-size:10pt;">GAAP</font><font style="display:inline;color:#000000;font-size:10pt;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and </font><font style="display:inline;color:#000000;font-size:10pt;">the </font><font style="display:inline;color:#000000;font-size:10pt;">disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Recent Accounting Pronouncements</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-03 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;line-height:120%;text-indent:9pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In February 2015, the FASB issued Accounting Standards Update No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" ("ASU 2015-02") which updates the considerations on whether an entity should consolidate certain legal entities. The update removes the indefinite deferral of specialized guidance for certain investment funds and changes the way that entities evaluate limited partnerships and fees paid to service providers in the consolidation determination. ASU 2015-02 will become effective for public companies during interim and annual reporting periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">December </font><font style="display:inline;color:#000000;font-size:10pt;">1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Early adoption is permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements. </font>
		</p>
		<p style="margin:0pt;line-height:120%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">December </font><font style="display:inline;color:#000000;font-size:10pt;">1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In May 2014, the FASB issued a new standard on revenue recognition which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">December </font><font style="display:inline;color:#000000;font-size:10pt;">1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2016; however, </font><font style="display:inline;color:#000000;font-size:10pt;">on July 9, 2015, the FASB decided to delay the effective date of the new revenue standard by one year</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp;&nbsp;The proposed deferral may permit early adoption, but would not allow adoption any earlier than the original effective date of the standard. We are currently evaluating the impact this standard will have on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company&#x2019;s management has reviewed and considered all other recent accounting pronouncements and believe there are none that could potentially have a material impact on the Company&#x2019;s consolidated financial condition, results of operations, or disclosures.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">4.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Property and Equipment </font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Property and equipment consist of the following:</font>
		</p>
		<p style="margin:0pt;text-indent:14.4pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Furniture and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,092,486
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>873,824
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Leasehold improvements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,399
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>285,697
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Processing equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,276,442
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,194,712
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated depreciation and amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,877,244)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,735,205)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Property and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>830,083
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,028
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company&#x2019;s intangible assets consist of the following:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">License agreements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>876,063
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>850,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Patents</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146,976
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,996
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(387,690)
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(353,681)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Intangible assets, net</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>635,349
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>577,174
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">License agreements are being amortized over periods ranging from </font><font style="display:inline;font-size:10pt;">17</font><font style="display:inline;font-size:10pt;">-</font><font style="display:inline;font-size:10pt;">20</font><font style="display:inline;font-size:10pt;"> years. Patent costs were being amortized over </font><font style="display:inline;font-size:10pt;">three</font><font style="display:inline;font-size:10pt;"> years. As of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015</font><font style="display:inline;font-size:10pt;">, the patents were fully amortized, and the remaining patents of </font><font style="display:inline;font-size:10pt;">$1</font><font style="display:inline;font-size:10pt;">46</font><font style="display:inline;font-size:10pt;">,9</font><font style="display:inline;font-size:10pt;">76</font><font style="display:inline;font-size:10pt;"> were pending patent costs and were not amortizable. Amortization expense was approximately </font><font style="display:inline;font-size:10pt;">$11,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$11,000</font><font style="display:inline;font-size:10pt;"> for the three months </font><font style="display:inline;font-size:10pt;">ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">and approximately </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">34</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">33</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively. As of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, future amortization of license agreements</font><font style="display:inline;font-size:10pt;"> for the next five years</font><font style="display:inline;font-size:10pt;"> is expected to be </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">14</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> for the remainder of </font><font style="display:inline;font-size:10pt;">2015</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$48,000</font><font style="display:inline;font-size:10pt;"> for </font><font style="display:inline;font-size:10pt;">2016</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">through</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">2020</font><font style="display:inline;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">License Agreements</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company has entered into multiple license agreements (the &#x201C;License Agreements&#x201D;) with the University of Florida Research Foundation (&#x201C;UFRF&#x201D;) and University of Texas at Austin (&#x201C;UTA&#x201D;). Under the terms of the License Agreements, the Company acquired exclusive worldwide licenses for underlying technology used in repairing and regenerating nerves. The licensed technologies include the rights to issued patents and patents pending in the United States and international markets. The effective term of the License Agreements extends through the term of the related patents and the agreements may be terminated by the Company with </font><font style="display:inline;font-size:10pt;">60</font><font style="display:inline;font-size:10pt;"> days prior written notice. Additionally, in the event of default, licensors may terminate an agreement if the Company fails to cure a breach after written notice. The License Agreements contain the key terms listed below:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">AxoGen pays royalty fees ranging from </font><font style="display:inline;font-size:10pt;color:#000000;">1%</font><font style="display:inline;font-size:10pt;color:#000000;"> to </font><font style="display:inline;font-size:10pt;color:#000000;">3%</font><font style="display:inline;font-size:10pt;color:#000000;"> under the License Agreements based on net sales of licensed products.&nbsp;One of the agreements also contains a minimum royalty of </font><font style="display:inline;font-size:10pt;color:#000000;">$12,500</font><font style="display:inline;font-size:10pt;color:#000000;"> per quarter, which may include a credit in future quarters in the same calendar year for the amount the minimum royalty exceeds the royalty fees.&nbsp;Also, when AxoGen pays royalties to more than one licensor for sales of the same product, a royalty stack cap applies, capping total royalties at </font><font style="display:inline;font-size:10pt;color:#000000;">3.75%;</font><font style="display:inline;font-size:10pt;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">If AxoGen sublicenses technologies covered by the License Agreements to third parties, AxoGen would pay a percentage of sublicense fees received from the third party to the licensor.&nbsp;Currently, AxoGen does not </font><font style="display:inline;font-size:10pt;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">9</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 10pt;;"><font style="display:inline;font-size:10pt;color:#000000;">sublicense any technologies covered by License Agreements. The Company is not considered a sub-licensee under the License Agreements and does not owe any sublicensee fees for its own use of the technologies; </font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">AxoGen reimburses the licensors for certain legal expenses incurred for patent prosecution and defense of the technologies covered by the License Agreements; and </font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">Currently, under one of the License Agreements, AxoGen would owe a </font><font style="display:inline;font-size:10pt;color:#000000;">$15,000</font><font style="display:inline;font-size:10pt;color:#000000;"> milestone fee upon receiving a Phase II Small Business Innovation Research or Phase II Small Business Technology Transfer grant involving the licensed technology. The Company has not received either grant and does not owe such a milestone fee.&nbsp;Other milestone fees are due if AxoGen develops certain pharmaceutical or medical device products under the License Agreements. </font><font style="display:inline;font-size:10pt;color:#000000;">No</font><font style="display:inline;font-size:10pt;color:#000000;"> such products are currently under development.</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Royalty fees were approximately </font><font style="display:inline;font-size:10pt;">$1</font><font style="display:inline;font-size:10pt;">6</font><font style="display:inline;font-size:10pt;">2,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">93</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> during the three months </font><font style="display:inline;font-size:10pt;">ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">and were </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">379</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">238</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively, and are included in sales and marketing expense on the accompanying condensed consolidated statements of operations.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">6.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Accounts Payable and Accrued Expenses</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Accounts payable and accrued expenses consists of the following:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts payable</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,640,811
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,160,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Miscellaneous accruals</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>963,984
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105,315
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accrued compensation</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,481,512
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,165,020
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Accounts Payable and Accrued Expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,086,307
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,431,194
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;Notes Payable</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Notes Payable consists of the following:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Term Loan and Revenue Interest Agreement with Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;) for a total term loan amount of $25,000,000 which has a six year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at 9.00% per annum plus the greater of LIBOR or 1.0% which as of September 30, 2015 and December 31, 2014 resulted in a 10% rate. The Revenue Interest Agreement is for a period of ten years. Royalty payments are based on a royalty rate of 3.75% of revenues up to a maximum of $30 million in revenues in any 12 month period.</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Long-term portion</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Note Payable</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On October 5, 2012, AxoGen entered into a Revenue Interests Purchase Agreement (the &#x201C;Royalty Contract&#x201D;) with PDL BioPharma, Inc. (&#x201C;PDL&#x201D;), pursuant to which the Company sold to PDL the right to receive royalties equal to 9.95% of the Company&#x2019;s Net Revenues (as defined in the Royalty Contract) generated by the sale, distribution or other use of AxoGen&#x2019;s products Avance&#xAE; Nerve Graft, AxoGuard&#xAE; Nerve Connector and AxoGuard&#xAE; Nerve Protector.&nbsp;&nbsp;The Royalty Contract had a term of </font><font style="display:inline;font-size:10pt;">eight</font><font style="display:inline;font-size:10pt;"> years. Under the Royalty Contract, PDL received royalty payments based on a </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">10</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">royalty rate of </font><font style="display:inline;font-size:10pt;">9.95%</font><font style="display:inline;font-size:10pt;"> of the Company&#x2019;s Net Revenues, subject to certain agreed upon minimum payment requirements, which were anticipated to be approximately </font><font style="display:inline;font-size:10pt;">$1.3</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">million </font><font style="display:inline;font-size:10pt;">to </font><font style="display:inline;font-size:10pt;">$2.5</font><font style="display:inline;font-size:10pt;"> million per quarter to begin in the fourth quarter of 2014 through the third quarter of 2020 as provided in the Royalty Contract. The Company recorded interest using its best estimate of the effective interest rate accruing interest using the specified internal rate of return of the Put Option of </font><font style="display:inline;font-size:10pt;">20%</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The total consideration PDL paid to the Company was </font><font style="display:inline;font-size:10pt;">$20,800,000</font><font style="display:inline;font-size:10pt;"> (the &#x201C;Funded Amount&#x201D;), which included </font><font style="display:inline;font-size:10pt;">$19,050,000</font><font style="display:inline;font-size:10pt;"> PDL paid to the Company on October&nbsp;5, 2012, and </font><font style="display:inline;font-size:10pt;">$1,750,000</font><font style="display:inline;font-size:10pt;"> PDL paid to the Company on August 14, 2012 pursuant to an Interim Revenue Interest Purchase Agreement between the Company and PDL, dated August 14, 2012 (the &#x201C;Interim Royalty Contract&#x201D;). Upon the closing (the &#x201C;Closing&#x201D;) of PDL&#x2019;s purchase of the specified royalties described above, which was concurrent with the execution of the Royalty Contract, the Interim Royalty Contract was terminated. On November 12, 2014, the Company paid PDL </font><font style="display:inline;font-size:10pt;">$30.3</font><font style="display:inline;font-size:10pt;"> million to fully extinguish the Royalty Contract.&nbsp;&nbsp;The Company has </font><font style="display:inline;font-size:10pt;">no</font><font style="display:inline;font-size:10pt;"> further obligations under the Royalty Contract.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On November 12, 2014, the Company sold </font><font style="display:inline;font-size:10pt;">643,382</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> for a total of </font><font style="display:inline;font-size:10pt;">$1.75</font><font style="display:inline;font-size:10pt;"> million to PDL (&#x201C;PDL Equity Sale&#x201D;) at a price of </font><font style="display:inline;font-size:10pt;">$2.72</font><font style="display:inline;font-size:10pt;"> per share pursuant to a Securities Purchase Agreement by and between the Company and PDL.&nbsp;&nbsp;The Company intends to use the proceeds from the PDL Equity Sale for general corporate purposes.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Term Loan Agreement and Revenue Interest Agreement</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On November 12, 2014, (the &#x201C;Signing Date&#x201D;), AxoGen, as borrower, and AC, as guarantor, entered into a term loan agreement (the &#x201C;Term Loan Agreement&#x201D;) with the lenders party thereto and Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;), an indirect wholly-owned subsidiary of Oberland Capital Healthcare Master Fund LP (&#x201C;Oberland&#x201D;), as administrative and collateral agent for the lenders</font><font style="display:inline;font-size:10pt;"> thereto</font><font style="display:inline;font-size:10pt;">. Under the Term Loan Agreement, Three Peaks has agreed to lend to AxoGen a term loan of </font><font style="display:inline;font-size:10pt;">$25</font><font style="display:inline;font-size:10pt;"> million (the &#x201C;Initial Term Loan&#x201D;) which has a </font><font style="display:inline;font-size:10pt;">six</font><font style="display:inline;font-size:10pt;"> year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at </font><font style="display:inline;font-size:10pt;">9.00%</font><font style="display:inline;font-size:10pt;"> per annum plus the greater of </font><font style="display:inline;font-size:10pt;">LIBOR</font><font style="display:inline;font-size:10pt;"> or </font><font style="display:inline;font-size:10pt;">1.0%</font><font style="display:inline;font-size:10pt;"> which as of November 13, 2014 (&#x201C;the Initial Closing Date&#x201D;) resulted in a </font><font style="display:inline;font-size:10pt;">10%</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">interest </font><font style="display:inline;font-size:10pt;">rate. </font><font style="display:inline;font-size:10pt;">As of September 30, 2015 the Company has accrued </font><font style="display:inline;font-size:10pt;">$625,000</font><font style="display:inline;font-size:10pt;"> due for the third quarter interest </font><font style="display:inline;font-size:10pt;">which</font><font style="display:inline;font-size:10pt;"> was paid on </font><font style="display:inline;font-size:10pt;">October 9, 2015</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The amount is included in accrued expenses at September 30, 2015.&nbsp; </font><font style="display:inline;font-size:10pt;">Under certain conditions, AxoGen has the option to draw an additional </font><font style="display:inline;font-size:10pt;">$7</font><font style="display:inline;font-size:10pt;"> million (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;Subsequent Borrowing&#x201D; and, together with the Initial Term Loan, the &#x201C;Term Loan&#x201D;) during the period of April 1, 2016 through June 29, 2016 (the closing date of each such Subsequent Borrowing, a (&#x201C;Subsequent Closing Date&#x201D; and, together with the Initial Closing Date, the &#x201C;Closing Dates&#x201D;) under similar terms and conditions. AxoGen has to maintain certain covenants including limiting new indebtedness, restriction of the payment of dividends and maintain certain levels of revenue. Three Peaks has a first perfected security interest in the assets of AxoGen.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In addition, AxoGen entered into a </font><font style="display:inline;font-size:10pt;">10</font><font style="display:inline;font-size:10pt;"> year Revenue Interest Agreement (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;Revenue Interest Agreement&#x201D;) with Three Peaks. Royalty payments are based on a royalty rate of </font><font style="display:inline;font-size:10pt;">3.75%</font><font style="display:inline;font-size:10pt;"> of AxoGen&#x2019;s revenues up to a maximum of </font><font style="display:inline;font-size:10pt;">$30</font><font style="display:inline;font-size:10pt;"> million in revenues in any 12 month period. In the event the Subsequent Borrowing is drawn, the royalty rate increases proportionally up to a maximum of </font><font style="display:inline;font-size:10pt;">4.80%</font><font style="display:inline;font-size:10pt;"> &nbsp;&nbsp;AxoGen has to maintain certain covenants including those covenants under the Term Loan.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Under the Term Loan Agreement, AxoGen has the option at any time to prepay the Term Loan, in whole or in part, and the Royalty Interest Agreement, defined below, by making the following payment, and Three Peaks has the right to demand the following payment upon a change of control of AxoGen, sale of the majority of AxoGen&#x2019;s assets or a material adverse change to AxoGen: (i) on or prior to the first anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">120%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; (ii) after the first anniversary but no later than the second anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">135%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; (iii) after the second anniversary but no later than the third anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">150%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; or (iv) after the third anniversary of the applicable Closing Date, an amount generating an </font><font style="display:inline;font-size:10pt;">i</font><font style="display:inline;font-size:10pt;">nternal </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">ate of </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">eturn of </font><font style="display:inline;font-size:10pt;">16.25%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid. In all cases, the amount due is reduced by the sum of interest and principal previously paid and all amounts received under the Revenue Interest Agreement. In each such case AxoGen will also owe an additional </font><font style="display:inline;font-size:10pt;">3%</font><font style="display:inline;font-size:10pt;"> of the originally advanced Term Loan amount. Upon payment to Three Peaks, AxoGen would have no further obligations to Three Peaks under the Term Loan or the Revenue Interest Agreement.</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
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		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">11</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In connection with the Term Loan Agreement, on the Signing Date, the Company and </font><font style="display:inline;font-size:10pt;">AC, </font><font style="display:inline;font-size:10pt;">its wholly owned subsidiary, entered into a Security Agreement (the &#x201C;Security Agreement&#x201D;) with Three Peaks, pursuant to which each of the Company and AC grants to Three Peaks a security interest in certain collateral as specified in the Security Agreement to guarantee the payment in full when due of the </font><font style="display:inline;font-size:10pt;">s</font><font style="display:inline;font-size:10pt;">ecured </font><font style="display:inline;font-size:10pt;">o</font><font style="display:inline;font-size:10pt;">bligations.</font><font style="display:inline;font-size:10pt;"> &nbsp;In the event of default per the terms of the Term Loan Agreement Three Peaks would have the ability to foreclose on the pledged collateral and the Company and AC would not be able to continue its current business if such foreclosure occurred.&nbsp;&nbsp; </font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Also in connection with the above transaction, the Company sold </font><font style="display:inline;font-size:10pt;">1,375,969</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> to Three Peaks for a total of </font><font style="display:inline;font-size:10pt;">$3.55</font><font style="display:inline;font-size:10pt;"> million (&#x201C;Three Peaks Equity Sale&#x201D;) at a price of </font><font style="display:inline;font-size:10pt;">$2.58</font><font style="display:inline;font-size:10pt;"> per share.&nbsp;&nbsp;Pursuant to the equity purchase provisions in the Three Peaks Term Loan Agreement, in the event that prior to November 12, 2016</font><font style="display:inline;font-size:10pt;">, we sell</font><font style="display:inline;font-size:10pt;"> our securities at a lower price per share than the $2.58 per share paid by Three Peaks, or where the terms of such subsequent sale are otherwise more favorable, then in such case we have agreed to match the more favorable terms of such subsequent sale with respect to the shares purchased by Three Peaks. A subsequent sale does not include the issuance of securities or options to our employees, officers, directors or consultants pursuant to our approved employee option pool or any other employee stock purchase or option plan existing as of November 12, 2014.</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company records interest using its best estimate of the effective interest rate.&nbsp;&nbsp;This estimate takes into account both the rate on the Term Loan Agreement and the rate associated with the 10 year Revenue Interest Agreement with Three Peaks.&nbsp;&nbsp;The effective interest rate is based on actual payments to date, projected future revenues and the projected royalty payments and the quarterly interest payments due on the Term Loan Agreement.&nbsp;&nbsp;From time to time, AxoGen will reevaluate the expected cash flows and may adjust the effective interest rate.&nbsp;&nbsp;Determining the effective interest rate requires judgment and is based on significant assumptions related to estimates of the amounts and timing of future revenue streams.&nbsp;&nbsp;Determination of these assumptions is highly subjective and different assumptions could lead to materially different outcomes.</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">8.&nbsp;&nbsp;&nbsp;&nbsp;Stock Options </font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company granted stock options to purchase </font><font style="display:inline;font-size:10pt;">376,000</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> pursuant to </font><font style="display:inline;font-size:10pt;">the AxoGen</font><font style="display:inline;font-size:10pt;"> Plan for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.&nbsp;&nbsp;Stock-based compensation expense was </font><font style="display:inline;font-size:10pt;">$334,593</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$227,553</font><font style="display:inline;font-size:10pt;"> for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively and </font><font style="display:inline;font-size:10pt;">$1,031,218</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$701,697</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively. </font><font style="display:inline;font-size:10pt;">During the quarter, the company granted stock options to purchase </font><font style="display:inline;font-size:10pt;">108,000</font><font style="display:inline;font-size:10pt;"> shares of Common Stock that are contingent upon certain future events.&nbsp;&nbsp;No stock compensation expense has been recorded for these options due</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">to the uncertainty of those future events.&nbsp; </font><font style="display:inline;font-size:10pt;">Total future stock compensation expense related to nonvested awards is expected to be approximately </font><font style="display:inline;font-size:10pt;">$2,046,000</font><font style="display:inline;font-size:10pt;"> at </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">9.&nbsp;&nbsp;&nbsp;Public Offering of Common Stock</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On February 5, 2015, AxoGen entered into </font><font style="display:inline;font-size:10pt;">an u</font><font style="display:inline;font-size:10pt;">nderwriting </font><font style="display:inline;font-size:10pt;">a</font><font style="display:inline;font-size:10pt;">greement with </font><font style="display:inline;font-size:10pt;">Wedbush Securities Inc. (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;</font><font style="display:inline;font-size:10pt;">Underwriter</font><font style="display:inline;font-size:10pt;">&#x201D;)</font><font style="display:inline;font-size:10pt;"> in connection with the offering, issuance and sale (the &#x201C;</font><font style="display:inline;font-size:10pt;"> February 2015 </font><font style="display:inline;font-size:10pt;">Offering&#x201D;) of </font><font style="display:inline;font-size:10pt;">4,728,000</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;"> Common Stock</font><font style="display:inline;font-size:10pt;">, at a price to the public of </font><font style="display:inline;font-size:10pt;">$2.75</font><font style="display:inline;font-size:10pt;"> per share.&nbsp; The Company also granted to the Underwriter a </font><font style="display:inline;font-size:10pt;">30</font><font style="display:inline;font-size:10pt;">-day option to purchase up to an aggregate of </font><font style="display:inline;font-size:10pt;">709,200</font><font style="display:inline;font-size:10pt;"> additional </font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;"> to cover over-allotments, if any.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-family:Times-Roman;font-size:10pt;">As of February 13, 2015, the </font><font style="display:inline;font-family:Times-Roman;font-size:10pt;">February 2015 </font><font style="display:inline;font-family:Times-Roman;font-size:10pt;">Offering was completed with the sale of </font><font style="display:inline;font-size:10pt;">5,437,200</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;"> including all 709,200 shares of Common stock issued pursuant to the Underwriter&#x2019;s</font><font style="display:inline;font-size:10pt;"> exercise of </font><font style="display:inline;font-size:10pt;">its</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">over-allotment option, resulting in gross proceeds to AxoGen from the </font><font style="display:inline;font-size:10pt;">February 2015 </font><font style="display:inline;font-size:10pt;">Offering of approximately </font><font style="display:inline;font-size:10pt;">$15.0</font><font style="display:inline;font-size:10pt;"> million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately </font><font style="display:inline;font-size:10pt;">$1.4</font><font style="display:inline;font-size:10pt;"> million. The </font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;"> were listed on the NASDAQ Capital Market.</font><font style="display:inline;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:10pt;">The February 2015 </font><a name="_cp_text_4_111"></a><font style="display:inline;font-size:10pt;">Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the </font><a name="_cp_text_1_112"></a><font style="display:inline;font-size:10pt;">SEC on April 30, 2014</font><a name="_cp_text_4_113"></a><font style="display:inline;font-size:10pt;">, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated February 5, 2015.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On August 26, 2015, Company entered into a Securities Purchase Agreement (the &#x201C;Purchase Agreement&#x201D;) with Essex Woodlands Fund IX, L.P. (&#x201C;ESSEX&#x201D;) for the purchase of </font><font style="display:inline;font-size:10pt;">4,861,111</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;">, at a public offering price </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">12</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">of </font><font style="display:inline;font-size:10pt;">$3.60</font><font style="display:inline;font-size:10pt;"> per share</font><font style="display:inline;font-size:10pt;"> (the &#x201C;</font><font style="display:inline;font-size:10pt;">A</font><font style="display:inline;font-size:10pt;">ugust 2015 Offering)</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The expenses directly related to </font><font style="display:inline;font-size:10pt;">the August 2015 Offering</font><font style="display:inline;font-size:10pt;"> were </font><font style="display:inline;font-size:10pt;">$300,000 of which $181,000 has been</font><font style="display:inline;font-size:10pt;"> paid by the Company.&nbsp; </font><font style="display:inline;font-size:10pt;">Such e</font><font style="display:inline;font-size:10pt;">xpenses included the Company&#x2019;s legal and accounting fees, printing expenses, transfer agent fees and miscellaneous fees and costs related to the </font><font style="display:inline;font-size:10pt;">August 2015 Offering</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;Proceeds from the </font><font style="display:inline;font-size:10pt;">August 2015 Offering</font><font style="display:inline;font-size:10pt;"> of approximately </font><font style="display:inline;font-size:10pt;">$17.</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;"> million will be used for sales and marketing and general working capital purposes.&nbsp;&nbsp;The Company has provided certain demand and &#x201C;piggy-back&#x201D; registration rights in connection with </font><font style="display:inline;font-size:10pt;">this </font><font style="display:inline;font-size:10pt;">sale of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;">.</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The </font><font style="display:inline;font-size:10pt;">August 2015 </font><font style="display:inline;font-size:10pt;">Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the </font><font style="display:inline;font-size:10pt;">SEC on April 30, 2014</font><font style="display:inline;font-size:10pt;">, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated August 26, 2015.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">10.&nbsp;&nbsp;Commitments and Contingencies</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Commercial Lease</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On April 21, 2015, </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> entered into a </font><font style="display:inline;font-size:10pt;">c</font><font style="display:inline;font-size:10pt;">ommercial </font><font style="display:inline;font-size:10pt;">l</font><font style="display:inline;font-size:10pt;">ease (the &#x201C;New Lease&#x201D;)</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">with Ja-Cole, L.P. </font><font style="display:inline;font-size:10pt;">(&#x201C;Ja-Cole&#x201D;)</font><font style="display:inline;font-size:10pt;">for property located in Burleson, Texas. The New Lease supersedes and replaces a current lease with Ja-Cole. Under the terms of the New Lease, </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> leased an additional </font><font style="display:inline;font-size:10pt;">2,100</font><font style="display:inline;font-size:10pt;"> square feet of warehouse space that will be combined with its current </font><font style="display:inline;font-size:10pt;">5,400</font><font style="display:inline;font-size:10pt;"> square feet of warehouse/office space in Burleson, Texas.&nbsp;&nbsp;&nbsp;The New Lease is for a </font><font style="display:inline;font-size:10pt;">three</font><font style="display:inline;font-size:10pt;"> year term expiring April 21, 2018, renewable thereafter by agreement of the parties, at an annual cost of </font><font style="display:inline;font-size:10pt;">$60,000</font><font style="display:inline;font-size:10pt;"> per year.&nbsp;&nbsp;The expanded Burleson facility will house raw material storage and product distribution and allow expansion space as required for </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> operations. </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Processing Agreement</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Under an Amended and Restated Nerve Tissue Processing Agreement (the &#x201C;</font><font style="display:inline;font-size:10pt;">LifeNet </font><font style="display:inline;font-size:10pt;">Agreement&#x201D;) with LifeNet Health</font><font style="display:inline;font-size:10pt;"> (&#x201C;LifeNet&#x201D;)</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">the Company</font><font style="display:inline;font-size:10pt;"> processes and packages Avance&#xAE; Nerve Graft using its employees and equipment located at LifeNet, Virginia Beach, Virginia.&nbsp;&nbsp;As a result of business requirements of LifeNet and their need for additional space</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">on April 16, 2015 </font><font style="display:inline;font-size:10pt;">LifeNet</font><font style="display:inline;font-size:10pt;"> notified </font><font style="display:inline;font-size:10pt;">the Company</font><font style="display:inline;font-size:10pt;"> that it will need to transition out of the Virginia Beach facility on or before February 27, 2016 and therefore is terminating the </font><font style="display:inline;font-size:10pt;">LifeNet </font><font style="display:inline;font-size:10pt;">Agreement effective February 27, </font><font style="display:inline;font-size:10pt;">2016.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">A</font><font style="display:inline;color:#000000;font-size:10pt;">s a result of the termination of the LifeNet Agreement, on August 6, 2015 the Company entered into a License and Services Agreement (the &#x201C;CTS Agreement&#x201D;) with&nbsp;Community Blood Center&nbsp;(d/b/a Community Tissue Services) (&#x201C;CTS&#x201D;) whose headquarters are located in Dayton, Ohio.&nbsp;&nbsp;The CTS facility and CTS Agreement will provide the Company a cost effective, quality controlled and licensed facility&nbsp;to process and package its Avance&#xAE; Nerve Graft using its employees and processing equipment.&nbsp;&nbsp;It is anticipated that processing currently being performed at LifeNet will be transferred completely to the CTS facility by the end of first quarter of 2016&nbsp;&nbsp;It is anticipated that the Company will have approximately $400,000 of capital expenditures for the placement of equipment and build-out at this facility.&nbsp; &nbsp; &nbsp; &nbsp; </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The CTS Agreement is for a </font><font style="display:inline;color:#000000;font-size:10pt;">five</font><font style="display:inline;color:#000000;font-size:10pt;"> year term, subject to earlier termination by either party for cause, or after the </font><font style="display:inline;color:#000000;font-size:10pt;">two</font><font style="display:inline;color:#000000;font-size:10pt;"> year anniversary of the CTS Agreement without cause, upon </font><font style="display:inline;color:#000000;font-size:10pt;">180</font><font style="display:inline;color:#000000;font-size:10pt;"> days&#x2019; notice.&nbsp;Under the CTS Agreement, the Company pays CTS a facility fee for clean room/processing, storage and office space.&nbsp;&nbsp;Under the CTS Agreement, CTS also provides services in support of the Company&#x2019;s processing such as routine sterilization of daily supplies, providing disposable supplies, microbial services and office support.&nbsp;&nbsp;The service fee is based on a per donor batch rate.&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">11.&nbsp;&nbsp;Subsequent Events</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">On November </font><font style="display:inline;color:#000000;font-size:10pt;">4</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015, </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> exercised its option right pursuant to the Development, License &amp; Option Agreement (the &#x201C;Agreement&#x201D;), dated November 3, 2014 made </font><font style="display:inline;color:#000000;font-size:10pt;">by and </font><font style="display:inline;color:#000000;font-size:10pt;">between </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> and Sensory Management Services LLC (&#x201C;SMS&#x201D;).&nbsp;&nbsp;SMS developed and sold a pressure-specified sensory device (&#x201C;PSSD&#x201D;) for use in evaluating patients with peripheral nerve conditions.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> entered into the Agreement to validate and develop an updated PSSD </font><font style="display:inline;color:#000000;font-size:10pt;">to be named</font><font style="display:inline;color:#000000;font-size:10pt;"> the AcroVal&#x2122; Ne</font><font style="display:inline;color:#000000;font-size:10pt;">urosensory &amp; Motor Testing System</font><font style="display:inline;color:#000000;font-size:10pt;"> (the &#x201C;AcroVal&#x2122;&#x201D;) and SMS granted </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> an option pursuant to the Agreement to purchase the assets and technology necessary to own and commercialize the PSSD.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">&#x2019;s validation of the PSSD, and development of the AcroVal&#x2122;, were positive</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> leading to the exercise of the option and acquisition of the rights and assets related to the PSSD. </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">13</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> intends to launch the AcroVal&#x2122; in</font><font style="display:inline;color:#000000;font-size:10pt;"> the</font><font style="display:inline;color:#000000;font-size:10pt;"> first quarter of 2016 through its current sales channel. Evaluating patients with peripheral nerve conditions is essential to confirming diagnosis, mapping a course of action and monitoring post-intervention results. Although </font><font style="display:inline;color:#000000;font-size:10pt;">examiners of</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral nerves have many </font><font style="display:inline;color:#000000;font-size:10pt;">assessment </font><font style="display:inline;color:#000000;font-size:10pt;">options, there is little consistency on measurement protocols. With the AcroVal&#x2122; Ne</font><font style="display:inline;color:#000000;font-size:10pt;">urosensory &amp; Motor Testing System</font><font style="display:inline;color:#000000;font-size:10pt;">, &nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">AC anticipates that </font><font style="display:inline;color:#000000;font-size:10pt;">examiners will have digital, less subjective results for their patients with conditions </font><font style="display:inline;color:#000000;font-size:10pt;">such as</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral neuropathy, nerve compression syndromes, and transected nerves. Ultimately, standardization of assessment techniques will facilitate comparison and interpretation of clinical results leading to better understanding and care for patients with pe</font><font style="display:inline;color:#000000;font-size:10pt;">ripheral nerve conditions.</font>
		</p>
		<p style="margin:0pt;text-indent:24.5pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Upon exercise of the option </font><font style="display:inline;color:#000000;font-size:10pt;">AC </font><font style="display:inline;color:#000000;font-size:10pt;">paid a fee of </font><font style="display:inline;color:#000000;font-size:10pt;">$15,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and is obligated to pay</font><font style="display:inline;color:#000000;font-size:10pt;"> prior development fees owed by SMS o</font><font style="display:inline;color:#000000;font-size:10pt;">f up to</font><font style="display:inline;color:#000000;font-size:10pt;"> $39,500</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">Commencing November 4, 2015 and for a </font><font style="display:inline;color:#000000;font-size:10pt;">ten</font><font style="display:inline;color:#000000;font-size:10pt;"> year period, AC</font><font style="display:inline;color:#000000;font-size:10pt;"> will also pay to SMS a </font><font style="display:inline;color:#000000;font-size:10pt;">15%</font><font style="display:inline;color:#000000;font-size:10pt;"> royalty on sales of AcroVal&#x2122; and </font><font style="display:inline;color:#000000;font-size:10pt;">AC </font><font style="display:inline;color:#000000;font-size:10pt;">will provide SMS an AcroVal&#x2122; instrument, with upgrades</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> for </font><font style="display:inline;color:#000000;font-size:10pt;">10</font><font style="display:inline;color:#000000;font-size:10pt;"> years, without cost.&nbsp;&nbsp;The </font><font style="display:inline;color:#000000;font-size:10pt;">SMS </font><font style="display:inline;color:#000000;font-size:10pt;">Agreement also provides for certain payments in the event that certain milestones are obtained during the royalty term.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, as a result of</font><font style="display:inline;color:#000000;font-size:10pt;"> such option</font><font style="display:inline;color:#000000;font-size:10pt;"> exercise, </font><font style="display:inline;color:#000000;font-size:10pt;">now </font><font style="display:inline;color:#000000;font-size:10pt;">has ownership of all necessary technology, information and know-how necessary for its commercialization of the AcroVal&#x2122;. </font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
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		<p style="margin:0pt 0pt 10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
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		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">14</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 2 &#x2013; MANAGEMENT&#x2019;S DISCUSSIO</font><a name="ITEM2MANAGEMENTSDISCUSSION_688259"></a><font style="display:inline;font-weight:bold;font-size:10pt;">N AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Unless the context otherwise requires, all references in this report to &#x201C;AxoGen,&#x201D; &#x201C;the Company,&#x201D; &#x201C;we,&#x201D; &#x201C;us&#x201D; and &#x201C;our&#x201D; refer to AxoGen, Inc. and its wholly owned subsidiary AxoGen Corporation (&#x201C;AC&#x201D;).</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">OVERVIEW</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen, Inc. (NASDAQ: AXGN) is a leading medical technology company dedicated to peripheral nerve repair. The company has created and licensed a unique combination of patented nerve repair technologies to change the standard of care for patients with peripheral nerve injuries. AxoGen&#x2019;s portfolio of regenerative medicine products is available in the United States, Canada and several other countries and includes</font><font style="display:inline;font-size:10pt;">: (i)</font><font style="display:inline;font-size:10pt;"> Avance&#xAE; Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with an additional surgical site</font><font style="display:inline;font-size:10pt;">; (ii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Connector, a porcine submucosa extracellular matrix (&#x201C;ECM&#x201D;) coaptation aid for tensionless repair of severed nerves</font><font style="display:inline;font-size:10pt;">; (iii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments</font><font style="display:inline;font-size:10pt;">;</font><font style="display:inline;font-size:10pt;"> and</font><font style="display:inline;font-size:10pt;"> (iv)</font><font style="display:inline;font-size:10pt;"> the AxoTouch&#x2122; Two-Point Discriminator, a tool useful for measuring sensation after a nerve injury, following the progression of a repaired nerve, and during the evaluation of a person with a possible nerve injury, such as nerve division or nerve compression. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Revenue from the distribution of these products is the main contributor to AxoGen&#x2019;s total reported sales and has been the key component of its growth to date. AxoGen revenues increased in the first </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months</font><font style="display:inline;font-size:10pt;"> of 2015 compared to 2014 primarily as a result of sales to new accounts, increased product usage by existing accounts and a price increase effective March 1, 2015. AxoGen has continued to broaden and strengthen its sales and marketing activity with a focus on the execution of its sales operations.&nbsp;&nbsp;This is expected to have a continued positive contribution to its revenue growth in the long term. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Results of Operations</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-style:italic;font-size:10pt;">Comparison of the Three and </font><font style="display:inline;font-style:italic;font-size:10pt;">Nine</font><font style="display:inline;font-style:italic;font-size:10pt;"> Months Ended </font><font style="display:inline;font-style:italic;font-size:10pt;">September</font><font style="display:inline;font-style:italic;font-size:10pt;"> 30</font><font style="display:inline;font-style:italic;font-size:10pt;">, 2015 and 2014</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Revenues</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Revenues for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 increased </font><font style="display:inline;font-size:10pt;">74.6</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">8,154</font><font style="display:inline;font-size:10pt;">,000 as compared to approximately $4,</font><font style="display:inline;font-size:10pt;">671</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;Additionally, revenues for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months</font><font style="display:inline;font-size:10pt;"> ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 increased </font><font style="display:inline;font-size:10pt;">62.4</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">1</font><font style="display:inline;font-size:10pt;">9</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">522</font><font style="display:inline;font-size:10pt;">,000 as compared to approximately $</font><font style="display:inline;font-size:10pt;">12,024</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;This increase was primarily a result of increased product usage by existing accounts and sales to new accounts.&nbsp; </font><font style="display:inline;font-size:10pt;">Also contributing to the increase</font><font style="display:inline;font-size:10pt;">, AxoGen recognized approximately $</font><font style="display:inline;font-size:10pt;">1</font><font style="display:inline;font-size:10pt;">1</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">,000 and $57,000 of grant revenue </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively and</font><font style="display:inline;font-size:10pt;"> approximately</font><font style="display:inline;font-size:10pt;"> &nbsp;$</font><font style="display:inline;font-size:10pt;">38</font><font style="display:inline;font-size:10pt;">7</font><font style="display:inline;font-size:10pt;">,000 and $1</font><font style="display:inline;font-size:10pt;">75</font><font style="display:inline;font-size:10pt;">,000 of grant revenue </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Gross Profit</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Gross profit for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 incre</font><font style="display:inline;font-size:10pt;">ased </font><font style="display:inline;font-size:10pt;">78.6</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">6,743</font><font style="display:inline;font-size:10pt;">,000 as compared to approximately $3,</font><font style="display:inline;font-size:10pt;">775</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;Such increase in aggregate dollars was primarily attributable to the increased revenues in the </font><font style="display:inline;font-size:10pt;">third</font><font style="display:inline;font-size:10pt;"> quarter of 2015</font><font style="display:inline;font-size:10pt;">, and to a lesser extent by an improvement in gross margin</font><font style="display:inline;font-size:10pt;">. Gross margin improved to </font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">2.7</font><font style="display:inline;font-size:10pt;">% for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to </font><font style="display:inline;font-size:10pt;">80.8</font><font style="display:inline;font-size:10pt;">% for the same period in 2014 as a result of </font><font style="display:inline;font-size:10pt;">processing</font><font style="display:inline;font-size:10pt;"> efficiencies and favorable product mix</font><font style="display:inline;font-size:10pt;"> as a result of changes both within and between product lines</font><font style="display:inline;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Gross profit for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 increase</font><font style="display:inline;font-size:10pt;">d 6</font><font style="display:inline;font-size:10pt;">8.7</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">16,089</font><font style="display:inline;font-size:10pt;">,000 as compared to approximately $</font><font style="display:inline;font-size:10pt;">9,538</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;Such increase in aggregate dollars was primarily attributable to the increased revenues in the first </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months of 2015, </font><font style="display:inline;font-size:10pt;">and to a lesser extent by an improvement in gross margin</font><font style="display:inline;font-size:10pt;">. Gross margin improved to 82.</font><font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;">% for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 201</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;"> as </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">15</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">compared to 7</font><font style="display:inline;font-size:10pt;">9.3</font><font style="display:inline;font-size:10pt;">% for the same period in 2014 as a result of </font><font style="display:inline;font-size:10pt;">processing</font><font style="display:inline;font-size:10pt;"> efficiencies</font><font style="display:inline;font-size:10pt;"> and changes in product mix</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">as a result of changes both within and between product lines</font><font style="display:inline;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Costs and Expenses</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Tot</font><font style="display:inline;font-size:10pt;">al cost and expenses increased </font><font style="display:inline;font-size:10pt;">55.3</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">8,661</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $5,</font><font style="display:inline;font-size:10pt;">578</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. These increases were primarily due to increased sales and marketing activities</font><font style="display:inline;font-size:10pt;"> and costs associated with increased revenue,</font><font style="display:inline;font-size:10pt;"> along with an increase in </font><font style="display:inline;font-size:10pt;">employee compensation expenses and </font><font style="display:inline;font-size:10pt;">research and development </font><font style="display:inline;font-size:10pt;">costs </font><font style="display:inline;font-size:10pt;">as the Company </font><font style="display:inline;font-size:10pt;">enrolls patients in</font><font style="display:inline;font-size:10pt;"> its clinical trial</font><font style="display:inline;font-size:10pt;"> for the Avance&#xA9; Nerve Graft</font><font style="display:inline;font-size:10pt;">.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Tot</font><font style="display:inline;font-size:10pt;">al cost and expenses increased </font><font style="display:inline;font-size:10pt;">36.5</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">22,704</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">16,630</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. These increases were primarily due to increasing sales and marketing activities </font><font style="display:inline;font-size:10pt;">and costs associated with increased revenue, </font><font style="display:inline;font-size:10pt;">along with</font><font style="display:inline;font-size:10pt;"> increases in </font><font style="display:inline;font-size:10pt;">employee </font><font style="display:inline;font-size:10pt;">compensation</font><font style="display:inline;font-size:10pt;">. &nbsp;</font><font style="display:inline;font-size:10pt;">T</font><font style="display:inline;font-size:10pt;">hese increases were also </font><font style="display:inline;font-size:10pt;">attributable to</font><font style="display:inline;font-size:10pt;"> facility costs and research and development costs associated with the Company&#x2019;s preparation for</font><font style="display:inline;font-size:10pt;">, and start of,</font><font style="display:inline;font-size:10pt;"> its clinical trial</font><font style="display:inline;font-size:10pt;"> for </font><font style="display:inline;font-size:10pt;">Avance&#xAE; Nerve Graft</font><font style="display:inline;font-size:10pt;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Sales an</font><font style="display:inline;font-size:10pt;">d marketing expenses increased </font><font style="display:inline;font-size:10pt;">69.6</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">5,513</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">3,251</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. This increase was primarily due to</font><font style="display:inline;font-size:10pt;"> the costs associated with the continued</font><font style="display:inline;font-size:10pt;"> expansion of our direct sales force</font><font style="display:inline;font-size:10pt;"> and surgeon education programs</font><font style="display:inline;font-size:10pt;">, and </font><font style="display:inline;font-size:10pt;">to a lesser extent </font><font style="display:inline;font-size:10pt;">increased support for both our direct sales force and independent distributors</font><font style="display:inline;font-size:10pt;"> and marketing research and activity with respect to new products and markets</font><font style="display:inline;font-size:10pt;">. As a percentage of revenues, sal</font><font style="display:inline;font-size:10pt;">es and marketing expenses were </font><font style="display:inline;font-size:10pt;">6</font><font style="display:inline;font-size:10pt;">7</font><font style="display:inline;font-size:10pt;">.6</font><font style="display:inline;font-size:10pt;">% for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 compared to </font><font style="display:inline;font-size:10pt;">6</font><font style="display:inline;font-size:10pt;">9.6% for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. Such lower sales and marketing expenses as a percentage of revenue were a result of the revenue increase outpacing increases in costs and expenses.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Sales an</font><font style="display:inline;font-size:10pt;">d marketing expenses increased </font><font style="display:inline;font-size:10pt;">52.8</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">14,257</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">9,327</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. This increase was primarily due to </font><font style="display:inline;font-size:10pt;">the costs associated with the continued</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">expansion of the direct sales force</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">and surgeon education programs</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">and to a lesser extent </font><font style="display:inline;font-size:10pt;">increased support for both AxoGen&#x2019;s direct sales force and independent distributors. As a percentage of revenues, sal</font><font style="display:inline;font-size:10pt;">es and marketing expenses were 7</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">.</font><font style="display:inline;font-size:10pt;">0</font><font style="display:inline;font-size:10pt;">% for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 compared to </font><font style="display:inline;font-size:10pt;">77</font><font style="display:inline;font-size:10pt;">.6% for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. Such lower sales and marketing expenses as a percentage of revenue were a result of the revenue increase outpacing increases in costs and expenses.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">General and administrative expenses </font><font style="display:inline;font-size:10pt;">increased </font><font style="display:inline;font-size:10pt;">34.4</font><font style="display:inline;font-size:10pt;">%</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">t</font><font style="display:inline;font-size:10pt;">o approximately $</font><font style="display:inline;font-size:10pt;">2,212</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $1,</font><font style="display:inline;font-size:10pt;">646</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. </font><font style="display:inline;font-size:10pt;">Such increase was primarily a result of increased </font><font style="display:inline;font-size:10pt;">expenses related to employee compensation and professional service fees. Also contributing to the rise in expenses</font><font style="display:inline;font-size:10pt;"> but to a much lesser extent</font><font style="display:inline;font-size:10pt;"> was an increase in bad debt allowance to adjust for greater account receivables as revenues increase </font><font style="display:inline;font-size:10pt;">and bank cha</font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">ges </font><font style="display:inline;font-size:10pt;">related to</font><font style="display:inline;font-size:10pt;"> sales activity</font><font style="display:inline;font-size:10pt;"> also increased, offset by a reduction in travel expenses and certain outside service costs</font><font style="display:inline;font-size:10pt;">.&nbsp; </font><font style="display:inline;font-size:10pt;">As a percentage of revenues, general an</font><font style="display:inline;font-size:10pt;">d administrative expenses were </font><font style="display:inline;font-size:10pt;">27.1</font><font style="display:inline;font-size:10pt;">% for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to </font><font style="display:inline;font-size:10pt;">35.2</font><font style="display:inline;font-size:10pt;">% for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. Such lower general and administrative expenses as a percentage of revenue were a result of the revenue increase outpacing increases in costs and expenses.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">General and adm</font><font style="display:inline;font-size:10pt;">inistrative expenses increased </font><font style="display:inline;font-size:10pt;">16</font><font style="display:inline;font-size:10pt;">.</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">6,103</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">254</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. The increase was primarily a result of increased </font><font style="display:inline;font-size:10pt;">expenses related to employee compensation</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;Bank cha</font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">ges related to sales activity also i</font><font style="display:inline;font-size:10pt;">ncreased, as did bad debt allowance to adjust for greater account receivables as revenues increased</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;As a percentage of revenues, general an</font><font style="display:inline;font-size:10pt;">d administrative expenses were 3</font><font style="display:inline;font-size:10pt;">1</font><font style="display:inline;font-size:10pt;">.</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">% for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to 4</font><font style="display:inline;font-size:10pt;">3.7</font><font style="display:inline;font-size:10pt;">% for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. Such lower general and administrative expenses as a percentage of revenue were a result of the revenue increase outpacing increases in costs and expenses.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Research and development expenses </font><font style="display:inline;font-size:10pt;">increased approximately 3</font><font style="display:inline;font-size:10pt;">7</font><font style="display:inline;font-size:10pt;">.4</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">936</font><font style="display:inline;font-size:10pt;">,000 </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">681</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp; </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">16</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">Research and de</font><font style="display:inline;font-size:10pt;">velopment costs increased </font><font style="display:inline;font-size:10pt;">14.3</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">343</font><font style="display:inline;font-size:10pt;">,000 </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">050</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;Research and development </font><font style="display:inline;font-size:10pt;">costs </font><font style="display:inline;font-size:10pt;">include AxoGen&#x2019;s product development</font><font style="display:inline;font-size:10pt;"> and</font><font style="display:inline;font-size:10pt;"> clinical efforts substantially focused on its biological license application (&#x201C;BLA&#x201D;) for the Avance&#xAE; Nerve Graft. This activity varies from quarter to quarter due to the timing of certain projects.&nbsp;&nbsp;A substantial portion of the </font><font style="display:inline;font-size:10pt;">increase in expenses for the three and nine months ended September 30, 2015</font><font style="display:inline;font-size:10pt;">, relate to expenditures for such clinical activity including preparation for</font><font style="display:inline;font-size:10pt;">, and</font><font style="display:inline;font-size:10pt;"> the start of</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">pivotal clinical trial to support the</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">BLA</font><font style="display:inline;font-size:10pt;">, and hiring additional personal to support both clinical and product development activity</font><font style="display:inline;font-size:10pt;">, offset by reduced costs of its RANGER Registry and certain projects that have been completed or are near completion</font><font style="display:inline;font-size:10pt;">. &nbsp;</font><font style="display:inline;font-size:10pt;">It is expected that costs associated with the BLA will continue to increase as more patients are enrolled in the trial over approximately the next two years.&nbsp; </font><font style="display:inline;font-size:10pt;">Although AxoGen&#x2019;s products are developed for sale in their current use, it does conduct limited research and product development efforts focused on new products and new applications to existing products.&nbsp;&nbsp;AxoGen </font><font style="display:inline;font-size:10pt;">is</font><font style="display:inline;font-size:10pt;"> active in pursuing research grants to support this research.&nbsp;&nbsp;This AxoGen product pipeline development also contributed to a portion of the research and development expenses in 2015, with grant revenue offsetting a portion of this activity.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Other Income and Expenses</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Interest expense decreased 2</font><font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;">.</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">1,</font><font style="display:inline;font-size:10pt;">0</font><font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $1,3</font><font style="display:inline;font-size:10pt;">80</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 20</font><font style="display:inline;font-size:10pt;">14. Interest expense decreased 2</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">.8</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">,0</font><font style="display:inline;font-size:10pt;">61</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">964</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;This decrease was due to the difference in the interest related to the Revenue Interest Agreement with Three Peaks as compared to the interest related to the Royalty Contract and the interest accrued related to PDL.&nbsp;&nbsp;As a result of the accounting treatment for the Three Peaks and the PDL transaction</font><font style="display:inline;font-size:10pt;">s</font><font style="display:inline;font-size:10pt;">, interest expense included approximately $</font><font style="display:inline;font-size:10pt;">743</font><font style="display:inline;font-size:10pt;">,000 and $</font><font style="display:inline;font-size:10pt;">890</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively, and approximately $</font><font style="display:inline;font-size:10pt;">1,111</font><font style="display:inline;font-size:10pt;">,000 and $</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">09</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively, of non-cash expense that is based upon the terms of the Three Peaks and PDL transactions and increases in AxoGen revenues. Other than the $</font><font style="display:inline;font-size:10pt;">1,111</font><font style="display:inline;font-size:10pt;">,000 and $</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">09</font><font style="display:inline;font-size:10pt;">,000 non-cash expense, the remaining $</font><font style="display:inline;font-size:10pt;">1,</font><font style="display:inline;font-size:10pt;">9</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">0,000 and $</font><font style="display:inline;font-size:10pt;">1,</font><font style="display:inline;font-size:10pt;">155</font><font style="display:inline;font-size:10pt;">,000 in interest expense for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively, is related to cash paid for interest on the Term Loan Agreement and note payable.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Interest expense&#x2014;defe</font><font style="display:inline;font-size:10pt;">rred financing costs decreased 4</font><font style="display:inline;font-size:10pt;">3.6</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">31</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $5</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">,000 for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. Interest expense&#x2014;defe</font><font style="display:inline;font-size:10pt;">rred financing costs decreased 3</font><font style="display:inline;font-size:10pt;">9.</font><font style="display:inline;font-size:10pt;">6</font><font style="display:inline;font-size:10pt;">% to approximately $</font><font style="display:inline;font-size:10pt;">96</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to approximately $1</font><font style="display:inline;font-size:10pt;">59</font><font style="display:inline;font-size:10pt;">,000 for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014.&nbsp;&nbsp;&nbsp;This decrease is primarily due to lower deferred financing cost amortization associated with the </font><font style="display:inline;font-size:10pt;">Revenue Interest Agreement</font><font style="display:inline;font-size:10pt;"> as compared to the </font><font style="display:inline;font-size:10pt;">Royalty Contract</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;Additionally, the deferred financing fees associated with the </font><font style="display:inline;font-size:10pt;">Revenue Interest A</font><font style="display:inline;font-size:10pt;">greement are spread out over 10 years compared to 8 years for the </font><font style="display:inline;font-size:10pt;">Royalty Contract</font><font style="display:inline;font-size:10pt;">.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Income Taxes</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company had no income tax expenses or income tax benefit for each of the three months and </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014 due to incurrence of net operating loss in each of these periods.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Effect of Inflation</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Inflation has not had a significant impact on the Company&#x2019;s operations or cash flow.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Liquidity and Capital Resources</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Note Payable</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On October 5, 2012, AxoGen entered into a Revenue Interests Purchase Agreement (the &#x201C;Royalty Contract&#x201D;) with PDL BioPharma, Inc. (&#x201C;PDL&#x201D;), pursuant to which the Company sold to PDL the right to receive royalties equal to 9.95% of the Company&#x2019;s Net Revenues (as defined in the Royalty Contract) generated by the sale, distribution or other use of AxoGen&#x2019;s products Avance&#xAE; Nerve Graft, AxoGuard&#xAE; Nerve Connector and AxoGuard&#xAE; Nerve Protector.&nbsp;&nbsp;The Royalty Contract had a term of eight years. Under the Royalty Contract, PDL received royalty payments based on a </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">17</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">royalty rate of 9.95% of the Company&#x2019;s Net Revenues, subject to certain agreed upon minimum payment requirements, which were anticipated to be approximately $1.3</font><font style="display:inline;font-size:10pt;"> million</font><font style="display:inline;font-size:10pt;"> to $2.5 million per quarter to begin in the fourth quarter of 2014 through the third quarter of 2020 as provided in the Royalty Contract. The Company recorded interest using its best estimate of the effective interest rate accruing interest using the specified internal rate of return of the Put Option of 20%.&nbsp;&nbsp;The total consideration PDL paid to the Company was $20,800,000 (the &#x201C;Funded Amount&#x201D;), which included $19,050,000 PDL paid to the Company on October 5, 2012, and $1,750,000 PDL paid to the Company on August 14, 2012 pursuant to an Interim Revenue Interest Purchase Agreement between the Company and PDL, dated August 14, 2012 (the &#x201C;Interim Royalty Contract&#x201D;). Upon the closing of PDL&#x2019;s purchase of the specified royalties described above, which was concurrent with the execution of the Royalty Contract, the Interim Royalty Contract was terminated. On November 12, 2014, the Company paid PDL $30.3 million to fully extinguish the Royalty Contract.&nbsp;&nbsp;The Company has no further obligations under the Royalty Contract. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">As a result of the accounting treatment for the PDL transaction, interest expense for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014 included approximately $</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">09</font><font style="display:inline;font-size:10pt;">,000 of non-cash expense that was to be paid in the future based upon the terms of the PDL transaction and increases in AxoGen revenues. The $</font><font style="display:inline;font-size:10pt;">2,8</font><font style="display:inline;font-size:10pt;">09</font><font style="display:inline;font-size:10pt;">,000 of non-cash expense was derived from taking the effective interest on the put in 2014 on the PDL agreement less the actual cash payment made to PDL for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months.&nbsp;&nbsp;Other than the $</font><font style="display:inline;font-size:10pt;">2,8</font><font style="display:inline;font-size:10pt;">09</font><font style="display:inline;font-size:10pt;">,000 non-cash expense, the remaining $</font><font style="display:inline;font-size:10pt;">1,</font><font style="display:inline;font-size:10pt;">155</font><font style="display:inline;font-size:10pt;">,000 in interest expense for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014 is related to cash paid for interest on the note payable with PDL. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On November 12, 2014, the Company sold 643,382 shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> for a total of $1.75 million to PDL (&#x201C;PDL Equity Sale&#x201D;) at a price of $2.72 per share pursuant to a </font><font style="display:inline;font-size:10pt;">s</font><font style="display:inline;font-size:10pt;">ecurities </font><font style="display:inline;font-size:10pt;">p</font><font style="display:inline;font-size:10pt;">urchase </font><font style="display:inline;font-size:10pt;">a</font><font style="display:inline;font-size:10pt;">greement by and between the Company and PDL.&nbsp;&nbsp;The Company intends to use the proceeds from the PDL Equity Sale for general corporate purposes.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Term Loan Agreement and Revenue Interest Agreement</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On the Signing Date, AxoGen, as borrower, and AC, as guarantor, entered into the Term Loan Agreement with the lenders party thereto and Three Peaks , as administrative and collateral agent for the lenders</font><font style="display:inline;font-size:10pt;"> party thereto</font><font style="display:inline;font-size:10pt;">. Under the Term Loan Agreement, Three Peaks has agreed to lend to AxoGen the Initial Term Loan which has a six year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at 9.00% per annum plus the greater of LIBOR or 1.0% which as of the Initial Closing Date resulted in a 10% </font><font style="display:inline;font-size:10pt;">interest </font><font style="display:inline;font-size:10pt;">rate. Under certain conditions, AxoGen has the option to draw an additional $7 million </font><font style="display:inline;font-size:10pt;">as a </font><font style="display:inline;font-size:10pt;">Subsequent Borrowing during the period of April 1, 2016 through </font><font style="display:inline;font-size:10pt;">June</font><font style="display:inline;font-size:10pt;"> 29, 2016 under similar terms and conditions. AxoGen has to maintain certain covenants including limiting new indebtedness, restriction of the payment of dividends and maintain certain levels of revenue. Three Peaks has a first perfected security interest in the assets of AxoGen.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In addition, AxoGen entered into a 10 year Revenue Interest Agreement with Three Peaks. Royalty payments are based on a royalty rate of 3.75% of AxoGen&#x2019;s revenues up to a maximum of $30 million in revenues in any 12 month period. In the event the Subsequent Borrowing is drawn, the royalty rate increases proportionally up to a maximum of 4.80%. AxoGen has to maintain certain covenants including those covenants under the Term Loan.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Under the Term Loan Agreement, AxoGen has the option at any time to prepay the Term Loan, in whole or in part, and the Royalty Interest Agreement by making the following payment, and Three Peaks has the right to demand the following payment upon a change of control of AxoGen, sale of the majority of AxoGen&#x2019;s assets or a material adverse change to AxoGen: (i) on or prior to the first anniversary of the applicable Closing Date, 120% of the outstanding principal amount of the Term Loan or any portion being prepaid; (ii) after the first anniversary but no later than the second anniversary of the applicable Closing Date, 135% of the outstanding principal amount of the Term Loan or any portion being prepaid; (iii) after the second anniversary but no later than the third anniversary of the applicable Closing Date, 150% of the outstanding principal amount of the Term Loan or any portion being prepaid; or (iv) after the third anniversary of the applicable Closing Date, an amount generating an </font><font style="display:inline;font-size:10pt;">i</font><font style="display:inline;font-size:10pt;">nternal </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">ate of </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">eturn of 16.25% of the outstanding principal amount of the Term Loan or any portion being prepaid. In all cases, the amount due is reduced by the sum of interest and principal previously paid and all amounts received under the Revenue Interest Agreement. In each such case AxoGen will also owe an additional 3% of the originally advanced Term Loan amount. Upon payment to Three Peaks, AxoGen would have no further obligations to Three Peaks under the Term Loan or the Revenue Interest Agreement.</font>
		</p>
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		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">18</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

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</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">In connection with the Term Loan Agreement, on the Signing Date, the Company and AC entered into </font><font style="display:inline;font-size:10pt;">the</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Security Agreement with Three Peaks, pursuant to which each of the Company and AC grants to Three Peaks a security interest in certain collateral as specified in the Security Agreement to guarantee the payment in full when due of the </font><font style="display:inline;font-size:10pt;">s</font><font style="display:inline;font-size:10pt;">ecured </font><font style="display:inline;font-size:10pt;">o</font><font style="display:inline;font-size:10pt;">bligations.</font><font style="display:inline;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:10pt;">In the event of default per the terms of the Term Loan Agreement Three Peaks would have the ability to foreclose on the pledged collateral and the Company and AC would not be able to continue its current business if such foreclosure occurred.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Also in connection with the above transaction, the Company sold 1,375,969 shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> to Three Peaks for a total of $3.55 million at a price of $2.58 per share.&nbsp;&nbsp;Pursuant to the equity purchase provisions in the Three Peaks Term Loan Agreement, in the event that prior to November 12, 2016 </font><font style="display:inline;font-size:10pt;">we sell </font><font style="display:inline;font-size:10pt;">our securities at a lower price per share than the $2.58 per share paid by Three Peaks, or where the terms of such subsequent sale are otherwise more favorable, then in such case we have agreed to match the more favorable terms of such subsequent sale with respect to the shares purchased by Three Peaks. A subsequent sale does not include the issuance of securities or options to our employees, officers, directors or consultants pursuant to our approved employee option pool or any other employee stock purchase or option plan existing as of November 12, 2014.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">As a result of the accounting treatment for the Three Peaks transaction, interest expense for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 included approximately $</font><font style="display:inline;font-size:10pt;">1,111</font><font style="display:inline;font-size:10pt;">,000 of non-cash expense that is expected to be paid in the future based upon the terms of the Three Peaks transaction and increases in AxoGen revenues. The $</font><font style="display:inline;font-size:10pt;">1,111</font><font style="display:inline;font-size:10pt;">,000 of non-cash expense was derived from taking the imputed interest on the </font><font style="display:inline;font-size:10pt;">Revenue Interest Agreement</font><font style="display:inline;font-size:10pt;"> less the actual cash payment made to Three Peaks for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months.&nbsp;&nbsp;Other than the $</font><font style="display:inline;font-size:10pt;">1,111</font><font style="display:inline;font-size:10pt;">,000 non-cash expense, the remaining $</font><font style="display:inline;font-size:10pt;">1,</font><font style="display:inline;font-size:10pt;">9</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">0,000 in interest expense for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 is related to cash paid for interest on the Term Loan with Three Peaks.</font>
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		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company records interest using its best estimate of the effective interest rate.&nbsp;&nbsp;This estimate takes into account both the rate on the Term Loan Agreement and the rate associated with the 10 year Revenue Interest Agreement with Three Peaks.&nbsp;&nbsp;The effective interest rate is based on actual payments to date, projected future revenues and the projected royalty payments and the quarterly interest payments due on the Term Loan Agreement.&nbsp;&nbsp;From time to time, AxoGen will reevaluate the expected cash flows and may adjust the effective interest rate.&nbsp;&nbsp;Determining the effective interest rate requires judgment and is based on significant assumptions related to estimates of the amounts and timing of future revenue streams.&nbsp;&nbsp;Determination of these assumptions is highly subjective and different assumptions could lead to materially different outcomes. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company had no material commitments for capital expenditures at </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.</font><font style="display:inline;font-size:10pt;"> However, </font><font style="display:inline;color:#000000;font-size:10pt;">it is anticipated that the Company will have approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$400,000</font><font style="display:inline;color:#000000;font-size:10pt;"> of capital expenditures for the placement of equipment and build-out at CTS over the next two quarters.</font>
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		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Public Offering of Common Stock</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On February 5, 2015, AxoGen entered into </font><a name="_cp_text_1_255"></a><font style="display:inline;font-size:10pt;">an underwriting</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">agreement with the Underwriter</font><font style="display:inline;font-size:10pt;"> in connection with the </font><a name="_cp_text_1_259"></a><font style="display:inline;font-size:10pt;">February 2015 Offering</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The Company also granted to the Underwriter a 30-day option to purchase up to an aggregate of 709,200 additional </font><a name="_cp_text_1_260"></a><font style="display:inline;font-size:10pt;">shares of</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Common </font><a name="_cp_text_1_262"></a><font style="display:inline;font-size:10pt;">Stock</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">to cover over-allotments, if any. </font><a name="_cp_text_2_268"></a>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">As of February 13, 2015, the </font><a name="_cp_text_1_269"></a><font style="display:inline;font-size:10pt;">February 2015</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Offering was completed with the sale of 5,437,200 </font><a name="_cp_text_1_270"></a><font style="display:inline;font-size:10pt;">shares of</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Common </font><a name="_cp_text_1_272"></a><font style="display:inline;font-size:10pt;">Stock</font><font style="display:inline;font-size:10pt;">, which included the </font><a name="_cp_text_1_273"></a><font style="display:inline;font-size:10pt;">full</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">exercise of the over-allotment option, at $2.75 per share</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;"> resulting in gross proceeds to AxoGen from the </font><a name="_cp_text_1_274"></a><font style="display:inline;font-size:10pt;">February 2015</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Offering of approximately $15.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately $1.4 million. The </font><a name="_cp_text_1_275"></a><font style="display:inline;font-size:10pt;">shares of</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Common </font><a name="_cp_text_1_277"></a><font style="display:inline;font-size:10pt;">Stock</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">were listed on the NASDAQ Capital Market.</font><a name="_cp_text_1_278"></a><font style="display:inline;font-size:10pt;"> &nbsp;The February 2015 </font><a name="_cp_text_4_279"></a><font style="display:inline;font-size:10pt;">Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the </font><a name="_cp_text_1_280"></a><font style="display:inline;font-size:10pt;">SEC on April 30, 2014</font><a name="_cp_text_4_281"></a><font style="display:inline;font-size:10pt;">, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated February 5, 2015.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">19</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;color:#000000;font-size:10pt;">On August 26, 2015, the Company entered into the Purchase Agreement </font><a name="_cp_text_1_282"></a><font style="display:inline;color:#000000;font-size:10pt;">with ESSEX</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">for the purchase of 4,861,111 shares of </font><a name="_cp_text_1_284"></a><font style="display:inline;color:#000000;font-size:10pt;">Common Stock</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">at a public offering price of $3.60 per share</font><a name="_cp_text_1_285"></a><font style="display:inline;color:#000000;font-size:10pt;">, raising approximately $17.5 million in gross proceeds</font><font style="display:inline;color:#000000;font-size:10pt;"> before deducting expenses</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp;&nbsp;The expenses directly related to </font><a name="_cp_text_1_287"></a><font style="display:inline;color:#000000;font-size:10pt;">the August 2015 Offering</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">were approximately $3</font><font style="display:inline;color:#000000;font-size:10pt;">00,000 and </font><a name="_cp_text_1_289"></a><font style="display:inline;color:#000000;font-size:10pt;">were</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">paid</font><font style="display:inline;color:#000000;font-size:10pt;"> or accrued</font><font style="display:inline;color:#000000;font-size:10pt;"> by the Company.&nbsp; </font><a name="_cp_text_1_291"></a><font style="display:inline;color:#000000;font-size:10pt;">Such expenses</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">include the Company&#x2019;s legal and accounting fees, printing expenses, transfer agent fees and miscellaneous fees and costs related to the </font><a name="_cp_text_1_293"></a><font style="display:inline;color:#000000;font-size:10pt;">August 2015 Offering</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp;&nbsp;Proceeds from the </font><a name="_cp_text_1_295"></a><font style="display:inline;color:#000000;font-size:10pt;">August 2015 Offering</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">will be used for sales and marketing and general working capital purposes.</font><a name="_cp_text_1_296"></a><font style="display:inline;color:#000000;font-size:10pt;"> The Company has provided certain demand and &#x201C;piggy-back&#x201D; registration rights in connection with this sale of Common Stock. The August 2015 Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the SEC on April 30, 2014, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated August 26, 2015.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Cash Flow Information</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen had working capital of approximately $</font><font style="display:inline;font-size:10pt;">34.</font><font style="display:inline;font-size:10pt;">47</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">million and a current ratio of </font><font style="display:inline;font-size:10pt;">9.</font><font style="display:inline;font-size:10pt;">41</font><font style="display:inline;font-size:10pt;"> at </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, compared to working capital of $11.97 million and a current ratio of 5.89 at December 31, 2014. The increase in working capital and the current ratio at </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 as compared to December 31, 2014 was primarily due to the&nbsp;&nbsp;February</font><font style="display:inline;font-size:10pt;"> 2015 Offering</font><font style="display:inline;font-size:10pt;"> and the August</font><font style="display:inline;font-size:10pt;"> 2015 Offering</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;In February 2015 AxoGen completed a public offering of 5,437,200 shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> at $2.75 per share resulting in gross proceeds to AxoGen from the offering of approximately $15.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately $1.4 million. </font><font style="display:inline;font-size:10pt;">In August 2015, AxoGen completed the </font><font style="display:inline;font-size:10pt;">August 2015 Offering</font><font style="display:inline;font-size:10pt;"> for the purchase of 4,861,111 shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> at $3.60 per share resulting in gross proceeds to AxoGen from the offering of approximately $17.5 million, before deducting underwriting and other offering expenses </font><font style="display:inline;font-size:10pt;">paid or accrued </font><font style="display:inline;font-size:10pt;">by AxoGen </font><font style="display:inline;font-size:10pt;">of</font><font style="display:inline;font-size:10pt;"> approximately $</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">00,000.&nbsp; </font><font style="display:inline;font-size:10pt;">The Company believes it has sufficient cash resources to meet its liquidity requirements for at least the next 12 months.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen&#x2019;s future capital requirements depend on a number of factors, including, without limitation, continued adoption of our products by surgeons and growth of our revenues, continued expansion and development of our direct sales force, expenses associated with our professional education programs, maintaining our gross margins, expenses related to our facilities for production and distribution of products and general market conditions.&nbsp;&nbsp;&nbsp;AxoGen could face increasing capital needs depending on the extent to which AxoGen is unable to increase revenues.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">If AxoGen needs additional capital in the future, it may raise additional funds through public or private equity offerings, debt financings or from other sources.&nbsp;&nbsp;The sale of additional equity would result in dilution to AxoGen&#x2019;s shareholders. There is no assurance that AxoGen will be able to secure funding on terms acceptable to it, or at all. The increasing need for capital could also make it more difficult to obtain funding through either equity or debt.&nbsp;&nbsp;Should additional capital not become available to AxoGen as needed, AxoGen may be required to take certain action, such as, slowing sales and marketing expansion, delaying regulatory approvals or reducing headcount. </font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">During the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, the Company had a net increase in cash and cash equivalents of approximately $</font><font style="display:inline;font-size:10pt;">21</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">720</font><font style="display:inline;font-size:10pt;">,000 as compared to a net decrease of cash and cash equivalents of approximately $</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">267</font><font style="display:inline;font-size:10pt;">,000 in </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. The Company&#x2019;s principal sources and uses of funds are explained below:</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Cash used in operating activities</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company used approximately $</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">790</font><font style="display:inline;font-size:10pt;">,000 of cash for operating activities </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, as compared to using approximately $</font><font style="display:inline;font-size:10pt;">8</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">019</font><font style="display:inline;font-size:10pt;">,000 of cash for operating activities </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. </font><font style="display:inline;font-size:10pt;">This </font><font style="display:inline;font-size:10pt;">in</font><font style="display:inline;font-size:10pt;">crease in cash used in operating activities is primarily attributable to the increase in accounts </font><font style="display:inline;font-size:10pt;">receivable and inventory accompanied by </font><font style="display:inline;font-size:10pt;">the net loss generated </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, </font><font style="display:inline;font-size:10pt;">offset by the </font><font style="display:inline;font-size:10pt;">increase in our accounts </font><font style="display:inline;font-size:10pt;">payable and accrued expenses.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Cash used for investing activities</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Investing activities for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 used approximately $</font><font style="display:inline;font-size:10pt;">445</font><font style="display:inline;font-size:10pt;">,000 of cash as compared to using approximately $</font><font style="display:inline;font-size:10pt;">382</font><font style="display:inline;font-size:10pt;">,000 of cash </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. This </font><font style="display:inline;font-size:10pt;">in</font><font style="display:inline;font-size:10pt;">crease in use is principally </font><font style="display:inline;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">20</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-size:10pt;">attributable to the non recurrence of purchases of certain fixed assets for the expansion of the headquarters office and the opening of the worldwide distribution facility in Burleson, Texas that occurred in the period in 2014.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;text-decoration:underline;">Cash provided by financing activities</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Financing activities </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 provided approximately $</font><font style="display:inline;font-size:10pt;">3</font><font style="display:inline;font-size:10pt;">0</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;">955</font><font style="display:inline;font-size:10pt;">,000 of cash as compared to providing approximately $13</font><font style="display:inline;font-size:10pt;">5</font><font style="display:inline;font-size:10pt;">,000 of cash </font><font style="display:inline;font-size:10pt;">for</font><font style="display:inline;font-size:10pt;"> the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2014. The increase was due to proceeds received from the February 2015</font><font style="display:inline;font-size:10pt;"> Offering</font><font style="display:inline;font-size:10pt;"> and August 2015</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">Offering</font><font style="display:inline;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Off-Balance Sheet Arrangements</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">AxoGen does not have any off-balance sheet arrangements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt -54pt 10pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 3. </font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">QUANTITATIVE</font><a name="ITEM3QUANTITATIVE_149360"></a><font style="display:inline;font-weight:bold;font-size:10pt;"> AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</font>
		</p>
		<p style="margin:0pt -54pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Not Applicable.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 4. CONTROLS AND PROCEDURE</font><a name="ITEM4CONTROLSANDPROCEDURES_627538"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Evaluation of Disclosure Controls and Procedures</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company maintains &#x201C;disclosure controls and procedures&#x201D; as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the &#x201C;Exchange Act&#x201D;), that are designed to ensure that information required to be disclosed by us in reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission&#x2019;s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, and Board of Directors, as appropriate, to allow timely decisions regarding required disclosure.&nbsp;&nbsp;In designing and evaluating our disclosure controls and procedures, management recognizes that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable assurance of achieving the desired objectives, and we necessarily are required to apply our judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Our management, including our principal executive officer and principal financial officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and concluded that our disclosure controls and procedures were effective.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Changes in Internal Controls Over Financial Reporting</font>
		</p>
		<p style="margin:0pt 0pt 10pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">During the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, there were no changes in the Company&#x2019;s internal control over financial reporting (as defined in Rule 13a-15(f) and 15d&#x2013;15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, the Company&#x2019;s internal control over financial reporting.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">21</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">UNITED STATES</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">PART II &#x2013;OTHER INFORMATION</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 1 &#x2013; Legal Proceeding</font><a name="ITEM1LegalProceedings_746668"></a><font style="display:inline;font-weight:bold;font-size:10pt;">s</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company is not a party to any material litigation as of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 1A&nbsp;&nbsp;- RISK FACTOR</font><a name="ITEM1ARISKFACTORS_405544"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company faces a number of risks and uncertainties.&nbsp;&nbsp;In addition to the other information in this report and the Company&#x2019;s other filings with the </font><font style="display:inline;font-size:10pt;">SEC</font><font style="display:inline;font-size:10pt;">, readers should consider carefully the risk factors discussed in Part I &#x201C;Item 1A. Risk Factors&#x201D; in the Company&#x2019;s Annual Report on Form 10-K as of and for the year ended December 31, 2014.&nbsp;&nbsp;There have been no material changes to these risk factors.&nbsp;&nbsp;If any of these risks actually occur, the Company&#x2019;s business, results of operations or financial condition could be</font><font style="display:inline;font-size:10pt;"> materially adversely affected.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 2&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;UNREGISTERED SALES OF EQUITY</font><a name="ITEM2UNREGISTEREDSALESOFEQUITY_73950"></a><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">SECURITIES AND USE OF PROCEEDS</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">None.&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 3&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;DEFAULTS UPON SENIOR SECURITIE</font><a name="ITEM3DEFAULTSUPONSENIORSECURITIES_621635"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">None.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 4 </font><font style="display:inline;font-weight:bold;font-size:10pt;">- &nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">MINE SAFETY DISCLOSURE</font><a name="ITEM4MINESAFETYDISCLOSURES_174823"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Not Applicable.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 5</font><font style="display:inline;font-weight:bold;font-size:10pt;"> - OTHER INFORMATIO</font><a name="ITEM5OTHERINFORMATION_772080"></a><font style="display:inline;font-weight:bold;font-size:10pt;">N</font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">On November </font><font style="display:inline;color:#000000;font-size:10pt;">4</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015, </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> exercised its option right pursuant to the Development, License &amp; Option Agreement (the &#x201C;Agreement&#x201D;), dated November 3, 2014 made </font><font style="display:inline;color:#000000;font-size:10pt;">by and </font><font style="display:inline;color:#000000;font-size:10pt;">between </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> and Sensory Management Services LLC (&#x201C;SMS&#x201D;).&nbsp;&nbsp;SMS developed and sold a pressure-specified sensory device (&#x201C;PSSD&#x201D;) for use in evaluating patients with peripheral nerve conditions.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> entered into the Agreement to validate and develop an updated PSSD </font><font style="display:inline;color:#000000;font-size:10pt;">to be named</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">the AcroVal&#x2122; </font><font style="display:inline;color:#000000;font-size:10pt;">and SMS granted </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> an option pursuant to the Agreement to purchase the assets and technology necessary to own and commercialize the PSSD.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">&#x2019;s validation of the PSSD, and development of the AcroVal&#x2122;, were positive</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> leading to the exercise of the option and acquisition of the rights and assets related to the PSSD. </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> intends to launch the AcroVal&#x2122; in</font><font style="display:inline;color:#000000;font-size:10pt;"> the</font><font style="display:inline;color:#000000;font-size:10pt;"> first quarter of 2016 through its current sales channel. Evaluating patients with peripheral nerve conditions is essential to confirming diagnosis, mapping a course of action and monitoring post-intervention results. Although </font><font style="display:inline;color:#000000;font-size:10pt;">examiners of</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral nerves have many </font><font style="display:inline;color:#000000;font-size:10pt;">assessment </font><font style="display:inline;color:#000000;font-size:10pt;">options, there is little consistency on measurement</font><font style="display:inline;color:#000000;font-size:10pt;"> protocols. With the AcroVal&#x2122;</font><font style="display:inline;color:#000000;font-size:10pt;">, &nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">AC anticipates that </font><font style="display:inline;color:#000000;font-size:10pt;">examiners will have digital, less subjective results for their patients with conditions </font><font style="display:inline;color:#000000;font-size:10pt;">such as</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral neuropathy, nerve compression syndromes, and transected nerves. Ultimately, standardization of assessment techniques will facilitate comparison and interpretation of clinical results leading to better understanding and care for patients with peripheral nerve conditions. </font>
		</p>
		<p style="margin:0pt;text-indent:24.5pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Upon exercise of the option </font><font style="display:inline;color:#000000;font-size:10pt;">AC </font><font style="display:inline;color:#000000;font-size:10pt;">paid a fee of $15,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">is obligated to pay</font><font style="display:inline;color:#000000;font-size:10pt;"> prior development fees owed by SMS of </font><font style="display:inline;color:#000000;font-size:10pt;">up to </font><font style="display:inline;color:#000000;font-size:10pt;">$39,500</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">Commencing November </font><font style="display:inline;color:#000000;font-size:10pt;">4</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015 and for a ten year period, AC</font><font style="display:inline;color:#000000;font-size:10pt;"> will also pay to SMS a 15% royalty on sales of AcroVal&#x2122; and </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">will provide SMS an AcroVal&#x2122; instrument, with upgrades</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> for 10 years, without cost.&nbsp;&nbsp;The </font><font style="display:inline;color:#000000;font-size:10pt;">SMS </font><font style="display:inline;color:#000000;font-size:10pt;">Agreement also provides for certain payments in the event that certain milestones are obtained during the royalty term.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, as a result of</font><font style="display:inline;color:#000000;font-size:10pt;"> such option</font><font style="display:inline;color:#000000;font-size:10pt;"> exercise, </font><font style="display:inline;color:#000000;font-size:10pt;">now </font><font style="display:inline;color:#000000;font-size:10pt;">has ownership of all necessary technology, information and know-how necessary for its commercialization of the AcroVal&#x2122;. </font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">22</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">ITEM 6&nbsp;&nbsp;- EXHIBIT</font><a name="ITEM6EXHIBITS_283273"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:10.58%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:86.54%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:10.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Exhibit</font><br /><font style="display:inline;font-size:10pt;">Number</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:86.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;3.1 </font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:86.54%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Amended and Restated Bylaws </font><font style="display:inline;font-size:10pt;">(incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on August 26, 2015).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.1</font><font style="display:inline;font-size:10pt;">&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Securities Purchase Agreement, dated as of August 26, 2015, between AxoGen, Inc and Essex Woodlands Fund IX, L.P.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.2</font><font style="display:inline;font-size:10pt;">&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Asset Assignment</font><font style="display:inline;font-size:10pt;"> Agreement, dated November </font><font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;">, 2014 by and between AxoGen Corporation and Sensory Management Services LLC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.3*</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">License and Services Agreement, dated as of August 6, 2015, by and between AxoGen Corporation and Community Blood Center (d/b/a Community Tissue Services).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.4**</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Amendment No. 2 to Employment Agreement, dated as of August 6, 2015, by and between Greg</font><font style="display:inline;color:#000000;font-size:11pt;">ory G.</font><font style="display:inline;color:#000000;font-size:11pt;"> Freitag and AxoGen, Inc.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">31.1&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">31.2&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification of Principle Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">32&#x2020;&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification Pursuant to 18 U.S.C. &#xA7;1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.INS</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Instance Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.SCH</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Schema Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.CAL</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Calculation Linkbase Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.DEF</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Definition Linkbase Document.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.LAB</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Extension Labels Linkbase.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:10.58%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.PRE</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:02.88%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:86.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Presentation Linkbase Document.</font></p>
				</td>
			</tr>
		</table></div>
		<hr style="border-width:0;width:100%;height:1.5pt;color:#000;background-color:#000;" align="center"></hr>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">* &nbsp;</font><font style="display:inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display:inline;font-size:10pt;">Confidential treatment has been requested as to certain portions, which portions have been omitted and filed separately with the Securities and Exchange Commission.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">**&nbsp;&nbsp;&nbsp;Management contract or compensatory plan or arrangement.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&#x2020;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed herewith.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&#x2020;&#x2020;&nbsp;&nbsp;&nbsp;Furnished herewith.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">23</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">SIGNATURE</font><a name="SIGNATURES_969038"></a><font style="display:inline;font-weight:bold;font-size:10pt;">S</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.32%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:45.14%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">AXOGEN, INC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Dated </font><font style="display:inline;font-size:10pt;">November 5</font><font style="display:inline;font-size:10pt;">, 2015</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Chief Executive Officer</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">(Principal Executive Officer)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">/s/ </font><font style="display:inline;font-size:10pt;">Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Chief Financial Officer</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:33.32%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:21.54%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:45.14%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">(Principal Financial and Accounting Officer)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">24</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><div style="width:100%">

		<p style="margin:0pt 0pt 30pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">

			<a href="#Toc"><font style="display:inline;color:#0563C1;font-size:10pt;">Table of Contents</font></a><font style="display:inline;color:#0563C1;font-size:10pt;">&nbsp;</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;"><font style="display:inline;font-weight:bold;font-size:10pt;">EXHIBIT INDEX</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:11.94%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:84.60%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:11.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Exhibit</font><br /><font style="display:inline;font-size:10pt;">Number</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:84.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:11.94%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:84.60%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;3.1 </font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Amended and Restated Bylaws </font><font style="display:inline;font-size:10pt;">(incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed on August 26, 2015).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.1</font><font style="display:inline;font-size:10pt;">&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Securities Purchase Agreement, dated as of August 26, 2015, between AxoGen, Inc and Essex Woodlands Fund IX, L.P.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.2</font><font style="display:inline;font-size:10pt;">&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Asset Assignment</font><font style="display:inline;font-size:10pt;"> Agreement, dated November </font><font style="display:inline;font-size:10pt;">4</font><font style="display:inline;font-size:10pt;">, 2014 by and between AxoGen Corporation and Sensory Management Services LLC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.3*</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">License and Services Agreement, dated as of August 6, 2015, by and between AxoGen Corporation and Community Blood Center (d/b/a Community Tissue Services).</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">10.4**</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;color:#000000;font-size:11pt;">Amendment No. 2 to Employment Agreement, dated as of August 6, 2015, by and between Greg</font><font style="display:inline;color:#000000;font-size:11pt;">ory G.</font><font style="display:inline;color:#000000;font-size:11pt;"> Freitag and AxoGen, Inc.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">31.1&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">31.2&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification of Principle Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">32&#x2020;&#x2020;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Certification Pursuant to 18 U.S.C. &#xA7;1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.INS</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Instance Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.SCH</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Schema Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.CAL</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Calculation Linkbase Document. </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.DEF</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Definition Linkbase Document.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.LAB</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Extension Labels Linkbase.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:11.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">101.PRE</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:03.46%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:84.60%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">XBRL Taxonomy Extension Presentation Linkbase Document.</font></p>
				</td>
			</tr>
		</table></div>
		<hr style="border-width:0;width:100%;height:1.5pt;color:#000;background-color:#000;" align="center"></hr>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">* &nbsp;</font><font style="display:inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display:inline;font-size:10pt;">Confidential treatment has been requested as to certain portions, which portions have been omitted and filed separately with the Securities and Exchange Commission.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">**&nbsp;&nbsp;&nbsp;Management contract or compensatory plan or arrangement.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&#x2020;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed</font><font style="display:inline;font-size:10pt;"> herewith.</font>
		</p>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&#x2020;&#x2020;&nbsp;&nbsp;&nbsp;&nbsp;Furnished herewith.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">25</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>axgn-20150930ex101477a56.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<html>
	<head>
		<title>
			axgn_Ex10_1
		</title>
	</head>
	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt;text-align:right;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXHIBIT 10.1</font>
		</p>
		<p style="margin:0pt;text-align:right;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">SECURITIES PURCHASE AGREEMENT</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">This Securities Purchase Agreement (this &#x201C;</font><font style="display:inline;text-decoration:underline;">Agreement</font><font style="display:inline;">&#x201D;) is dated as of August </font><font style="display:inline;">26</font><font style="display:inline;">, 2015, between AxoGen, Inc., a Minnesota corporation (the &#x201C;</font><font style="display:inline;text-decoration:underline;">Company</font><font style="display:inline;">&#x201D;), and </font><font style="display:inline;">Essex Woodlands Fund IX, L.P</font><font style="display:inline;">., a Delaware limited partnership (the &#x201C;</font><font style="display:inline;text-decoration:underline;">Purchaser</font><font style="display:inline;">&#x201D;).</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act of 1933, as amended (the &#x201C;</font><font style="display:inline;text-decoration:underline;">Securities Act</font><font style="display:inline;">&#x201D;), the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, securities of the Company as more fully described in this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">ARTICLE I.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">DEFINITIONS</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">1.1</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;"> Definitions</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this Section 1.1:</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Action</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(j).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Affiliate</font><font style="display:inline;">&#x201D; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Annual Meeting</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 4.6(a).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Base Prospectus</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 3.1(g).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Board</font><font style="display:inline;">&#x201D; means the Company&#x2019;s board of directors.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Business Day</font><font style="display:inline;">&#x201D; means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.</font>
		</p>
		<p style="margin:0pt 0pt 6pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Closing</font><font style="display:inline;">&#x201D; means the closing of the purchase and sale of the Shares pursuant to Section 2.1.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Closing Date</font><font style="display:inline;">&#x201D; means the Trading Day on which this Agreement has been executed and delivered by the parties hereto, and all conditions precedent to (i) the Purchaser&#x2019;s obligations to pay the Subscription Amount and (ii) the Company&#x2019;s obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than the third Trading Day following the date hereof.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Commission</font><font style="display:inline;">&#x201D; means the United States Securities and Exchange Commission.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Common Shares</font><font style="display:inline;">&#x201D; means the common shares of the Company, par value $0.01 per share. </font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Company Counsel</font><font style="display:inline;">&#x201D; means DLA Piper LLP</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">with offices located at</font><font style="display:inline;"> One Liberty Place, </font><font style="display:inline;">1650 Market Street, Suite 4900</font><font style="display:inline;">, &nbsp;</font><font style="display:inline;">Philadelphia, Pennsylvania 19103-7300</font><font style="display:inline;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Exchange Act</font><font style="display:inline;">&#x201D; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Fund Indemnitors</font><font style="display:inline;">&#x201D;</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">shall have the meaning ascribed to such term in Section 4.2(b).</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">GAAP</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(h).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Knowledge</font><font style="display:inline;">,&#x201D; with respect to a party, shall mean the actual knowledge, or that which would or should have been known after reasonable inquiry, of any officer, director or employee of the Company or the Subsidiary relating to a particular matter. </font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Initial Purchaser Designee</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 4.6(a).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Intellectual Property Rights</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(n).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Liens</font><font style="display:inline;">&#x201D; means a lien, charge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Material Adverse Effect</font><font style="display:inline;">&#x201D; shall have the meaning assigned to such term in Section 3.1(b).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Material Permits</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(l).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Per Share Purchase Price</font><font style="display:inline;">&#x201D; means $</font><font style="display:inline;">3.60</font><font style="display:inline;"> per share.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Permitted Lien</font><font style="display:inline;">&#x201D; means those liens existing pursuant to (i) the Term Loan Agreement, dated as of November 12, 2014, by and among the Company, Axogen Corporation, the lenders party thereto and Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;), </font><font style="display:inline;">an indirect wholly-owned subsidiary of Oberland Capital Healthcare Master Fund LP, as administrative and collateral agent for the lenders</font><font style="display:inline;">, and (ii) the Security Agreement, dated as of November 12, 2014, by and among the Company, Axogen Corporation, Three Peaks, as administrative agent and collateral agent for the lenders.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Person</font><font style="display:inline;">&#x201D; means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Proceeding</font><font style="display:inline;">&#x201D; means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Prospectus</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 3.1(g).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Prospectus Supplement</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 3.1(g).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Purchaser Designee</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 4.6(a).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Purchaser Party</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 4.2.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Registration Rights Agreement</font><font style="display:inline;">&#x201D; shall mean that certain Registration Rights Agreement between the Purchaser and the Company, to be dated as of the Closing Date, in substantially the form of </font><font style="display:inline;text-decoration:underline;">Exhibit A</font><font style="display:inline;"> attached hereto, as the same may be amended from time to time. </font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Registration Statement</font><font style="display:inline;">&#x201D; means the effective registration statement with Commission file No. 333-195588 which registers the sale of the Shares (including any registration statement relating to the same offering filed pursuant to Rule 462(b) under the Securities Act to register additional securities).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Required Approvals</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(e).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Rule 424</font><font style="display:inline;">&#x201D; means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">SEC Reports</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in Section 3.1(h).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Securities Act</font><font style="display:inline;">&#x201D; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Shares</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 2.1.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Short Sales</font><font style="display:inline;">&#x201D; means all &#x201C;short sales&#x201D; as defined in Rule 200 of Regulation SHO under the Exchange Act </font><font style="display:inline;color:#000000;">(but shall not be deemed to include the location and/or reservation of borrowable Common Shares)</font><font style="display:inline;">.&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Subscription Amount</font><font style="display:inline;">&#x201D; has the meaning set forth in Section 2.1.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Subsidiary</font><font style="display:inline;">&#x201D; means AxoGen Corporation, a Delaware corporation, which is a wholly owned subsidiary of the Company.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Trading Day</font><font style="display:inline;">&#x201D; means a day on which the NASDAQ Capital Market is open for trading.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Transaction Agreements</font><font style="display:inline;">&#x201D; mean</font><font style="display:inline;">s this Agreement and</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">the </font><font style="display:inline;">Registration Rights Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Transfer</font><font style="display:inline;">&#x201D; means to transfer, sell, convey, contract to sell (including pursuant to any derivative instrument) or otherwise dispose, in each case, for consideration.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Transfer Agent</font><font style="display:inline;">&#x201D; means Wells Fargo Shareholder Services.</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">ARTICLE II.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">PURCHASE AND SALE</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">2.1</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Closing</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution and delivery of the Transaction Agreements by the parties hereto, the Company agrees to sell, and the Purchaser agrees to purchase, the number of Common Shares (the &#x201C;Shares</font><font style="display:inline;color:#000000;">&#x201D;</font><font style="display:inline;color:#000000;">) equal to $</font><font style="display:inline;color:#000000;">17,499,999.60</font><font style="display:inline;color:#000000;"> (the &#x201C;Subscription Amount&#x201D;) divided by the Per Share Purchase Price.&nbsp;&nbsp;The Company shall deliver the Shares to the Purchaser, against payment by the Purchaser of the Subscription Amount by wire transfer of federal (same day) funds to the account specified by the Company to the Purchaser by causing the Transfer Agent to credit the Shares to the account of the Purchaser. The Closing of the purchase of the Shares shall occur at the offices of Company Counsel or such other location as the parties shall mutually agree.</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">2.2</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Deliveries</font><font style="display:inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display:inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser the following:</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display:inline;color:#000000;">(i)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the Transaction Agreements duly executed by the Company;</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:24pt;"><font style="display:inline;color:#000000;">(ii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver on an expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system (&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">DWAC</font><font style="display:inline;color:#000000;">&#x201D;) the Shares registered in the name of the Purchaser;</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(iii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the Prospectus and Prospectus Supplement (which may be deemed delivered pursuant to Rule 172 under the Securities Act) which may be filed with the SEC within two days of the Closing Date; </font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(iv)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">a &nbsp;</font><font style="display:inline;color:#000000;">certificate in form and substance reasonably satisfactory to the</font><font style="display:inline;color:#000000;"> Purchaser</font><font style="display:inline;color:#000000;"> duly executed on behalf of the Company by an authorized executive officer of the Company, certifying that</font><font style="display:inline;color:#000000;"> (A) the</font><font style="display:inline;color:#000000;"> representations and warranties of </font><font style="display:inline;color:#000000;">the Company</font><font style="display:inline;color:#000000;"> contained in Article III shall be true and correct in all respects as of the Closing Date with the same effect as though made at and as of such date (except those representations and warranties that address matters only as of a specified date, which shall be true and correct in all respects as of that specified </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 10pt 72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">date)</font><font style="display:inline;color:#000000;">, and (B)</font><font style="display:inline;color:#000000;"> the conditions to Closing set forth in Section</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">2.3(a)(ii)</font><font style="display:inline;color:#000000;"> of this</font><font style="display:inline;color:#000000;"> Agreement have been fulfilled</font><font style="display:inline;color:#000000;">; &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display:inline;color:#000000;">(v)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">a certificate of the </font><font style="display:inline;color:#000000;">s</font><font style="display:inline;color:#000000;">ecretary of the Company dated as of the Closing Date certifying (A) that attached thereto is a true and complete copy of the bylaws of the Company as in effect at the time of the actions by the Board referred to in clause (B) below, and on the Closing Date; (B) that attached thereto is a true and complete copy of all resolutions adopted by the Board authorizing the execution, delivery and performance of the Transaction Agreements</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and that all such resolutions are in ful</font><font style="display:inline;color:#000000;">l force and effect and are all the resolutions adopted in connection with the transactions contemplated hereby as of the Closing Date; (C) that attached thereto is a true and complete copy of the Company&#x2019;s Certificate of Incorporation as in effect at the time of the actions by the Board referred to in clause (B) above, and on the Closing Date; and (D) as to the incumbency of any officer of the Company executing a Transaction Agreement on behalf of the Company; </font><font style="display:inline;color:#000000;">and</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(vi)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> a legal opinion of Company Counsel, in form and substance reasonably satisfactory to the Purchaser.</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display:inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">On or prior to the Closing Date, the Purchaser shall deliver to the Company, the following:</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display:inline;color:#000000;">(i)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the Transaction Agreements duly executed by the Purchaser; and</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:24pt;"><font style="display:inline;color:#000000;">(ii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the Subscription Amount by wire transfer to the account specified by the Company.</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">2.3</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Closing Conditions</font><font style="display:inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(a)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met or able to be satisfied contemporaneous with the Closing:</font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display:inline;color:#000000;">(i)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the accuracy in all material respects on the Closing Date of the representations and warranties of the Purchaser contained herein (unless as of a specific date therein in which case they shall be accurate as of such date); </font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:24pt;"><font style="display:inline;color:#000000;">(ii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">all obligations, covenants and agreements of the Purchaser required to be performed at or prior to the Closing Date shall have been performed;</font><font style="display:inline;color:#000000;"> and</font></font>
		</p>
		<p style="margin:0pt 0pt 10pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(iii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement.</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met or able to be satisfied contemporaneous with the Closing:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display:inline;color:#000000;">(i)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the accuracy in all material respects when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they shall be accurate as of such date);</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:24pt;"><font style="display:inline;color:#000000;">(ii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(iii)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement; and</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">(iv)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display:inline;color:#000000;">(v)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">there shall be a vacancy on the Board </font><font style="display:inline;color:#000000;">to permit the appointment of the Purchaser Designee to the Board as of the Closing</font><font style="display:inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">ARTICLE III.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">REPRESENTATIONS AND WARRANTIES</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display:inline;color:#000000;">3.1</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Representations and Warranties of the Company</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">T</font><font style="display:inline;color:#000000;">he Company hereby makes the following representations and warranties to the Purchaser:</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(a)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Subsidiary</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Other than Permitted Liens, the Company owns, directly or indirectly, all of the capital stock or other equity interests of the Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of the Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. Other than the Subsidiary, the Company does not control, directly or indirectly, through one or more intermediaries, any other Person.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Organization and Qualification</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Each of the Company and the Subsidiary is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.&nbsp;&nbsp;Neither the Company nor the Subsidiary is in violation or default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents.&nbsp;&nbsp;Each of the Company and the Subsidiary is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in a material adverse effect on (i) the results of operations, assets, business or condition (financial or otherwise) of the Company and the Subsidiary, taken as a whole, or (ii) the consummation of the transactions contemplated by the Transaction Agreements or the Prospectus Supplement (each, a&nbsp;&nbsp;&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Material Adverse Effect</font><font style="display:inline;color:#000000;">&#x201D;).</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(c)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Authorization; Enforcement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by the Transaction Agreements and otherwise to carry out its obligations thereunder.&nbsp;&nbsp;The execution and delivery of the Transaction Agreements by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company, its officers, directors and shareholders and no further action is required by the Company, its officers, directors or shareholders in connection therewith other than in connection with the Required Approvals.&nbsp;&nbsp;The Transaction Agreements have been duly executed and delivered by the Company and constitute the valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors&#x2019; rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(d)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Conflicts</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The execution, delivery and performance by the Company of the Transaction Agreements, the issuance and sale of the Shares and the consummation by it of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company&#x2019;s or any Subsidiary&#x2019;s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(e)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Filings, Consents and Approvals</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as provided in the Registration Rights Agreement, the Company is not required to obtain any consent, waiver, authorization, approval or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Agreements and the consummation of the transactions contemplated thereby, other than: (i) the filing with the Commission of the Prospectus Supplement, and (ii) application to the NASDAQ Capital Market for the listing of the Shares for trading thereon in the time and manner required thereby (collectively, clauses (i) and (ii), the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Required Approvals</font><font style="display:inline;color:#000000;">&#x201D;).</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(f)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Issuance of the Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Shares have been duly authorized by the Company and, when issued and delivered against payment therefor as provided herein, will be validly issued, fully paid and nonassessable and free and clear of any Lien and will conform to the description thereof in the Registration Statement and the Prospectus; and the issuance of the Shares is not subject to any preemptive or similar rights that have not been waived.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(g)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Registration</font><font style="display:inline;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(i)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">The Company has filed with the Commission a &#x201C;shelf&#x201D; registration statement relating to the Common Shares on Form S-3 (Registration No. 333-195588), which has become effective, under the Securities Act.&nbsp;&nbsp;The registration statement, as amended or supplemented as of the date of this Agreement, including the exhibits and information (if any) deemed to be part of the registration statement pursuant to Rule 430B under the Securities Act, is hereinafter referred to as the &#x201C;Registration Statement.&#x201D;&nbsp;&nbsp;The base prospectus filed as part of the Registration Statement, in the form in which it has most recently been filed with the Commission on or prior to the date of this Agreement, is hereinafter called the &#x201C;Base Prospectus.&#x201D;&nbsp;&nbsp;The term &#x201C;Prospectus&#x201D; means the Base Prospectus and any amendments or further supplements to such prospectus, and including, without limitation, the final prospectus supplement (the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Prospectus Supplement</font><font style="display:inline;color:#000000;">&#x201D;), to be filed pursuant to and within the limits described in Rule 424(b) with the Commission in connection with the sale of the Shares contemplated by this Agreement through the date of such prospectus supplement. Unless otherwise stated herein, any reference herein to the Registration Statement and the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein, including pursuant to Item 12 of Form S-3 under the Securities Act, which were filed under the Securities Exchange Act on or before the date hereof or are so filed hereafter. Any reference herein to the terms &#x201C;amend,&#x201D; &#x201C;amendment&#x201D; or &#x201C;supplement&#x201D; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include any such document filed or to be filed under the Exchange Act after the date of the Registration Statement or Prospectus, as the case may be, and deemed to be incorporated therein by reference. No stop order suspending the effectiveness of the Registration Statement has been issued and, to the Company&#x2019;s knowledge, no proceeding for that purpose has been initiated or</font><font style="display:inline;color:#000000;"> threatened by the Commission.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(ii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">As of the date hereof, the Registration Statement (and any post-effective amendment thereto) and the Prospectus (as amended or as supplemented), complied as to form in all material respects to the requirements of the Securities Act, and did not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein (in the light of the circumstances under which they were made, in the case of the Prospectus) not misleading.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">The Company meets all conditions and requirements for the use of Form S-3 to register the offer and sale of the Shares. </font>
		</p>
		<p style="margin:0pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iv)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">The sale of the Shares has been duly registered under the Securities Act pursuant to the Registration Statement.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 10pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(v)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">The issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and nonassessable and are not subject to any preemptive or similar rights that have not been effectively waived.&nbsp;&nbsp;The Company has an authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as of the dates referred to therein (other than the grant of additional options under the Company&#x2019;s existing stock option plans, or changes in the number of outstanding Common Shares due to the issuance of shares upon the exercise or conversion of securities exercisable for, or convertible into, Common Shares outstanding on the date hereof, including without limitation issuances of shares under the Company&#x2019;s employee stock purchase plan) and such authorized capital stock conforms to the description thereof set forth in the Registration Statement and the Prospectus.&nbsp;&nbsp;The description of the securities of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects.&nbsp;&nbsp;Except as disclosed in or contemplated by the Registration Statement or the Prospectus, as of the dates referred to therein, the Company did not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities or obligations convertible into, or exchangeable for, or any contracts or commitments to issue or sell, any shares of capital stock or other securities.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(h)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">SEC Reports; Financial Statements</font><font style="display:inline;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(i)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">The Company has filed all reports, schedules, forms, statements and other documents with the Commission required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof and the Company will file prior to the Closing all forms, reports and documents with the Commission that are required to be filed by it under the Securities Act and the Exchange Act prior to such time (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with the Prospectus and the Prospectus Supplement, being collectively referred to herein as the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">SEC Reports</font><font style="display:inline;color:#000000;">&#x201D;) on a timely basis or has received or will receive a valid extension of such time of filing and has filed or will file any such SEC Reports prior to the expiration of any such extension.&nbsp;&nbsp;As of their respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.&nbsp;&nbsp;The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing.&nbsp;&nbsp;Such financial statements have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis during the periods specified therein (&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">GAAP</font><font style="display:inline;color:#000000;">&#x201D;), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiary as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.</font>
		</p>
		<p style="margin:0pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(ii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">To the Knowledge of the Company, since January 1, 2012, the Company has (x) devised and maintained a system of internal accounting controls sufficient to </font><font style="display:inline;color:#000000;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">9</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 6pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">provide reasonable assurances regarding the reliability of financial reporting and preparation of financial statements in accordance with GAAP, and has evaluated such system on a quarterly basis and concluded that it is effective and (y) disclosed to the Company&#x2019;s auditors and the audit committee of the Company&#x2019;s board of directors (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting that have been identified and which are reasonably likely to adversely affect the Company&#x2019;s or the Subsidiary&#x2019;s ability to record, process, summarize and report financial information and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the internal controls of the Company.&nbsp; The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-14 under the Exchange Act); such disclosure controls and procedures are designed to ensure that material information relating to the Company and the Subsidiary required to be included in the Company&#x2019;s periodic reports under the Exchange Act is made known to the Company&#x2019;s principal executive officer and its principal financial officer by others within those entities, and, to the Knowledge of the Company, such disclosure controls and procedures are effective in timely alerting the Company&#x2019;s principal executive officer and its principal financial officer to such material information required to be included in the Company&#x2019;s periodic reports required under the Exchange Act.&nbsp; There are no outstanding loans made by the Company or the Subsidiary to any executive officer (as defined in Rule 3b-7 under the Exchange Act) or director of the Company.&nbsp; Since the enactment of the Sarbanes-Oxley Act of 2002, neither the Company nor the Subsidiary has made any loans to any executive officer (as defined in Rule 3b-7 under the Exchange Act) or director of the Company or the Subsidiary.</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">Neither the Company nor the Subsidiary is a party to, or has any commitment to become a party to, (x) any off-balance sheet partnership or any similar contract or arrangement (including any contract or arrangement relating to any transaction or relationship between or among the Company and the Subsidiary, on the one hand, and any unconsolidated Affiliate on the other hand), including any &#x201C;off-balance sheet arrangement&#x201D; (as defined in Item 303(a) of Regulation S-K promulgated by the Commission); (y) any hedging, derivatives or similar contract or arrangement, in each case in an amount material to the Company and the Subsidiary, taken as a whole, or (z) any contract or arrangement pursuant to which the Company or the Subsidiary is obligated to make any capital contribution or other investment in or loan to any Person (other than a Subsidiary of the Company).</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(i)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Material Changes; Undisclosed Events, Liabilities or Developments</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Since the date of the latest audited financial statements included within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof, the business of the Company and the Subsidiary has been conducted in the ordinary course of business consistent with past practices and (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company&#x2019;s financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase </font><font style="display:inline;color:#000000;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">10</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 10pt 36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans.&nbsp;&nbsp;The Company does not have pending before the Commission any request for confidential treatment of information.&nbsp;&nbsp;Except for the issuance of the Shares contemplated by this Agreement or as set forth in the Prospectus, no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or the Subsidiary or their respective businesses, properties, operations, assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least 1 Trading Day prior to the date that this representation is made. </font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(j)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Litigation</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Action</font><font style="display:inline;color:#000000;">&#x201D;) which (i) adversely affects or challenges the legality, validity or enforceability of the Transaction Agreements or the Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect.&nbsp;&nbsp;Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.&nbsp;&nbsp;There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company.&nbsp;&nbsp;The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(k)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Compliance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in the case of clauses (ii) or (iii) as could not have or reasonably be expected to result in a Material Adverse Effect.&nbsp;&nbsp;To the knowledge of the Company, neither the Company or the Subsidiary nor any director, officer, employee, consultant or agent of the Company or the Subsidiary has (i) used any funds for unlawful contributions, gifts, entertainment or other unlawful payments relating to political activity, (ii) made any unlawful payment to any foreign or domestic government official or employee or to any foreign or domestic </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">11</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">political party or campaign or violated any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, (iii) consummated any transaction, made any payment, entered into any contract or arrangement or taken any other action in violation of Section 1128B(b) of the U.S. Social Security Act, as amended, or (iv) made any other similar unlawful payment under any similar foreign laws.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(l)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Regulatory Permits</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company and the Subsidiary possess all material certificates, authorizations and permits issued by the appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as currently conducted and as described in the SEC Reports (&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Material Permits</font><font style="display:inline;color:#000000;">&#x201D;), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(m)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Title to Assets</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company and the Subsidiary have good and marketable title in fee simple to all real property owned by them and good and marketable title in all personal property (whether tangible or intangible) owned by them that is material to the business of the Company and the Subsidiary, in each case free and clear of all Liens, except for (i) Permitted Liens, (ii) Liens that do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiary and (iii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made in accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties.&nbsp;&nbsp;Other than Permitted Liens, any real property and facilities held under lease by the Company and the Subsidiary are held by them under valid, subsisting and enforceable leases with which the Company and the Subsidiary are in compliance.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(n)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Intellectual Property</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company and the Subsidiary have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports except for such failure to so have that could have a Material Adverse Effect (collectively, the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Intellectual Property Rights</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp;&nbsp;All such Intellectual Property Rights are enforceable and to the knowledge of the Company there is no existing infringement by another Person of any of the Intellectual Property Rights.&nbsp;&nbsp;The Company and the Subsidiary have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.&nbsp; Since December 31, 2013, neither the Company nor the Subsidiary (i) has received any written claim or notice alleging any such infringement, violation or misappropriation, or (ii) has been or is subject to any settlement, order, decree, injunction, or stipulation imposed by any governmental authority that may affect the use, validity or enforceability of Intellectual Property Rights.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(o)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Insurance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company and the Subsidiary are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiary </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">12</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">are engaged and which the Company believes is adequate for the operation of its business, including, but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount.&nbsp;&nbsp;All such insurance policies are in full force and effect, no notice of cancellation has been received, and there is no existing default or event which, with the giving of notice or lapse of time or both, would constitute a default, by any insured thereunder, except for such defaults that would not, individually or in the aggregate, have a Material Adverse Effect.&nbsp;&nbsp;To the knowledge of the Company, there is no material claim pending under any of such policies as to which coverage has been denied or disputed by the underwriters of such policies and there has been no threatened termination of any such policies.&nbsp;&nbsp;Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(p)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Certain Fees</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as set forth in the Prospectus Supplement, no brokerage or finder&#x2019;s fees or commissions are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement.&nbsp;&nbsp;The Purchaser shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(q)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Investment Company</font><font style="display:inline;color:#000000;">. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will not be or be an Affiliate of, an &#x201C;investment company&#x201D; within the meaning of the Investment Company Act of 1940, as amended.&nbsp;&nbsp;The Company shall conduct its business in a manner so that it will not become an &#x201C;investment company&#x201D; subject to registration under the Investment Company Act of 1940, as amended.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(r)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Listing and Maintenance Requirements</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">The Common Shares are registered pursuant to Section 12(b) of the Exchange Act and are listed on the NASDAQ Capital Market, and the Company has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Shares under the Exchange Act or delisting the Common Shares from the NASDAQ Capital Market, nor has the Company received any notification that the Commission or the NASDAQ Capital Market is contemplating terminating such registration or listing.&nbsp; </font><a name="_DV_M125"></a><font style="color:#0000FF;display:inline;color:#000000;text-decoration:none;">The</font><font style="display:inline;color:#000000;"> Company has not, in the 12 months preceding the date hereof, received notice from the NASDAQ Capital Market on which the Common Shares are or have been listed to the effect that the Company is not in compliance with the listing or maintenance requirements of the NASDAQ Capital Market. </font><a name="_DV_M127"></a><font style="color:#0000FF;display:inline;color:#000000;text-decoration:none;">The</font><font style="display:inline;color:#000000;"> Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<a name="_DV_C40"></a><font style="display:inline;color:#000000;">(s)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Tax Status</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">The Company and the Subsidiary each (i) has made or filed all material United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">13</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply.&nbsp;&nbsp;There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(t)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Regulation M Compliance</font><font style="display:inline;color:#000000;">.&nbsp; The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases of, any of the Securities, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(u)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">U.S. Real Property Holding Corporation</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser&#x2019;s request.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(v)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Minnesota Business Combination Statute</font><font style="display:inline;color:#000000;">. &nbsp;</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">The execution, delivery and performance by the Company of the Transaction Agreements, the issuance and sale of the Shares and the consummation by the Company of the transactions contemplated thereby</font><font style="display:inline;color:#000000;"> have been approved by a committee of the Board comprised solely of one or more disinterested directors and formed and acting in accordance with Section 302A.673 of the Minnesota Business Combination Statute, such that Purchaser will not be deemed an interested shareholder following the issuance and sale of the Shares, and there is no other applicable business combination statute or similar statute under the Minnesota </font><font style="display:inline;color:#000000;">s</font><font style="display:inline;color:#000000;">tatutes that would be implicated by the Transaction Agreements and the transactions contemplated thereby.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">3.2</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Representations and Warranties of the Purchaser</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date (unless as of a specific date therein) to the Company as follows:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 20.9pt;text-indent:51.1pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(a)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Organization; Authority</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Purchaser is an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation with full corporate power and authority to enter into and to consummate the transactions contemplated by the Transaction Agreements and otherwise to carry out its obligations thereunder. The execution and delivery of the Transaction Agreements and performance by the Purchaser of the transactions contemplated by the Transaction Agreements have been duly authorized by all necessary corporate action on the part of the Purchaser.&nbsp;&nbsp;The Transaction Agreements have been duly executed and delivered by the Purchaser and constitute the valid and legally binding obligations of the Purchaser, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws </font>
		</p>
		<p style="margin:0pt 0pt 12pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">14</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 10pt 20.9pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">of general application affecting enforcement of creditors&#x2019; rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 20.9pt;text-indent:51.1pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Understandings or Arrangements</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Purchaser is acquiring the Shares as principal for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of the Shares (this representation and warranty not limiting the Purchaser&#x2019;s right to sell the Shares pursuant to the Registration Statement or otherwise in compliance with applicable federal and state securities laws).</font>
		</p>
		<p style="margin:0pt 0pt 10pt 20.9pt;text-indent:51.1pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<a name="_DV_C18"></a><font style="display:inline;color:#000000;">(c)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Certain Transactions and Confidentiality</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Other than consummating the transactions contemplated hereunder, the Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including Short Sales,&nbsp;of the securities of the Company during the period commencing as of </font><a name="_DV_M122"></a><font style="display:inline;color:#000000;">July 23, 2015.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt 20.9pt;text-indent:51.1pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(d)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">No Legal Advice from the Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Purchaser acknowledges that it had the opportunity to review the Transaction Agreements and the transactions contemplated by the Transaction Agreements with its own legal counsel and investment and tax advisors.&nbsp;&nbsp;The Purchaser is relying solely on such counsel and advisors and not on any statements or representations of the Company, except as specifically set forth in the Transaction Agreements, or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by the Transaction Agreements or the securities laws of any jurisdiction.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 20.9pt;text-indent:51.1pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(e)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">No Trading while in Possession of Material Non-Public Information</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Purchaser acknowledges and agrees that it is in possession of material non-public information of the Company and shall not trade any Common Shares until the earlier of (A) November 23, 2015, and (B) the date on which the Company has filed with the SEC (i) its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015, and (ii) its Current Report on Form 8-K regarding the transactions contemplated by this Agreement (collectively, the &#x201C;Non-Public Information&#x201D;).</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">ARTICLE IV.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">OTHER AGREEMENTS OF THE PARTIES</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">4.1</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Furnishing of Information; Public Information</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Until the time the Purchaser owns no Shares, the Company covenants to maintain the registration of the Common Shares under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">4.2</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Indemnification of the Purchaser</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(a)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Indemnification by Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display:inline;color:#000000;">Subject to the provisions of this Section 4.2, the Company will indemnify and hold the Purchaser and its directors, officers, </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">15</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">stockholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls the Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Purchaser Party</font><font style="display:inline;color:#000000;">&#x201D;) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys&#x2019; fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement, (b) any action instituted against the Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any shareholder of the Company who is not an Affiliate of such Purchaser Party (including any derivative action brought by any shareholder on behalf of the Company), with respect to the transactions contemplated by this Agreement (unless such action is based upon a breach of such Purchaser Party&#x2019;s representations, warranties or covenants under this Agreement or any agreements or understandings such Purchaser Party may have with any such shareholder or any violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which constitutes fraud, gross negligence, willful misconduct or malfeasance), (c) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment or part thereof), or the Prospectus, (d) any omission or alleged omission to state a material fact required to be stated in such Registration Statement or the Prospectus, or necessary to make the statements made therein not misleading.&nbsp;&nbsp;If any action shall be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party.&nbsp;&nbsp;Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to employ counsel (not to exceed 90 days) or (iii) in such action there is a conflict or potential conflict on any material issue between the position of the Company and the position of such Purchaser P</font><font style="display:inline;color:#000000;">arty, in which case the Company shall</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">be responsible for the reasonable fees and expenses of no more than one such separate counsel and local counsel and shall pay such fees and expenses as incurred.&nbsp;&nbsp;The Company will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company&#x2019;s prior written consent, which shall not be unreasonably withheld or delayed; provided, however, that if at any time a Purchaser Party shall have requested the Company to reimburse such Purchaser Party for fees and expenses of counsel as contemplated by this Section 4.2, the Company agrees that its shall be liable for any settlement of any proceeding effected without their written consent if (i) such settlement is entered into more than 30 days after receipt by such Purchaser Party of the aforesaid </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">16</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">request, (ii) the Company shall have received notice of the terms of such settlement at least 10 days prior to such settlement being entered into, and (iii) the Company shall not have reimbursed the Purchaser Party in accordance with such request; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party&#x2019;s breach of any of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement.</font><a name="_Toc430524929"></a><a name="_Toc449254796"></a><font style="display:inline;color:#000000;"> The Company shall not, without the prior written consent of the Purchaser, not to be unreasonably withheld, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any Purchaser Party is or could have been a party and indemnity was or could have been sought hereunder by such Purchaser Party, unless such settlement, compromise or consent (i) includes an unconditional release of such Purchaser Party from all liability on claims that are the subject matter of such action, suit or proceeding and (ii) does not include any statements as to or any findings of fault, culpability or failure to act by or on behalf of any Purchaser Party. The indemnification required by this Section 4.2 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Company as Indemnitor of First Resort</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">The Company hereby acknowledges that a Purchaser Party may have certain rights to indemnification, advancement of expenses or insurance, provided by Purchaser and certain of its affiliates (</font><font style="display:inline;color:#000000;">other than the Company and its subsidiaries, </font><font style="display:inline;color:#000000;">collectively, the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Fund Indemnitors</font><font style="display:inline;color:#000000;">&#x201D;). In the event that any Purchaser Party is, or is threatened to be made, a party to or a participant in any proceeding</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> to the extent resulting from any claim based on a Purchaser Party&#x2019;s service to the Company as a director or other fiduciary of the Company, then the Company shall (i) be an indemnitor of first resort (i.e., its obligations to such Purchaser Party are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Purchaser Party are secondary), (ii) be required to advance reasonable expenses incurred by such Purchaser Party, and (iii) be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;color:#000000;">Section 302A.521</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">subd</font><font style="display:inline;color:#000000;">ivisions 2 and 3 </font><font style="display:inline;color:#000000;">of the </font><font style="display:inline;color:#000000;">Minnesota Statutes, </font><font style="display:inline;color:#000000;">and any provision of the Company&#x2019;s </font><font style="display:inline;color:#000000;">b</font><font style="display:inline;color:#000000;">ylaws or Certificate of Incorporation</font><font style="display:inline;color:#000000;">, as amended</font><font style="display:inline;color:#000000;"> (or any other agreement between the Company </font><font style="display:inline;color:#000000;">and Purchaser</font><font style="display:inline;color:#000000;">), without regard to any rights </font><font style="display:inline;color:#000000;">such Purchaser Party</font><font style="display:inline;color:#000000;"> may have against the Fund Indemnitors. The Company irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. No advancement or payment by the Fund Indemnitors on behalf of </font><font style="display:inline;color:#000000;">a Purchaser Party</font><font style="display:inline;color:#000000;"> with respect to any claim for which </font><font style="display:inline;color:#000000;">such Purchaser Party</font><font style="display:inline;color:#000000;"> has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution or be subrogated to the extent of such advancement or payment to all of the rights of recovery of </font><font style="display:inline;color:#000000;">such Purchaser Party</font><font style="display:inline;color:#000000;"> against the Company. The Fund Indemnitors are third party beneficiaries of the terms of this Section</font><font style="display:inline;color:#000000;"> 4.2 (b)</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">17</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(c)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Amendment to Indemnification</font><font style="display:inline;color:#000000;">. &nbsp;</font><font style="display:inline;color:#000000;">F</font><font style="display:inline;color:#000000;">or so long as </font><font style="display:inline;color:#000000;">a &nbsp;</font><font style="display:inline;color:#000000;">Purchaser </font><font style="display:inline;color:#000000;">Designee is serving on the Board</font><font style="display:inline;color:#000000;">, t</font><font style="display:inline;color:#000000;">he Company </font><font style="display:inline;color:#000000;">shall</font><font style="display:inline;color:#000000;"> not</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">amend any provision </font><font style="display:inline;color:#000000;">relating</font><font style="display:inline;color:#000000;"> to indemnification in </font><font style="display:inline;color:#000000;">its</font><font style="display:inline;color:#000000;"> bylaws or Articles of Incorporation</font><font style="display:inline;color:#000000;">, as amended</font><font style="display:inline;color:#000000;">, without the written consent of Purchaser</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">4.3</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Reservation of Common Shares</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> As of the date hereof, the Company has reserved, free of preemptive rights, a sufficient number of Common Shares for the purpose of enabling the Company to issue the Shares pursuant to this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display:inline;color:#000000;">4.4</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">L</font><a name="_Toc430524930"></a><a name="_Toc449254797"></a><font style="display:inline;text-decoration:underline;color:#000000;">isting of Common Shares</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> The Company hereby agrees to apply to list the Shares on the NASDAQ Capital Market and promptly secure the listing of the Shares on the NASDAQ Capital Market.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display:inline;color:#000000;">4.5</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Disclosure of Non-Public Information</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company hereby covenants and agrees with the Purchaser that the Company will file with or furnish to the Commission a Form 8-K, Form 10-Q or widely disseminate a press release disclosing in full all of the Non-Public Information by no later than 5:30 p.m. (Eastern) on November 14, 2015.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display:inline;color:#000000;">4.6</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Board Designee</font><font style="display:inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(a)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Purchaser Designee</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;color:#000000;">Effective immediately </font><font style="display:inline;color:#000000;">after the Closing,</font><font style="display:inline;color:#000000;"> and</font><font style="display:inline;color:#000000;">, in the case of any Purchaser Designee other than the Initial Purchaser Designee (as defined below),</font><font style="display:inline;color:#000000;"> for so long as Purchaser (and its Affiliates) beneficially owns at least </font><font style="display:inline;color:#000000;">thirty three</font><font style="display:inline;color:#000000;"> percent (</font><font style="display:inline;color:#000000;">33</font><font style="display:inline;color:#000000;">%) of </font><font style="display:inline;color:#000000;">the </font><font style="display:inline;color:#000000;">Shares issued to Purchaser at the closing</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> Purchaser shall have the right to designate, </font><font style="display:inline;color:#000000;">and the Company shall </font><font style="display:inline;color:#000000;">nominate and recommend</font><font style="display:inline;color:#000000;"> in the Company&#x2019;s proxy statement for each annual meeting of Shareholders (the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Annual Meeting</font><font style="display:inline;color:#000000;">&#x201D;),</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">one individual </font><font style="display:inline;color:#000000;">designated by the Purchaser</font><font style="display:inline;color:#000000;"> and approved by the Company, such approval not to be unreasonably withheld</font><font style="display:inline;color:#000000;"> (the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Purchaser Designee</font><font style="display:inline;color:#000000;">&#x201D;), who shall serve on the Board until the </font><font style="display:inline;color:#000000;">Company&#x2019;s</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">next succeeding</font><font style="display:inline;color:#000000;"> Annual Meeting.&nbsp; </font><font style="display:inline;color:#000000;">Immediately following the Closing, the Company shall appoint the Purchaser Designee to the Board with a term expiring at the Company&#x2019;s next Annual Meeting.</font><font style="display:inline;color:#000000;"> &nbsp;The initial Purchaser Designee shall be Guido Neels (the &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Initial Purchaser Designee</font><font style="display:inline;color:#000000;">&#x201D;).</font><font style="display:inline;color:#000000;">&nbsp; &nbsp;</font><font style="display:inline;color:#000000;">If there is a</font><font style="display:inline;color:#000000;"> vacancy on the Board as a result of (1) the resignation, death or removal of </font><font style="display:inline;color:#000000;">the</font><font style="display:inline;color:#000000;"> Purchaser De</font><font style="display:inline;color:#000000;">signee</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> or (2) </font><font style="display:inline;color:#000000;">the</font><font style="display:inline;color:#000000;"> Purchaser Designee</font><font style="display:inline;color:#000000;">&#x2019;s</font><font style="display:inline;color:#000000;"> fail</font><font style="display:inline;color:#000000;">ure</font><font style="display:inline;color:#000000;"> to obtain the requisite approval of the Company&#x2019;s shareholders </font><font style="display:inline;color:#000000;">necessary for election </font><font style="display:inline;color:#000000;">at any annual or special meeting of the Company&#x2019;s shareholders</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> and where no other </font><font style="display:inline;color:#000000;">individual</font><font style="display:inline;color:#000000;"> is elected to </font><font style="display:inline;color:#000000;">fill </font><font style="display:inline;color:#000000;">such vacancy, Purchaser shall have the r</font><font style="display:inline;color:#000000;">ight to designate </font><font style="display:inline;color:#000000;">another Purchaser Designee</font><font style="display:inline;color:#000000;"> to fill such vacancy, and the Company shall take </font><font style="display:inline;color:#000000;">all</font><font style="display:inline;color:#000000;"> actions necessary to appoin</font><font style="display:inline;color:#000000;">t</font><font style="display:inline;color:#000000;"> such individual to the Board.&nbsp; The Company shall have taken all actions necessary at or prior to the Closing to ensure there is a vacancy on</font><font style="display:inline;color:#000000;"> the Board as of the Closing to permit the appointment of the Purchaser Designee to the Board as of the Closing.</font><font style="display:inline;color:#000000;"> &nbsp;The Company covenants and agrees to take no action that is inconsistent with the objective of having Purchaser Designee serve on the Board pursuant to this Section 4.6(a).</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(b)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Limitation on Removal</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">&nbsp; &nbsp;</font><font style="display:inline;color:#000000;">Purchaser Designee shall notify the Company if such Purchaser Designee becomes or expects to become an officer or director of any company not listed on </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit B</font><font style="display:inline;color:#000000;"> attached hereto.&nbsp; </font><font style="display:inline;color:#000000;">A Purchaser Designee director may not </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">18</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">be subject to removal from the Board pursuant to Article </font><font style="display:inline;color:#000000;">3.10(b) of the Company&#x2019;s bylaws</font><font style="display:inline;color:#000000;"> unless the </font><font style="display:inline;color:#000000;">Board objects to Purchaser Designee becoming an officer or director of a company within 10 business days of being notified thereof pursuant to the prior sentence because the Board has bona fide reason to believe such company</font><font style="display:inline;color:#000000;"> engages in </font><font style="display:inline;color:#000000;">activity that is competitive with any business of the Company</font><font style="display:inline;color:#000000;">, in which case such Purchaser director shall remain subject to removal from the Board</font><font style="display:inline;color:#000000;">;</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that Purchaser Designee shall not be subject to removal</font><font style="display:inline;color:#000000;"> pursuant </font><font style="display:inline;color:#000000;">to </font><font style="display:inline;color:#000000;">this Section 4.6(b) </font><font style="display:inline;color:#000000;"> for Purchaser Designee&#x2019;s </font><font style="display:inline;color:#000000;">service</font><font style="display:inline;color:#000000;"> as an officer or director of any company listed in </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit B</font><font style="display:inline;color:#000000;"> attached hereto</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(c)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Waiver of Corporate Opportunities</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">&nbsp; In recognition that the Purchaser and Purchaser Designee currently have and will in the future have, or will consider, investments in numerous companies with respect to which Purchaser, Purchaser Designee or another Purchaser Party may serve as an advisor, a director or in some other capacity, and in recognition that Purchaser, Purchaser Designee and other Purchaser Parties have myriad duties to various investors and partners, and in anticipation that the Company and its subsidiaries, on the one hand, and the Purchaser, Purchaser Designee and any other Purchaser Party, on the other hand, may engage in the same or similar activities or lines of business and have an interest in the same areas of corporate opportunities, and in recognition of the benefits to be derived by the Company hereunder and in recognition of the difficulties which may confront any advisor who desires and endeavors fully to satisfy such advisor&#x2019;s duties in determining the full scope of such duties in any particular situation, the provisions of this Section 4.6(c) are set forth to regulate, define and guide the conduct of certain affairs of the Company as they may involve the Purchaser, Purchaser Designee or Purchaser Party, and,&nbsp;except as the Purchaser and Purchaser Designee may otherwise agree in writing after the date hereof: </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(i)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">the Purchaser, Purchaser Designee and any Purchaser Party will have the right: (A) to directly or indirectly engage in any business (including, without limitation, any business activities or lines of business that are the same as or similar to those pursued by, or competitive with, the Company and its subsidiaries), (B) to directly or indirectly do business with any client or customer of the Company and its subsidiaries, (C) to take any other action that the Purchaser, Purchaser Designee or Purchaser Party believes in good faith is necessary to or appropriate to fulfill its obligations as described in the first sentence of this Section 4.6(c) to third parties and (D) not to communicate or present potential transactions, matters or business opportunities to the Company or any of its subsidiaries, and to pursue, directly or indirectly, any such opportunity for itself, and to direct any such opportunity to another person or entity;&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(ii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;"> the Purchaser, Purchaser Designee and any Purchaser Party will have no duty (contractual or otherwise) to communicate or present any corporate opportunities to the Company or any of its Affiliates or to refrain from any actions specified in the preceding paragraph, and the Company, on its own behalf and on behalf of its Affiliates, hereby renounces and waives any right to require the Purchaser, Purchaser Designee or any Purchaser Party to act in a manner inconsistent with the provisions of this Section 4.6(c);</font>
		</p>
		<p style="margin:0pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iii)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;"> none of the Purchaser, Purchaser Designee or any Purchaser Party will be liable to the Company or any of its Affiliates for breach of any duty (contractual or </font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">19</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 10pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">otherwise) by reason of any activities or omissions of the types referred to in this Section 4.6(c) or of any such person&#x2019;s or entity&#x2019;s participation therein; and</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:108pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(iv)</font><font style="display:inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;color:#000000;">there is no restriction on Purchaser, Purchaser Designee or any Purchaser Party using such knowledge and understanding in making investment, voting, monitoring, governance or other decisions relating to other entities or securities.</font>
		</p>
		<p style="margin:0pt 0pt 10pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(d)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Benefits</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">&nbsp; During the period that a Purchaser Designee is a director of the Board, such director shall be entitled to the same benefits, including benefits under any director and officer indemnification or insurance policy maintained by the Company, as any other director of the Board.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">(e)</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Initial Purchaser Designee</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">&nbsp; Effective immediately after the Closing, Purchaser shal</font><font style="display:inline;color:#000000;">l designate Guido Neels as the I</font><font style="display:inline;color:#000000;">nitial Purchaser Designee.</font><font style="display:inline;color:#000000;"></font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">ARTICLE V.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">MISCELLANEOUS</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.1</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Termination</font><font style="display:inline;color:#000000;">.&nbsp; This Agreement may be terminated by the Purchaser by written notice to the Company, if the Closing has not been consummated on or before September 1, 2015.&nbsp;&nbsp;In the event of termination of this Agreement pursuant to this Section 5.1, the Agreement shall forthwith become void and there shall be no liability on the part of either party; provided, however, that nothing herein shall relieve either party from liability for (i) any breach of this Agreement or any agreement made as of the date hereof or subsequent thereto pursuant to this Agreement or (ii) any willful breach of, or fraud in connection with this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.2</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Fees and Expenses</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of the Transaction Agreements; </font><font style="display:inline;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that the Company shall reimburse Purchaser for up to $150,000.00 of such fees and expenses incurred by Purchaser and any fees and expenses provided for under the Registration Rights Agreement.&nbsp;&nbsp;The Company shall pay all Transfer Agent fees (including, without limitation, any fees required for same-day processing of any instruction letter delivered by the Company and any exercise notice delivered by the Purchaser), stamp taxes and other taxes and duties levied in connection with the delivery of the Shares to the Purchaser.</font>
		</p>
		<p style="margin:0pt 0pt 10pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.3</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Entire Agreement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Transaction Agreements, the Prospectus and the Prospectus Supplement, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.4</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Notices</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Business Day, (b) the next Business Day after the date of </font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">20</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth on the signature pages attached hereto on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, (c) the next Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given.&nbsp;&nbsp;The address for such notices and communications shall be as set forth on the signature pages attached hereto.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.5</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Amendments; Waivers</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed by the Company and the Purchaser.&nbsp;&nbsp;No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.6</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Headings</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.7</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Successors and Assigns</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.&nbsp;&nbsp;The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchaser (other than by merger).&nbsp;&nbsp;The Purchaser may assign any or all of its rights under the Transaction Agreements to any Person to whom the Purchaser assigns or transfers any Shares.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.8</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Third-Party Beneficiaries</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.2.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.9</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Governing Law</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.&nbsp;&nbsp;Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective affiliates, directors, officers, stockholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.&nbsp;&nbsp;Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.&nbsp;&nbsp;Nothing </font>
		</p>
		<p style="margin:0pt 0pt 12pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">21</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.&nbsp;&nbsp;If either party shall commence an action, suit or proceeding to enforce any provisions of this Agreement, then, in addition to the obligations of the Company under Section 4.2, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for its reasonable attorneys&#x2019; fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.10</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Survival</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The representations and warranties contained herein shall survive the Closing and the delivery of the Shares.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.11</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Execution</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart.&nbsp;&nbsp;In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a &#x201C;.pdf&#x201D; format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or &#x201C;.pdf&#x201D; signature page were an original thereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.12</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Severability</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.13</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Replacement of Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction.&nbsp;&nbsp;The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Securities.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.14</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Remedies</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Purchaser will be entitled to specific performance under this Agreement.&nbsp;&nbsp;The parties agree that monetary damages may not be adequate compensation for any loss incurred by the Purchaser by reason of any breach of obligations contained in this Agreement and hereby agree to waive and not to assert in any action for specific performance of any such obligation the defense that a remedy at law would be adequate.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">22</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.15</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Saturdays, Sundays, Holidays, etc.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;color:#000000;">If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.16</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Construction</font><font style="display:inline;color:#000000;">. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise this Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments thereto. In addition, each and every reference to share prices and Common Shares in this Agreement shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Shares that occur after the date of this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">5.17</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 21.6pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">WAIVER OF JURY TRIAL.&nbsp;&nbsp;IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-style:italic;">(Signature Pages Follow)</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">23</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td colspan="2" valign="middle" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;text-transform:uppercase;color:#000000;">AXOGEN, INC.</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;text-decoration:underline;">Address for Notice:</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="middle" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="middle" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="middle" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">AxoGen, Inc.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:03.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">By:</font></p>
				</td>
				<td valign="middle" style="width:45.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">/s/ Greg Freitag</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">13631 Progress Blvd., Suite 400</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:03.58%;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="middle" style="width:45.56%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Name: Greg Freitag</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Alachua, Florida 32615</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:03.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="middle" style="width:45.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Title:&nbsp;&nbsp;Chief Financial Officer, General Counsel &amp; </font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Attention: General Counsel</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:03.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="middle" style="width:45.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">VP Business Development</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Telephone: (386) 462-6800</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="middle" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Facsimile: (386) 462-6801</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Email: </font><font style="display:inline;color:#000000;">gfreitag@axogeninc.com</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">With a copy to (which shall not constitute notice):</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">DLA Piper LLP (US)</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">One Liberty Place</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">1650 Market Street, Suite 4900</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Philadelphia, Pennsylvania 19103-7300</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Attention: Fahd M.T. Riaz, Esq.</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Telephone: 215.656.3316</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Facsimile: 215.606.2069</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:48.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Email: Fahd.Riaz@dlapiper.com</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-style:italic;">[Signature Page of AxoGen, Inc. to Securities Purchase Agreement]</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">1</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;text-transform:uppercase;color:#000000;">Essex Woodlands Fund ix, l.p.</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Address for Notice:</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">By</font><font style="display:inline;color:#000000;">:</font></p>
				</td>
				<td valign="top" style="width:44.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Essex Woodlands Fund IX-GP, L.P., its General</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Partner</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Essex Woodlands Fund IX, L.P.</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">21 Waterway Avenue, Suite 225</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">By:</font></p>
				</td>
				<td valign="top" style="width:44.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Essex Woodlands IX, LLC, its General Partner</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">The Woodlands, TX 77380</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Attn: Richard Kolodziejcyk, Chief </font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Financial Officer</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">rkolodziejcyk@ewhv.com</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Office: (281) 364-8338</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Fax: (281) 364-9755</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">By:</font></p>
				</td>
				<td valign="top" style="width:44.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">/s/</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">R. Scott Barry</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.92%;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:44.26%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Name:&nbsp;&nbsp;R. Scott Barry</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:44.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Title: Manager</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">With a copy to (which shall not</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">constitute notice):</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Ropes &amp; Gray LLP</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Three Embarcadero Center</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">San Francisco, CA 94111</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Attention: Thomas&nbsp;&nbsp;Holden</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#0563C1;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">thomas.holden@ropesgray.com</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#0563C1;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Office: (415) 315-2355</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:49.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:02.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:48.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;color:#000000;">Fax:&nbsp;&nbsp;(415) 315-4823</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-style:italic;">[Signature Page of Essex Woodlands</font><font style="display:inline;font-style:italic;"> Fund IX, L.P.</font><font style="display:inline;font-style:italic;"> to Securities Purchase Agreement]</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;font-weight:bold;">EXHIBIT A</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">FORM OF REGISTRATION RIGHTS AGREEMENT</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:auto;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt">
					<p style="margin:12pt 0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 18pt;">
						<font style="display:inline;font-size:18pt;">REGISTRATION RIGHTS AGREEMENT</font></p>
					<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 14pt;">
						<font style="display:inline;font-size:14pt;">BY AND AMONG</font></p>
					<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 14pt;">
						<font style="display:inline;font-weight:bold;text-transform:uppercase;font-size:14pt;">AxoGen, Inc.</font></p>
					<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 14pt;">
						<font style="display:inline;font-weight:bold;text-transform:uppercase;font-size:14pt;">and</font></p>
					<p style="margin:0pt 0pt 24pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 14pt;">
						<font style="display:inline;font-size:14pt;">Essex Woodlands Fund IX, L.P.</font></p>
					<p style="margin:0pt 0pt 24pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 14pt;">
						<font style="display:inline;font-weight:bold;font-size:14pt;">Dated as of August 26, 2015</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 5pt;text-decoration:none;text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 5pt;text-decoration:none;text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">TABLE OF CONTENTS</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">ARTICLE </font><font style="display:inline;color:#000000;">I &nbsp;</font><font style="display:inline;">EFFECTIVENESS.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513633">1</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">1.1.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Effectiveness..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513634">1</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">ARTICLE </font><font style="display:inline;color:#000000;">II </font><font style="display:inline;">DEFINITIONS.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513635">1</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">2.1.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Definitions..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513636">1</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">2.2.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Other Interpretive Provisions..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513637">4</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">ARTICLE </font><font style="display:inline;color:#000000;">III </font><font style="display:inline;">REGISTRATION RIGHTS.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513638">5</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.1.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;color:#000000;">Demand Registration</font><font style="display:inline;">..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513639">5</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.2.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Shelf </font><font style="display:inline;color:#000000;">Registration.</font><font style="display:inline;">.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513640">6</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.3.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Piggyback </font><font style="display:inline;color:#000000;">Registration.</font><font style="display:inline;">.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513641">8</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section 3.4.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Lock-Up Agreements..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513642">9</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.5.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Registration Procedures..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513643">10</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.6.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Underwritten Offerings..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513644">15</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.7.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">No </font><font style="display:inline;color:#000000;">Inconsistent Agreements</font><font style="display:inline;">; Additional Rights..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513645">16</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.9.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Registration Expenses..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513646">16</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.9.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Indemnification..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513647">17</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.10.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;color:#000000;">Rules 144 and 144A and Regulation&nbsp;</font><font style="display:inline;">S..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513648">20</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">3.11.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;color:#000000;">Existing Registration Statements</font><font style="display:inline;">..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513649">20</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">ARTICLE </font><font style="display:inline;color:#000000;">IV </font><font style="display:inline;">MISCELLANEOUS.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513650">21</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.1.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Authority;&nbsp;&nbsp;Effect.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513651">21</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.2.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Notices.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513652">21</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.3.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;color:#000000;">Termination and Effect of Termination</font><font style="display:inline;">..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513653">22</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.4.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Permitted Transferees..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513654">22</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.5.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Remedies.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513655">22</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.6.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;color:#000000;">Amendments</font><font style="display:inline;">.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513656">23</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.7.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Governing Law.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513657">23</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.8.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Consent to Jurisdiction..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513658">23</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.9.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">WAIVER OF JURY TRIAL..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513659">24</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.10.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Merger; Binding Effect, Etc..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513660">24</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.11.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Counterparts..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513661">24</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.12</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">Severability..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513662">24</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Section </font><font style="display:inline;color:#000000;">4.13.</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Calibri;font-size:11pt;"></font><font style="display:inline;">No Recourse..</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"><a href="#_Toc427513663">24</a></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">i</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<a name="Elo1O"></a><font style="display:inline;color:#000000;">This </font><font style="display:inline;">REGISTRATION RIGHTS AGREEMENT (as it may be amended from time to time in accordance with the terms </font><a name="El28O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;">, the &#x201C;</font><a name="ElndO"></a><a name="El36O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Agreement</font><font style="display:inline;">&#x201D;), dated as of August 26, 2015, is made by and among:</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">i.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">AxoGen, Inc., a </font><a name="ElxiO"></a><font style="display:inline;">Minnesota</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;">corporation (the &#x201C;</font><a name="El3gO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Company</font><font style="display:inline;">&#x201D;); and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">ii.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"> Essex Woodlands Fund IX, L.P., a Delaware limited partnership (together with its </font><a name="El2nO"></a><font style="display:inline;color:#000000;">Permitted Transferees </font><font style="display:inline;">that become party hereto, the &#x201C;</font><font style="display:inline;color:#000000;text-decoration:underline;">Purchaser</font><font style="display:inline;">&#x201D;).</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-decoration:none;text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;">
			<a name="Elo52O"></a><font style="display:inline;color:#000000;text-decoration:none;">RECITALS</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;color:#000000;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">WHEREAS, on or about the date hereof, the Company is entering into a Securities Purchase Agreement by and between the Company and the Purchaser (the &#x201C;</font><font style="display:inline;color:#000000;text-decoration:underline;">Purchase Agreement</font><font style="display:inline;color:#000000;">&#x201D;); and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<a name="Elo14O"></a><font style="display:inline;color:#000000;">WHEREAS</font><font style="display:inline;">, the parties believe that it is in the best interests of the </font><a name="El224O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;">and the other parties hereto to set forth their agreements regarding </font><a name="El244O"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;">rights.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<a name="Elo84O"></a><font style="display:inline;color:#000000;">NOW</font><font style="display:inline;">, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" style="width: 100.00pt; display: inline;">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:center;display: inline;padding:0pt 1pt 0pt 0pt;">ARTICLE I</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
			<a name="Eloa4O"></a><a name="Elob4O"></a><a name="_Toc70521236"></a><a name="_Toc70521542"></a><a name="_Toc70522849"></a><a name="_Toc70523328"></a><a name="_Toc70524164"></a><a name="_Toc70537240"></a><a name="_Toc70537608"></a><a name="_Toc70584653"></a><a name="_Toc71608881"></a><a name="_Toc71692461"></a><a name="_Toc72227307"></a><a name="_Toc73377931"></a><a name="_Toc73378781"></a><a name="_Toc73379308"></a><a name="_Toc127691944"></a><a name="_Toc127692788"></a><a name="_Toc127769330"></a><a name="_Toc146466463"></a><a name="_Toc147898554"></a><a name="_Toc147898729"></a><a name="_Toc191455809"></a><a name="_Toc191456003"></a><a name="_Toc192064815"></a><a name="_Toc292238391"></a><a name="_Toc292238440"></a><a name="_Toc292238458"></a><a name="_Toc292313964"></a><a name="_Toc292314084"></a><a name="_Toc292314561"></a><a name="_Toc293335874"></a><a name="_Toc293516335"></a><br /><font style="display:inline;color:#000000;"></font><br /><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">EFFECTIVENESS</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513633"></a><font style="display:inline;color:#000000;"></font><a name="Ellm4O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqg4O"></a><a name="El9e4O"></a><a name="Elqk4O"></a><font style="display:inline;color:#000000;"></font><a name="Elqi4O"></a><font style="display:inline;color:#000000;"></font><a name="El2d4O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 1.1.</font>
			<a name="Elop4O"></a><a name="_Toc191455810"></a><a name="_Toc191456004"></a><a name="_Toc192064816"></a><a name="_Ref292236380"></a><a name="_Toc292238392"></a><font style="display:inline;text-decoration:underline;color:#000000;">Effectiveness</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqz4O"></a><a name="Elqw4O"></a><a name="El9x4O"></a><a name="El9y4O"></a><a name="Elqv4O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513634"></a><font style="display:inline;color:#000000;"></font><a name="Ell05O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2u4O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El2t4O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall become effective upon the Closing Date, as defined in the Purchase Agreement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" style="width: 100.00pt; display: inline;">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:center;display: inline;padding:0pt 1pt 0pt 0pt;">ARTICLE II</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
			<a name="Elo35O"></a><a name="_Toc293516337"></a><a name="_Toc293335876"></a><a name="_Toc292314563"></a><a name="_Toc292314086"></a><a name="_Toc292313967"></a><a name="_Toc292238459"></a><a name="_Toc292238441"></a><a name="_Toc292238393"></a><a name="_Ref292236353"></a><a name="_Toc192064817"></a><a name="_Toc191456005"></a><a name="_Toc191455811"></a><a name="_Toc147898731"></a><a name="_Toc147898556"></a><a name="_Toc146466465"></a><a name="_Toc127769332"></a><a name="_Toc127692790"></a><a name="_Toc127691946"></a><a name="_Toc73379310"></a><a name="_Toc73378783"></a><a name="_Toc73377933"></a><a name="_Toc72227309"></a><a name="_Toc71692463"></a><a name="_Toc71608883"></a><a name="_Toc70584655"></a><a name="_Toc70537610"></a><a name="_Toc70537242"></a><a name="_Toc70524166"></a><a name="_Toc70523330"></a><a name="_Toc70522851"></a><a name="_Toc70521544"></a><a name="_Toc70521238"></a><br /><font style="display:inline;color:#000000;"></font><br /><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">DEFINITIONS</font><a name="_Toc147898732"></a><a name="_Toc147898557"></a><a name="_Toc146466466"></a><a name="_Toc127769333"></a><a name="_Toc127692791"></a><a name="_Toc127691947"></a><a name="_Toc72852768"></a><a name="_Toc71692581"></a><a name="_Toc71692483"></a><a name="_Toc73379311"></a><a name="_Toc73378784"></a><a name="_Toc73377934"></a><a name="_Toc72227310"></a><a name="_Toc71692488"></a><a name="_Toc71608929"></a><a name="_Toc70584706"></a><a name="_Toc70537662"></a><a name="_Toc70537294"></a><a name="_Toc70524231"></a><a name="_Toc70523395"></a><a name="_Toc70522916"></a><a name="_Toc70521609"></a><a name="_Toc70521303"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513635"></a><font style="display:inline;color:#000000;"></font><a name="Ella5O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elq75O"></a><a name="El965O"></a><a name="Elq95O"></a><font style="display:inline;color:#000000;"></font><a name="Elq85O"></a><font style="display:inline;color:#000000;"></font><a name="El255O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 2.1.</font>
			<a name="Elod5O"></a><a name="_Toc191455813"></a><a name="_Toc191456007"></a><a name="_Toc192064819"></a><a name="_Toc292238395"></a><font style="display:inline;text-decoration:underline;color:#000000;">Definitions</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elql5O"></a><a name="Elqj5O"></a><a name="El9i5O"></a><a name="Elqk5O"></a><a name="El2h5O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513636"></a><font style="display:inline;color:#000000;"></font><a name="Ellm5O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2g5O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> As </font><font style="display:inline;color:#000000;">used in this </font><a name="El2f5O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, the following terms shall have the following meanings:</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="Elny5O"></a><a name="El3r5O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Adverse Disclosure</font><font style="display:inline;">&#x201D; means public disclosure of material non-public information that, in the good faith judgment of the board of directors of the </font><a name="El2v5O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">:</font><font style="display:inline;"> (i) would be required to be made in any </font><a name="Elxb6O"></a><a name="El2_5O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;">filed with the </font><a name="El246O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;">by the </font><a name="El286O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;">so that such </font><a name="Elna6O"></a><a name="El236O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;">, from and after its </font><a name="El296O"></a><font style="display:inline;color:#000000;">effective date</font><font style="display:inline;">, does not contain an </font><a name="El9w5O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;">or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; (ii) would not be required to be made at such time but for the </font><font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">1</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">filing, effectiveness or continued use of such </font><a name="El2e6O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;">; and (iii) the </font><a name="El2h6O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;">has a </font><font style="display:inline;text-decoration:underline;">bona</font><font style="display:inline;">&nbsp;</font><font style="display:inline;text-decoration:underline;">fide</font><font style="display:inline;"> business purpose for not disclosing publicly.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3k6O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Affiliate</font><font style="display:inline;">&#x201D; means, with respect to any specified </font><a name="El2p6O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">, (a) any </font><a name="El2s6O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;">that directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common </font><a name="El2u6O"></a><font style="display:inline;color:#000000;">control </font><font style="display:inline;">with, such specified </font><a name="El2t6O"></a><font style="display:inline;color:#000000;">Person</font><a name="_DV_C431"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;">or (b) in the event that the specified </font><a name="El2v6O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;">is a natural </font><a name="El227O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">, a Member of the Immediate Family of such Person; </font><font style="display:inline;text-decoration:underline;">provided</font><font style="display:inline;"> that the </font><a name="El207O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and each</font><font style="display:inline;"> of its subsidiaries shall be deemed not to be </font><a name="El237O"></a><font style="display:inline;color:#000000;">Affiliates </font><font style="display:inline;">of Purchaser.&nbsp;&nbsp;As used in this definition, the term &#x201C;</font><a name="El3n6O"></a><font style="display:inline;color:#000000;">control</font><font style="display:inline;">&#x201D; means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a </font><a name="El2q6O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">, whether through ownership of voting securities, by contract or otherwise.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El277O"></a><a name="Elqc7O"></a><a name="Elqa7O"></a><a name="El987O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Agreement</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="Elqe7O"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in the </font><font style="display:inline;color:#000000;">preamble</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3j7O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Business Day</font><font style="display:inline;">&#x201D; means any day that is not a </font><a name="Elxn7O"></a><font style="display:inline;color:#000000;">Saturday</font><font style="display:inline;">, a </font><a name="Elxo7O"></a><font style="display:inline;color:#000000;">Sunday </font><font style="display:inline;">or other day on which banks are required or authorized by law to be closed in the </font><a name="Elxm7O"></a><font style="display:inline;color:#000000;">City of New York</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&#x201C;</font><a name="El2a8O"></a><a name="El9c8O"></a><a name="Elqb8O"></a><a name="Elqd8O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Common Stock</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><font style="display:inline;color:#000000;">means the common stock of the Company, par value $0.01 per share.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&#x201C;</font><a name="El2s8O"></a><a name="Elqw8O"></a><a name="Elqv8O"></a><a name="El9x8O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9y8O"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ell_8O"></a><font style="display:inline;color:#000000;">3.1.1(a)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="Elnm9O"></a><a name="El2f9O"></a><a name="Elqj9O"></a><a name="Elqi9O"></a><a name="El9k9O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration Request</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9l9O"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Elln9O"></a><font style="display:inline;color:#000000;">3.1.1(a)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="Elna9O"></a><a name="El229O"></a><a name="Elq79O"></a><a name="Elq69O"></a><a name="El989O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration Statement</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El999O"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ellb9O"></a><font style="display:inline;color:#000000;">3.1.1(c)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El2o9O"></a><a name="Elqt9O"></a><a name="Elqs9O"></a><a name="El9u9O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Suspension</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9v9O"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ellx9O"></a><font style="display:inline;color:#000000;">3.1.6.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="ElryaO"></a><a name="El3vaO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Exchange Act</font><font style="display:inline;">&#x201D; means the </font><a name="ElrzaO"></a><font style="display:inline;color:#000000;">Securities Exchange Act of 1934</font><font style="display:inline;">, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3kbO"></a><font style="display:inline;color:#000000;text-decoration:underline;">FINRA</font><font style="display:inline;">&#x201D; means the </font><a name="ElxnbO"></a><font style="display:inline;color:#000000;">Financial Industry Regulatory Authority</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&#x201C;</font><a name="El2xbO"></a><a name="Eln6cO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Issuer Free Writing </font><a name="Elx9cO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Prospectus</font><font style="display:inline;">&#x201D; means an issuer free writing </font><a name="El22cO"></a><font style="display:inline;color:#000000;">prospectus</font><font style="display:inline;">, as defined in Rule 433 under the </font><a name="Elr8cO"></a><a name="El2ybO"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;">, relating to an offer of the </font><a name="El21cO"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="ElqtcO"></a><a name="ElqucO"></a><a name="El9vcO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Loss</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9wcO"></a><font style="display:inline;color:#000000;">s</font><font style="display:inline;">hall have the meaning set forth in Section </font><a name="EllxcO"></a><font style="display:inline;">3.9.1.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Member of the Immediate Family</font><font style="display:inline;">&#x201D; means, with respect to any Person who is an individual, (a) each parent, spouse (but not including a former spouse or a spouse from whom such Person is legally separated) or child (including those adopted) of such individual and (b) each trustee, solely in his or her capacity as trustee, for a trust naming only one or more of the Persons listed in sub-clause (a) as beneficiaries.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3oO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Permitted Transferee</font><font style="display:inline;">&#x201D; means any Affiliate of Purchaser.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&#x201C;</font><a name="El3k1O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Person</font><font style="display:inline;">&#x201D; means any individual, partnership, corporation, </font><a name="El24eO"></a><font style="display:inline;color:#000000;">company</font><font style="display:inline;">, association, trust, joint venture, limited liability </font><a name="El25eO"></a><font style="display:inline;color:#000000;">company</font><font style="display:inline;">, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="ElnseO"></a><a name="El2leO"></a><a name="ElqpeO"></a><a name="ElqoeO"></a><a name="El9qeO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Notice</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9reO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllteO"></a><font style="display:inline;color:#000000;">3.3.1.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El2xeO"></a><a name="Elq0fO"></a><a name="Elq_eO"></a><a name="El91fO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Registration</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El92fO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ell3fO"></a><font style="display:inline;color:#000000;">3.3.1.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&#x201C;</font><a name="El25fO"></a><a name="Elq9fO"></a><a name="Elq8fO"></a><a name="El9afO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Potential Takedown Participant</font><font style="display:inline;color:#000000;text-decoration:underline;">&#x201D;</font><font style="display:inline;color:#000000;">&nbsp;</font><a name="El9bfO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllcfO"></a><font style="display:inline;color:#000000;">3.2.5(b)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&#x201C;</font><a name="El33cO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Prospectus</font><font style="display:inline;">&#x201D; means (i) the prospectus included in any </font><a name="El2rgO"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;">, all amendments and supplements to such prospectus, </font><a name="El2sgO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">post-effective amendments and supplements, and all other material incorporated by reference in such prospectus, and </font><a name="Elo5cO"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;">any Issuer Free Writing Prospectus.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3r3O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Public Offering</font><font style="display:inline;">&#x201D; means the offer and sale of </font><a name="El2xgO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;">for cash pursuant to an effective </font><a name="El2ygO"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;">under the </font><a name="El2zgO"></a><a name="Elr1hO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(other than a </font><a name="El2_gO"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">on Form </font><a name="Elx5hO"></a><font style="display:inline;color:#000000;">S-4 </font><font style="display:inline;color:#000000;">or Form </font><a name="Elx6hO"></a><font style="display:inline;color:#000000;">S-8 </font><font style="display:inline;color:#000000;">or any successor form)</font><font style="display:inline;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Purchase Agreement</font><font style="display:inline;">&#x201D; shall have the meaning ascribed to such term in the preamble.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3o1O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registrable Securities</font><font style="display:inline;">&#x201D; means </font><a name="ElonhO"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;">all shares of </font><a name="El2phO"></a><a name="El2ohO"></a><font style="display:inline;color:#000000;">Common Stock </font><font style="display:inline;">that are not then subject to forfeiture to the Company, </font><a name="ElorhO"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;">all shares of </font><a name="El2whO"></a><a name="El2shO"></a><font style="display:inline;color:#000000;">Common Stock </font><font style="display:inline;">issuable upon exercise, conversion or </font><a name="El2_hO"></a><font style="display:inline;color:#000000;">exchange </font><font style="display:inline;">of any option, warrant or convertible security not then subject to vesting or forfeiture to the Company and (iii) all shares of </font><a name="El23iO"></a><a name="El22iO"></a><font style="display:inline;color:#000000;">Common Stock </font><font style="display:inline;">directly or indirectly issued or then issuable with respect to the securities referred to in clauses </font><a name="Ell4iO"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;">or </font><a name="Ell5iO"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;">above by way of a stock dividend or stock split, or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization.&nbsp;&nbsp;As to any particular </font><a name="El2ghO"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;">, such securities shall cease to be </font><a name="El2hhO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;">when (w) a </font><a name="El27iO"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;">with respect to the sale of such securities shall have become effective under the </font><a name="El28iO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;">and such securities shall have been disposed of in accordance with such </font><a name="El29iO"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;">, (x) such securities shall have been </font><a name="El2giO"></a><font style="display:inline;color:#000000;">Transferred</font><font style="display:inline;"> pursuant to </font><a name="El2hiO"></a><font style="display:inline;color:#000000;">Rule 144</font><font style="display:inline;">, (y) </font><font style="display:inline;">such </font><a name="El2oiO"></a><font style="display:inline;color:#000000;">holder </font><font style="display:inline;">is able to immediately sell such securities under Rule 144 without any restrictions on </font><a name="El2xiO"></a><font style="display:inline;color:#000000;">transfer </font><font style="display:inline;">(</font><a name="El2siO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">without application of paragraphs (c), (d), (e), (f) and (h) of </font><a name="El2riO"></a><font style="display:inline;color:#000000;">Rule 144</font><font style="display:inline;">), as reasonably determined by Purchaser, or (z) such securities shall have ceased to be outstanding.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El354O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration</font><font style="display:inline;">&#x201D; means registration under the </font><a name="El26jO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;">of the offer and sale to the public of any </font><a name="El27jO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;">under a </font><a name="El28jO"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;">.&nbsp;&nbsp;The terms &#x201C;</font><font style="display:inline;text-decoration:underline;">register</font><font style="display:inline;">&#x201D;, &#x201C;</font><font style="display:inline;text-decoration:underline;">registered</font><font style="display:inline;">&#x201D; and &#x201C;</font><font style="display:inline;text-decoration:underline;">registering</font><font style="display:inline;">&#x201D; shall have correlative meanings.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El2cjO"></a><a name="ElqhjO"></a><a name="ElqgjO"></a><a name="El9ijO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration Expenses</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9jjO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllkjO"></a><font style="display:inline;color:#000000;">3.8.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El306O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration Statement</font><font style="display:inline;">&#x201D; means any registration statement of the </font><a name="El2ojO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;">filed with, or to be filed with, the </font><a name="El2pjO"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;">under the </font><a name="El2qjO"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;">, &nbsp;</font><a name="El2tjO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">the related </font><a name="El2rjO"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;">, amendments and supplements to such registration statement, </font><a name="El2ujO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement other </font><font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">than a registration statement (and related </font><a name="El2sjO"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;">) filed on Form S-4 or Form S-8 or any successor form thereto.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El33kO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Representatives</font><font style="display:inline;">&#x201D; means, with respect to any </font><a name="El25kO"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">, any of such </font><a name="El26kO"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">&#x2019;s officers, directors, employees, agents, attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other </font><a name="El27kO"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;">associated with, or acting on behalf of, such </font><a name="El28kO"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3iiO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Rule 144</font><font style="display:inline;">&#x201D; means </font><a name="Elr7lO"></a><a name="El25lO"></a><font style="display:inline;color:#000000;">Rule 144 </font><font style="display:inline;">under the </font><a name="El24lO"></a><a name="Elr8lO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(or any successor rule)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El356O"></a><font style="display:inline;color:#000000;text-decoration:underline;">SEC</font><font style="display:inline;">&#x201D; means the </font><a name="ElxclO"></a><font style="display:inline;color:#000000;">Securities and Exchange Commission </font><font style="display:inline;">or any successor agency having jurisdiction under the </font><a name="El2alO"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3zbO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Securities Act</font><font style="display:inline;">&#x201D; means the </font><a name="El2flO"></a><a name="ElrhlO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">of 1933</font><font style="display:inline;">, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><font style="display:inline;text-decoration:underline;">Selling Stockholder Information</font><font style="display:inline;">&#x201D; &nbsp;</font><font style="display:inline;color:#000000;">shall have the meaning set forth in</font><font style="display:inline;"> Section 3.9.1.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&#x201C;</font><a name="El2jlO"></a><a name="ElqnlO"></a><a name="ElqmlO"></a><a name="El9olO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Period</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9plO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllqlO"></a><font style="display:inline;color:#000000;">3.2.3.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El2ulO"></a><a name="ElqylO"></a><a name="ElqxlO"></a><a name="El9zlO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9_lO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ell0mO"></a><font style="display:inline;color:#000000;">3.2.1(a)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&#x201C;</font><a name="ElnmmO"></a><a name="El2fmO"></a><a name="ElqjmO"></a><a name="ElqimO"></a><a name="El9kmO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration Request</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9lmO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllnmO"></a><font style="display:inline;color:#000000;">3.2.1(a)</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="ElnwmO"></a><a name="El2pmO"></a><a name="ElqtmO"></a><a name="ElqsmO"></a><a name="El9umO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration Statement</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9vmO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="EllxmO"></a><font style="display:inline;color:#000000;">3.2.1(a)</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El2_mO"></a><a name="Elq4nO"></a><a name="Elq3nO"></a><a name="El95nO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Suspension</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El96nO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="Ell7nO"></a><font style="display:inline;color:#000000;">3.2.4.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&#x201C;</font><a name="ElnsnO"></a><a name="El2lnO"></a><a name="ElqpnO"></a><a name="ElqonO"></a><a name="El9qnO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Takedown Request</font><font style="display:inline;color:#000000;">&#x201D; &nbsp;</font><a name="El9rnO"></a><font style="display:inline;color:#000000;">shall have the meaning set forth in Section </font><a name="ElltnO"></a><font style="display:inline;color:#000000;">3.2.5(a)</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3uiO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Transfer</font><font style="display:inline;">&#x201D; means, with respect to any </font><a name="El26oO"></a><font style="display:inline;color:#000000;">Registrable Security</font><font style="display:inline;">, any interest therein, or any other securities or equity interests relating thereto, a direct or indirect transfer, sale, </font><a name="El28oO"></a><font style="display:inline;color:#000000;">exchange</font><font style="display:inline;">, assignment, pledge, hypothecation or other encumbrance or other disposition thereof, </font><a name="El27oO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. &#x201C;</font><font style="display:inline;text-decoration:underline;">Transferred</font><font style="display:inline;">&#x201D; shall have a correlative meaning.&nbsp; </font>
		</p>
		<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3boO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Underwritten Public Offering</font><font style="display:inline;">&#x201D; means an </font><a name="El2foO"></a><font style="display:inline;color:#000000;">underwritten </font><a name="El2doO"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;">, &nbsp;</font><a name="El2hoO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">any bought deal or block sale to a financial institution conducted as an </font><a name="El2goO"></a><font style="display:inline;color:#000000;">underwritten </font><a name="El2eoO"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&#x201C;</font><a name="El3koO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Underwritten Shelf Takedown</font><font style="display:inline;">&#x201D; means an </font><a name="El2poO"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El2noO"></a><font style="display:inline;color:#000000;">Public Offering </font><font style="display:inline;">pursuant to an effective </font><a name="El2ooO"></a><font style="display:inline;color:#000000;">Shelf Registration Statement</font><font style="display:inline;">. &nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&#x201C;</font><font style="display:inline;color:#000000;text-decoration:underline;">UFRF Agreement</font><font style="display:inline;color:#000000;">&#x201D; shall have the meaning set forth in Section 3.7.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&#x201C;</font><a name="El3_oO"></a><font style="display:inline;color:#000000;text-decoration:underline;">WKSI</font><font style="display:inline;">&#x201D; means any </font><a name="El21pO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;">registrant that is a well-known seasoned issuer as defined in Rule 405 under the </font><a name="El22pO"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;">at the most recent eligibility determination date specified in paragraph (2) of that definition.</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 2.2.</font>
			<a name="Elo7pO"></a><a name="_Toc191455812"></a><a name="_Toc191456006"></a><a name="_Toc192064818"></a><a name="_Toc292238394"></a><font style="display:inline;text-decoration:underline;color:#000000;">Other Interpretive Provisions</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="ElqepO"></a><a name="ElqbpO"></a><a name="ElqapO"></a><a name="El9cpO"></a><a name="ElqdpO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513637"></a><font style="display:inline;color:#000000;"></font><a name="EllfpO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El29pO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><a name="EloipO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;color:#000000;">The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.</font></p></td></tr></table></div><a name="ElojpO"></a>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;">The words &#x201C;</font><a name="El39O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;">&#x201D;, &#x201C;</font><a name="El3mpO"></a><font style="display:inline;color:#000000;">herein</font><font style="display:inline;">&#x201D;, &#x201C;</font><a name="El3kpO"></a><font style="display:inline;color:#000000;">hereunder</font><font style="display:inline;">&#x201D; and similar words refer to this </font><a name="El2opO"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;">as a whole and not to any particular provision of this </font><a name="El2ppO"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;">; and any subsection and section references are to this </font><a name="El2qpO"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;">unless otherwise specified.</font>
		</p><a name="ElospO"></a>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;">The term &#x201C;</font><a name="El3adO"></a><font style="display:inline;color:#000000;">including</font><font style="display:inline;">&#x201D; is not limiting and means &#x201C;</font><a name="El2tpO"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;">without limitation.&#x201D;</font>
		</p><a name="ElovpO"></a>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;">The captions and headings of this </font><a name="El2wpO"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;">are for convenience of reference only and shall not affect the interpretation of this </font><a name="El2xpO"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;">.</font>
		</p><a name="ElozpO"></a>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;">Whenever the context requires, any pronouns used </font><a name="El2_pO"></a><font style="display:inline;color:#000000;">herein </font><font style="display:inline;">shall include the corresponding masculine, feminine or neuter forms.</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" style="width: 100.00pt; display: inline;">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:center;display: inline;padding:0pt 1pt 0pt 0pt;">ARTICLE III</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
			<a name="Elo1qO"></a><a name="_Toc292314566"></a><a name="_Toc293335879"></a><a name="_Toc293516344"></a><a name="_Toc70521318"></a><a name="_Toc70521624"></a><a name="_Toc70522931"></a><a name="_Toc70523410"></a><a name="_Toc70524246"></a><a name="_Toc70537310"></a><a name="_Toc70537678"></a><a name="_Toc70584722"></a><a name="_Toc71602794"></a><a name="_Toc71603770"></a><a name="_Toc71604794"></a><a name="_Toc71692367"></a><a name="_Toc72227324"></a><a name="_Toc73377948"></a><a name="_Toc73378798"></a><a name="_Toc73379325"></a><a name="_Toc127691954"></a><a name="_Toc127692796"></a><a name="_Toc127769338"></a><a name="_Toc146466467"></a><a name="_Toc147898558"></a><a name="_Toc147898733"></a><a name="_Toc191455815"></a><a name="_Toc191456008"></a><a name="_Toc192064820"></a><a name="_Ref292236421"></a><a name="_Ref292236473"></a><a name="_Ref292237168"></a><a name="_Ref292237216"></a><a name="_Ref292237350"></a><a name="_Ref292237392"></a><a name="_Toc292238396"></a><a name="_Toc292238442"></a><a name="_Toc292238460"></a><a name="_Toc292313971"></a><a name="_Toc292314089"></a><a name="_Toc70522969"></a><a name="_Toc70523448"></a><a name="_Toc70524284"></a><a name="_Toc70537343"></a><a name="_Toc70537711"></a><a name="_Toc70584755"></a><a name="_Toc71608948"></a><a name="_Toc71692508"></a><br /><font style="display:inline;color:#000000;"></font><br /><font style="display:inline;color:#000000;"></font><a name="El23qO"></a><font style="display:inline;color:#000000;">REGISTRATION </font><font style="display:inline;color:#000000;">RIGHTS</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513638"></a><font style="display:inline;color:#000000;"></font><a name="Ell9qO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elq5qO"></a><a name="El96qO"></a><a name="Elq8qO"></a><font style="display:inline;color:#000000;"></font><a name="Elq7qO"></a><font style="display:inline;color:#000000;"></font><a name="El24qO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">The </font><a name="El2dqO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;">will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to it.&nbsp; </font><a name="El2eqO"></a><font style="display:inline;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;">will perform and comply with such of the following provisions as are applicable to Purchaser.</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.1.</font>
			<a name="ElohqO"></a><a name="Elo7aO"></a><a name="El2isO"></a><a name="_Ref292314883"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513639"></a><font style="display:inline;color:#000000;"></font><a name="EllqsO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2jsO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="ElqlsO"></a><a name="ElqmsO"></a><a name="ElqosO"></a><a name="ElqpsO"></a><font style="display:inline;color:#000000;"></font><a name="El9nsO"></a><font style="display:inline;color:#000000;"></font><a name="El2ksO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.1.1.</font>
			<a name="ElousO"></a><font style="display:inline;text-decoration:underline;color:#000000;">Request for Demand Registration</font><font style="display:inline;color:#000000;">.</font><a name="_Ref292314713"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> (a)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elo09O"></a><a name="_Ref292314792"></a><font style="display:inline;color:#000000;">At any time six (6) months after the date of this Agreement, </font><a name="El22tO"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall have the right to make a written request from time to time (a &#x201C;</font><a name="El3g9O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration Request</font><font style="display:inline;color:#000000;">&#x201D;) to the </font><a name="El2ysO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">for </font><a name="El23tO"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">of all or part of the </font><a name="El2zsO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">held by Purchaser.</font><font style="display:inline;color:#000000;">&nbsp;</font><a name="_Ref292318382"></a><font style="display:inline;color:#000000;">Any such </font><a name="El20tO"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">pursuant to a </font><a name="El21tO"></a><font style="display:inline;color:#000000;">Demand Registration Request </font><font style="display:inline;color:#000000;">shall hereinafter be referred to as a &#x201C;</font><a name="El3t8O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration</font><font style="display:inline;color:#000000;">&#x201D;.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (b)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">Each </font><a name="El2atO"></a><font style="display:inline;color:#000000;">Demand Registration Request </font><font style="display:inline;color:#000000;">shall specify (x) the kind and aggregate amount of </font><a name="El2etO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to be registered, provided that the anticipated net proceeds from the Registrable Securities to be registered must be at least $4,375,000</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">, and (y) the intended method or </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">methods of disposition thereof.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> (c)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Eloc9O"></a><a name="_Ref292318648"></a><font style="display:inline;color:#000000;">Upon receipt of a </font><a name="El2gtO"></a><font style="display:inline;color:#000000;">Demand Registration Request</font><font style="display:inline;color:#000000;">, the </font><a name="El2htO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall as promptly as practicable file a </font><a name="El2itO"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">(a &#x201C;</font><a name="El339O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registration Statement</font><font style="display:inline;color:#000000;">&#x201D;) relating to such Demand Registration, </font><a name="ElqptO"></a><font style="display:inline;color:#000000;">and </font><a name="El9otO"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to cause such </font><a name="El2mtO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">to be promptly declared effective under the </font><a name="El2ntO"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.1.2.</font>
			<a name="Elo_tO"></a><a name="_Ref292314982"></a><font style="display:inline;text-decoration:underline;color:#000000;">Limitation on </font><a name="El26uO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registrations</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">T</font><font style="display:inline;color:#000000;">he </font><a name="El21uO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be obligated to take any action to effect any </font><a name="El22uO"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">if a </font><a name="El23uO"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">was declared effective or an </font><a name="El24uO"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown requested by Purchaser </font><font style="display:inline;color:#000000;">was consummated within the preceding ninety (90) days.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.1.3.</font>
			<a name="Elop8O"></a><a name="Elo4vO"></a><font style="display:inline;text-decoration:underline;color:#000000;">Demand Withdrawal</font><font style="display:inline;color:#000000;">.&nbsp; </font><a name="EllnvO"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">may withdraw all or any portion of its </font><a name="El2avO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">included in a </font><a name="El2bvO"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">from such </font><a name="El2cvO"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">at any time prior to the effectiveness of the applicable </font><a name="El2dvO"></a><font style="display:inline;color:#000000;">Demand Registration Statement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Upon receipt of a notice to such effect from Purchaser with respect to all of </font><a name="El2hvO"></a><font style="display:inline;color:#000000;">its </font><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">included in such </font><a name="El2jvO"></a><font style="display:inline;color:#000000;">Demand Registration</font><font style="display:inline;color:#000000;">, the </font><a name="El2kvO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall cease all efforts to secure effectiveness of the applicable </font><a name="El2lvO"></a><font style="display:inline;color:#000000;">Demand Registration Statement</font><font style="display:inline;color:#000000;">. &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.1.4.</font>
			<a name="ElovvO"></a><a name="_Ref292315533"></a><font style="display:inline;text-decoration:underline;color:#000000;">Effective </font><a name="El2xvO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The </font><a name="El2yvO"></a><font style="display:inline;color:#000000;">Company </font><a name="Elq6wO"></a><font style="display:inline;color:#000000;">shall </font><a name="Elq7wO"></a><font style="display:inline;color:#000000;">use reasonable best efforts </font><font style="display:inline;color:#000000;">to cause the </font><a name="El2zvO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">to become effective and remain effective for not less than one hundred eighty (180) days (or such shorter period as will terminate when all </font><a name="El2_vO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by such </font><a name="El20wO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">have been sold or withdrawn), or, if such </font><a name="El21wO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">relates to an </font><a name="El25wO"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El22wO"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, such longer period as in the opinion of counsel for the underwriter or underwriters a </font><a name="El23wO"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">is required by law to be delivered in connection with sales of </font><a name="El24wO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">by an underwriter or dealer.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.1.5.</font>
			<a name="Eloy9O"></a><a name="_Ref292318761"></a><font style="display:inline;text-decoration:underline;color:#000000;">Delay in Filing; Suspension of </font><a name="El2iwO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If the filing, initial effectiveness or continued use of a </font><a name="El2jwO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">at any time would require the </font><a name="El2kwO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to make an </font><a name="El2lwO"></a><font style="display:inline;color:#000000;">Adverse Disclosure</font><font style="display:inline;color:#000000;">, the </font><a name="El2mwO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may, upon giving prompt written notice of such action to Purchaser, delay the filing or initial effectiveness of, or suspend use of, the </font><a name="El2owO"></a><font style="display:inline;color:#000000;">Demand Registration Statement </font><font style="display:inline;color:#000000;">(a &#x201C;</font><a name="El3p9O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Suspension</font><font style="display:inline;color:#000000;">&#x201D;); </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">however</font><font style="display:inline;color:#000000;">, that the </font><a name="El2pwO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be permitted to exercise a </font><a name="El2qwO"></a><font style="display:inline;color:#000000;">Demand Suspension </font><font style="display:inline;color:#000000;">more than once during any twelve (12)-month period for a period not to exceed sixty (60) days.&nbsp;&nbsp;In the case of a </font><a name="El2rwO"></a><font style="display:inline;color:#000000;">Demand Suspension</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El2swO"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">agrees to suspend use of the applicable </font><a name="El2twO"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">in connection with any sale or purchase, or offer to sell or purchase, </font><a name="El2uwO"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, upon receipt of the notice referred to above.&nbsp;&nbsp;The </font><a name="El2vwO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall immediately notify </font><a name="El2wwO"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">in writing </font><font style="display:inline;color:#000000;">upon the termination of any </font><a name="El2xwO"></a><font style="display:inline;color:#000000;">Demand Suspension</font><font style="display:inline;color:#000000;">, amend or supplement the </font><a name="El2ywO"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, if necessary, so it does not contain any untrue statement or omission and furnish to Purchaser</font><a name="El2zwO"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">such numbers of copies of the </font><a name="El2_wO"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">as so amended or supplemented as Purchaser</font><a name="El20xO"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">may reasonably request.&nbsp;&nbsp;The </font><a name="El21xO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall, if necessary, supplement or amend the </font><a name="El22xO"></a><font style="display:inline;color:#000000;">Demand Registration Statement</font><font style="display:inline;color:#000000;">, if required by the </font><a name="El29xO"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">form used by the </font><a name="El23xO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">for the </font><a name="El24xO"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">or by the instructions applicable to such </font><a name="El2axO"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">form or by the </font><a name="El25xO"></a><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">or the rules or regulations promulgated thereunder or as may reasonably be requested by the </font><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.2.</font>
			<a name="EloyxO"></a><a name="ElouyO"></a><a name="Elo3zO"></a><a name="El25zO"></a><a name="_Ref292314894"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513640"></a><font style="display:inline;color:#000000;"></font><a name="ElldzO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El26zO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elq8zO"></a><a name="Elq9zO"></a><a name="ElqbzO"></a><a name="ElqczO"></a><font style="display:inline;color:#000000;"></font><a name="El9azO"></a><font style="display:inline;color:#000000;"></font><a name="El27zO"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.2.1.</font>
			<a name="ElogzO"></a><font style="display:inline;text-decoration:underline;color:#000000;">Request for Shelf Registration</font><font style="display:inline;color:#000000;">.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> (a)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elo1mO"></a><font style="display:inline;color:#000000;">At any time six (6) months after the date of this Agreement, upon the written request of </font><a name="El2jzO"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">from time to time (a &#x201C;</font><a name="El3gmO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration Request</font><font style="display:inline;color:#000000;">&#x201D;), the </font><a name="El2lzO"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall promptly file with the </font><a name="El2mzO"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">a shelf Registration Statement pursuant to </font><a name="Elr_zO"></a><font style="display:inline;color:#000000;">Rule 415 </font><font style="display:inline;color:#000000;">under the </font><a name="El2nzO"></a><font style="display:inline;color:#000000;">Securities Act&nbsp; </font><font style="display:inline;color:#000000;">(&#x201C;</font><a name="El3qmO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration Statement</font><font style="display:inline;color:#000000;">&#x201D;) relating to the offer and sale of </font><a name="El2ozO"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">by Purchaser from time to time in accordance with the methods of distribution elected by </font><a name="El2qzO"></a><font style="display:inline;color:#000000;">Purchaser,</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and the </font><a name="El2rzO"></a><font style="display:inline;color:#000000;">Company </font><a name="El9xzO"></a><font style="display:inline;color:#000000;">shall </font><a name="El9yzO"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to cause such </font><a name="El2szO"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">to promptly become effective under the </font><a name="El2tzO"></a><font style="display:inline;color:#000000;">Securities Ac</font><font style="display:inline;color:#000000;">t</font><font style="display:inline;color:#000000;">. Any such </font><a name="El2uzO"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">pursuant to a </font><a name="El2vzO"></a><font style="display:inline;color:#000000;">Shelf Registration Request </font><font style="display:inline;color:#000000;">shall hereinafter be referred to as a &#x201C;</font><a name="El3vlO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Registration</font><font style="display:inline;color:#000000;">.&#x201D;&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> (b)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">If on the date of the </font><a name="El2d_O"></a><font style="display:inline;color:#000000;">Shelf Registration Request</font><font style="display:inline;color:#000000;"> the </font><a name="El2l_O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">is a </font><a name="El2m_O"></a><font style="display:inline;color:#000000;">WKSI</font><font style="display:inline;color:#000000;">, then the </font><a name="El2n_O"></a><font style="display:inline;color:#000000;">Shelf Registration Request </font><font style="display:inline;color:#000000;">may request </font><a name="El2o_O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">of an unspecified amount of </font><a name="El2p_O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;"> to be sold by unspecified holders. </font><font style="display:inline;color:#000000;">If on the date of the </font><font style="display:inline;color:#000000;">Shelf Registration Request</font><font style="display:inline;color:#000000;"> the </font><a name="El2s_O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">is not a </font><a name="El2t_O"></a><font style="display:inline;color:#000000;">WKSI</font><font style="display:inline;color:#000000;">, then the </font><a name="El2u_O"></a><font style="display:inline;color:#000000;">Shelf Registration Request </font><font style="display:inline;color:#000000;">shall specify the aggregate amount of </font><a name="El2v_O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to be registered. The </font><a name="El2e_O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall provide to </font><a name="El2f_O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">the information necessary to determine the </font><a name="El2g_O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s status as a </font><a name="El2h_O"></a><font style="display:inline;color:#000000;">WKSI </font><font style="display:inline;color:#000000;">upon request.</font><a name="_Ref292315541"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.2.2.</font>
			<a name="ElocmO"></a><a name="ElorlO"></a><font style="display:inline;text-decoration:underline;color:#000000;">Continued Effectiveness</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The </font><a name="El2j01O"></a><font style="display:inline;color:#000000;">Company </font><a name="El9y01O"></a><font style="display:inline;color:#000000;">shall </font><a name="El9z01O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to keep such </font><a name="El2k01O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">continuously effective under the </font><a name="El2l01O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">in order to permit the </font><a name="El2m01O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">forming part of the </font><a name="El2n01O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">to be usable by </font><font style="display:inline;color:#000000;">Purchaser </font><font style="display:inline;color:#000000;">until the earlier of: (i)&nbsp;the date as of which all </font><a name="El2f11O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">have been sold pursuant to the </font><a name="El2g11O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">or another </font><a name="El2h11O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">filed under the </font><a name="El2i11O"></a><a name="Elrl11O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder)</font><font style="display:inline;color:#000000;">; and (ii)&nbsp;the date as of which Purchaser no longer holds </font><a name="El2r11O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">(such period of effectiveness, the &#x201C;</font><a name="El3klO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Period</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp;&nbsp;Subject to Section </font><a name="Ell411O"></a><font style="display:inline;color:#000000;">3.2.4</font><font style="display:inline;color:#000000;">, the </font><a name="El2u01O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall be deemed not to have </font><a name="Elq_01O"></a><font style="display:inline;color:#000000;">used its reasonable best efforts </font><font style="display:inline;color:#000000;">to keep the </font><a name="El2p01O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">effective during the </font><a name="El2v01O"></a><font style="display:inline;color:#000000;">Shelf Period </font><font style="display:inline;color:#000000;">if the </font><a name="El2w01O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">voluntarily takes any action or omits to take any action that would result in </font><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;"> not being able to offer and sell any </font><a name="El2r01O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">pursuant to such </font><a name="El2s01O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">during the </font><a name="El2t01O"></a><font style="display:inline;color:#000000;">Shelf Period</font><font style="display:inline;color:#000000;">, unless such action or omission is required by applicable law.</font><a name="_Ref292315156"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.2.3.</font>
			<a name="Elo8nO"></a><font style="display:inline;text-decoration:underline;color:#000000;"> Suspension of </font><a name="El2s11O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If the continued use of such </font><a name="El2t11O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">at any time would require the </font><a name="El2u11O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to make an </font><a name="El2v11O"></a><font style="display:inline;color:#000000;">Adverse Disclosure</font><font style="display:inline;color:#000000;">, the </font><a name="El2w11O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may, upon giving prompt written notice of such action to </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">Purchaser, suspend use of the </font><a name="El2x11O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">(a &#x201C;</font><a name="El30nO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Suspension</font><font style="display:inline;color:#000000;">&#x201D;); </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">however</font><font style="display:inline;color:#000000;">, that the </font><a name="El2y11O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be permitted to exercise a </font><a name="El2z11O"></a><font style="display:inline;color:#000000;">Shelf Suspension </font><font style="display:inline;color:#000000;">more than one time during any twelve (12)-month period for a period not to exceed sixty (60) days.&nbsp;&nbsp;In the case of a </font><a name="El2_11O"></a><font style="display:inline;color:#000000;">Shelf Suspension</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El2f21O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">agrees to suspend use of the applicable </font><a name="El2021O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">in connection with any sale or purchase of, or offer to sell or purchase, </font><a name="El2121O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, upon receipt of the notice referred to above.&nbsp;&nbsp;The </font><a name="El2221O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall immediately notify </font><a name="El2321O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">in writing </font><font style="display:inline;color:#000000;">upon the termination of any </font><a name="El2421O"></a><font style="display:inline;color:#000000;">Shelf Suspension</font><font style="display:inline;color:#000000;">, amend or supplement the </font><a name="El2521O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, if necessary, so it does not contain any untrue statement or omission and furnish to </font><a name="El2621O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">such numbers of copies of the </font><a name="El2721O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">as so amended or supplemented as </font><a name="El2821O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">may reasonably request.&nbsp;&nbsp;The </font><a name="El2921O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall, if necessary, supplement or amend the </font><a name="El2a21O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement</font><font style="display:inline;color:#000000;">, if required by the </font><a name="El2g21O"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">form used by the </font><a name="El2b21O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">for the </font><a name="El2c21O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">or by the instructions applicable to such </font><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">form or by the </font><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">or the rules or regulations promulgated thereunder or as may reasonably be requested by Purchaser.</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.2.4.</font>
			<a name="Elo031O"></a><a name="_Ref292315182"></a><font style="display:inline;text-decoration:underline;color:#000000;">Shelf Takedown</font><font style="display:inline;color:#000000;">.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> (a)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="ElounO"></a><font style="display:inline;color:#000000;">At any time the </font><a name="El2331O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">has an effective </font><a name="El2431O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><a name="El2f31O"></a><font style="display:inline;color:#000000;">with respect to </font><a name="El2531O"></a><font style="display:inline;color:#000000;">Purchaser&#x2019;s </font><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, by notice to the </font><a name="El2631O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">specifying the intended method or methods of disposition thereof, Purchaser may make a written request (a &#x201C;</font><a name="El3mnO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Shelf Takedown Request</font><font style="display:inline;color:#000000;">&#x201D;) to the </font><a name="El2831O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to effect a </font><a name="El2931O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El2h31O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">an </font><a name="El2a31O"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> of all or a portion of such </font><a name="El2b31O"></a><font style="display:inline;color:#000000;">Purchaser&#x2019;s</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">that may be registered under such </font><a name="El2c31O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement</font><font style="display:inline;color:#000000;">, and as soon as practicable the </font><a name="El2d31O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall amend or supplement the </font><a name="El2e31O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement as necessary </font><font style="display:inline;color:#000000;">for such purpose.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (b)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elo3eO"></a><font style="display:inline;color:#000000;">A</font><font style="display:inline;font-family:inherit;color:#000000;">ll determinations as to whether to complete any </font><a name="El2h41O"></a><font style="display:inline;font-family:inherit;color:#000000;">Underwritten Shelf Takedown </font><font style="display:inline;font-family:inherit;color:#000000;">and as to the timing, manner, price and other terms of any </font><a name="El2i41O"></a><font style="display:inline;font-family:inherit;color:#000000;">Underwritten Shelf Takedown </font><font style="display:inline;font-family:inherit;color:#000000;">contemplated by this Section </font><a name="Ell_41O"></a><font style="display:inline;font-family:inherit;color:#000000;">3.2.5 </font><font style="display:inline;font-family:inherit;color:#000000;">shall be determined by the </font><a name="Ell051O"></a><font style="display:inline;font-family:inherit;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> (c)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">The </font><a name="El2551O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be obligated to take any action to effect any </font><a name="El2651O"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown </font><font style="display:inline;color:#000000;">if (x) the anticipated net proceeds from the Registrable Securities to be sold are not at least $4,375,000, or (y) a </font><a name="El2751O"></a><font style="display:inline;color:#000000;">Demand Registration was declared effective </font><font style="display:inline;color:#000000;">or an </font><a name="El2851O"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown </font><font style="display:inline;color:#000000;">requested by Purchaser </font><font style="display:inline;color:#000000;">was consummated within the preceding ninety (90) days.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.3.</font>
			<a name="Elod51O"></a><a name="Elo461O"></a><a name="Eloe61O"></a><a name="El2g61O"></a><a name="_Ref292315335"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Registration</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513641"></a><font style="display:inline;color:#000000;"></font><a name="Ello61O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2h61O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqj61O"></a><a name="Elqk61O"></a><a name="Elqm61O"></a><a name="Elqn61O"></a><font style="display:inline;color:#000000;"></font><a name="El9l61O"></a><font style="display:inline;color:#000000;"></font><a name="El2i61O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.3.1.</font>
			<a name="EloueO"></a><a name="_Ref292315294"></a><font style="display:inline;text-decoration:underline;color:#000000;">Participation</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If the </font><a name="El2r61O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">at any time proposes to file a </font><a name="El2s61O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">under the </font><a name="El2t61O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">or to conduct a </font><a name="El2u61O"></a><font style="display:inline;color:#000000;">Public Offering </font><font style="display:inline;color:#000000;">with respect to any offering of its equity securities for its own account or for the account of </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">any other </font><a name="El2v61O"></a><font style="display:inline;color:#000000;">Persons </font><font style="display:inline;color:#000000;">(other than (i)&nbsp;a </font><a name="El2h81O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">under Sections </font><a name="Elli81O"></a><font style="display:inline;color:#000000;">3.1</font><font style="display:inline;color:#000000;"> or 3.2, (ii)&nbsp;a </font><a name="El2k81O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">on Form S-4 or Form S-8 or any successor form to such forms or (iii)&nbsp;a </font><a name="El2o81O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">of securities solely relating to an offering and sale to employees or directors of the </font><a name="El2p81O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or its subsidiaries pursuant to any employee stock plan or other employee benefit plan arrangement), then, as soon as practicable (but in no event less than ten (10) </font><a name="El2q81O"></a><font style="display:inline;color:#000000;">Business Days </font><font style="display:inline;color:#000000;">prior to the proposed date of filing of such </font><a name="El2r81O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or, in the case of a Public Offering under a Shelf Registration Statement, the anticipated pricing or trade date), the </font><a name="El2t81O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall give written notice (a &#x201C;</font><a name="El3meO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Notice</font><font style="display:inline;color:#000000;">&#x201D;) of such proposed filing or </font><a name="El2u81O"></a><font style="display:inline;color:#000000;">Public Offering </font><font style="display:inline;color:#000000;">to Purchaser, and such </font><a name="El2v81O"></a><font style="display:inline;color:#000000;">Piggyback Notice </font><font style="display:inline;color:#000000;">shall offer </font><a name="El2091O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">the opportunity to register under such </font><a name="El2x81O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">, or to sell in such </font><a name="El2y81O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, such number of </font><a name="El2z81O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">as Purchaser may request in writing (a &#x201C;</font><a name="El3yeO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Registration</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp;&nbsp;Subject to Section </font><a name="Ellx71O"></a><font style="display:inline;color:#000000;">3.3.2</font><font style="display:inline;color:#000000;">, the </font><a name="El2k71O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall include in such </font><a name="El2w61O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or in such </font><a name="El2x61O"></a><font style="display:inline;color:#000000;">Public Offering </font><font style="display:inline;color:#000000;">as applicable, </font><font style="display:inline;color:#000000;">all such </font><a name="El2y61O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">that are requested to be included </font><a name="El9u71O"></a><font style="display:inline;color:#000000;">therein within seven (7) </font><a name="El2z61O"></a><font style="display:inline;color:#000000;">Business Days </font><font style="display:inline;color:#000000;">after </font><font style="display:inline;color:#000000;">the receipt from </font><a name="El2_61O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">of any such notice; </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">however</font><font style="display:inline;color:#000000;">, that if at any time after giving written notice of its intention to register or sell any securities and prior to the </font><a name="El2t71O"></a><font style="display:inline;color:#000000;">effective date </font><font style="display:inline;color:#000000;">of the </font><a name="El2071O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">filed in connection with such </font><a name="El2171O"></a><font style="display:inline;color:#000000;">Registration</font><font style="display:inline;color:#000000;">, or the pricing or trade date of a </font><a name="El2l71O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;"> under a Shelf Registration Statement</font><font style="display:inline;color:#000000;">, the </font><a name="El2m71O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">determines for any reason not to register or sell or to delay the </font><a name="El2271O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale </font><font style="display:inline;color:#000000;">of such securities, the </font><a name="El2371O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall give written notice of such determination to </font><a name="El2r71O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and, thereupon, (i)&nbsp;in the case of a determination not to register or sell, shall be relieved of its obligation to register or sell any </font><a name="El2991O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">in connection with such </font><a name="El2g91O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or </font><a name="El2a91O"></a><font style="display:inline;color:#000000;">Public Offering </font><font style="display:inline;color:#000000;">(but not from its obligation to pay the </font><a name="El2b91O"></a><font style="display:inline;color:#000000;">Registration Expenses </font><font style="display:inline;color:#000000;">in connection therewith), without prejudice, however, to the rights of Purchaser to request that such </font><a name="El2d91O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale </font><font style="display:inline;color:#000000;">be effected as a </font><a name="El2e91O"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">under Section </font><a name="Ellj91O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">or an </font><a name="El2f91O"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown </font><font style="display:inline;color:#000000;">under Section </font><a name="Ellk91O"></a><font style="display:inline;color:#000000;">3.</font><font style="display:inline;color:#000000;">2, as the case may be</font><font style="display:inline;color:#000000;">, and (ii)&nbsp;in the case of a determination to delay </font><a name="El2m91O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale</font><font style="display:inline;color:#000000;">, in the absence of a request for a </font><a name="El2n91O"></a><font style="display:inline;color:#000000;">Demand Registration </font><font style="display:inline;color:#000000;">or an </font><a name="El2o91O"></a><font style="display:inline;color:#000000;">Underwritten Shelf Takedown</font><font style="display:inline;color:#000000;">, as the case may be</font><font style="display:inline;color:#000000;">, shall be permitted to delay registering </font><font style="display:inline;color:#000000;">or selling </font><font style="display:inline;color:#000000;">any </font><a name="El2p91O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, for the same period as the delay in registering </font><font style="display:inline;color:#000000;">or selling </font><font style="display:inline;color:#000000;">such other securities.&nbsp; </font><a name="El2d71O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall have the right to withdraw all or part of its request for inclusion of its </font><a name="El2s71O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">in a </font><a name="El2e71O"></a><font style="display:inline;color:#000000;">Piggyback Registration </font><font style="display:inline;color:#000000;">by giving written notice to the </font><a name="El2f71O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">of its request to withdraw</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.3.2.</font>
			<a name="Eloy71O"></a><a name="_Ref292315257"></a><font style="display:inline;text-decoration:underline;color:#000000;">Priority of </font><a name="El2r91O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Registration</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If the managing underwriter or underwriters of any proposed offering of </font><a name="El2s91O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">included in a </font><a name="El2t91O"></a><font style="display:inline;color:#000000;">Piggyback Registration </font><font style="display:inline;color:#000000;">informs the </font><a name="El2u91O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and </font><a name="El2z91O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">in writing that, in its or their opinion, the number of securities that </font><a name="El2w91O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and any other </font><a name="El2x91O"></a><font style="display:inline;color:#000000;">Persons </font><font style="display:inline;color:#000000;">intend to include in such offering exceeds the number that can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such </font><a name="El2y91O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">shall be (i)&nbsp;first, one hundred percent (100%) of the securities that the </font><a name="El24a1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;"> proposes to sell, and (ii)&nbsp;second, and only if all the securities </font><a name="El9_91O"></a><font style="display:inline;color:#000000;">referred to in clause </font><a name="Ellga1O"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;color:#000000;">have been included</font><font style="display:inline;color:#000000;">, the number of </font><a name="El2da1O"></a><font style="display:inline;color:#000000;">Purchaser&#x2019;s </font><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect</font><a name="El2la1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and (iii) third, and only if all of the </font><a name="El2oa1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><a name="El90a1O"></a><font style="display:inline;color:#000000;">referred to </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">9</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">in clause </font><a name="Ellra1O"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;color:#000000;">have been included </font><font style="display:inline;color:#000000;">in such </font><a name="El2pa1O"></a><font style="display:inline;color:#000000;">Registration</font><font style="display:inline;color:#000000;">, any other securities eligible for inclusion in such </font><a name="El2qa1O"></a><font style="display:inline;color:#000000;">Registration</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.3.3.</font>
			<a name="Elosa1O"></a><font style="display:inline;text-decoration:underline;color:#000000;">No Effect on Other Registrations</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;No </font><a name="El2wa1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">of </font><a name="El2ua1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">effected pursuant to a request under this Section </font><a name="Ellxa1O"></a><font style="display:inline;color:#000000;">3.3 </font><font style="display:inline;color:#000000;">shall be deemed to have been effected pursuant to Sections </font><a name="Ellya1O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">and 3.2 or shall relieve the </font><a name="El2va1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">of its obligations under Sections </font><a name="Ellza1O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">and 3.2.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.4.</font>
			<a name="Elo1b1O"></a><a name="_Ref292315392"></a><a name="_Ref292319383"></a><font style="display:inline;text-decoration:underline;color:#000000;">Lock-Up Agreements</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqib1O"></a><a name="Elqgb1O"></a><a name="El9fb1O"></a><a name="Elqhb1O"></a><a name="El2db1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513642"></a><font style="display:inline;color:#000000;"></font><a name="Elljb1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elnkb1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2cb1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> &nbsp;In </font><font style="display:inline;color:#000000;">connection with each </font><a name="El23b1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale of </font><a name="El24b1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">pursuant to Section </font><a name="Elllb1O"></a><font style="display:inline;color:#000000;">3.1</font><font style="display:inline;color:#000000;">, 3.2 or 3.3 conducted as an </font><a name="El28b1O"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El25b1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El27b1O"></a><font style="display:inline;color:#000000;">the Company </font><font style="display:inline;color:#000000;">agrees to cause its directors and executive officers, if requested, to become bound by and to execute and deliver a lock-up </font><a name="El2ab1O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">with the underwriter(s) of such </font><a name="El26b1O"></a><font style="display:inline;color:#000000;">Underwritten Public Offering </font><font style="display:inline;color:#000000;">restricting such directors and officers and their respective affiliated funds from </font><a name="Eloob1O"></a><font style="display:inline;color:#000000;">(a)&nbsp;</font><a name="El2pb1O"></a><font style="display:inline;color:#000000;">transferr</font><font style="display:inline;color:#000000;">ing, directly or indirectly, any </font><a name="El2qb1O"></a><font style="display:inline;color:#000000;">equity securities of the Company held by such </font><font style="display:inline;color:#000000;">director, officer or affiliated fund or </font><a name="Elorb1O"></a><font style="display:inline;color:#000000;">(b) </font><font style="display:inline;color:#000000;">entering into any swap or other arrangement that transfers to another any of the economic consequences of ownership of such securities during the period commencing on the date of the final Prospectus relating to the Underwritten Public Offering&nbsp;&nbsp;and ending on the date specified by the underwriters (such period not to exceed ninety (90) days plus such additional period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on the publication or other distribution of research reports and analyst recommendations and opinions, if applicable).&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.5.</font>
			<a name="Eloac1O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Registration Procedures</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513643"></a><font style="display:inline;color:#000000;"></font><a name="Ellic1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqdc1O"></a><a name="Elqec1O"></a><a name="Elqgc1O"></a><a name="Elqhc1O"></a><font style="display:inline;color:#000000;"></font><a name="El9fc1O"></a><font style="display:inline;color:#000000;"></font><a name="El2cc1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.5.1.</font>
			<a name="Elolc1O"></a><a name="_Ref292315591"></a><font style="display:inline;text-decoration:underline;color:#000000;">Requirements</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;In connection with the </font><a name="El2nc1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s obligations under Sections </font><a name="Elluc1O"></a><font style="display:inline;color:#000000;">3.</font><font style="display:inline;color:#000000;">1 &#x2013; </font><font style="display:inline;color:#000000;">3.4, the </font><a name="El2rc1O"></a><font style="display:inline;color:#000000;">Company </font><a name="El9sc1O"></a><font style="display:inline;color:#000000;">shall </font><a name="El9tc1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to effect such </font><a name="El2oc1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">and </font><font style="display:inline;color:#000000;">to permit the sale of such </font><a name="El2pc1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the </font><a name="El2qc1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall:</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> (a)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">As promptly as practicable prepare the required </font><a name="El2yc1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El21d1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">all exhibits and financial statements required under the </font><a name="El2zc1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">to be filed therewith and Prospectus, and, before filing a </font><a name="El2_c1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or </font><a name="El20d1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or any amendments or supplements thereto, (x)&nbsp;furnish to the underwriters, if any, and to Purchaser, copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and Purchaser</font><a name="El2dd1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and their respective counsel, (y) make such changes in such documents concerning Purchaser</font><a name="El2kd1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">prior to the filing thereof as Purchaser, or its counsel, may reasonably request and (z)&nbsp;except in the case of a </font><a name="El2md1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">under Section </font><a name="Ellqd1O"></a><font style="display:inline;color:#000000;">3.</font><font style="display:inline;color:#000000;">3</font><font style="display:inline;color:#000000;"> not file any </font><a name="El2nd1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or </font><a name="El2od1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or amendments or supplements thereto to which Purchaser, in such capacity, or the underwriters, if any, shall reasonably object;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (b)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">prepare and file with the </font><a name="El2vd1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">such amendments and post-effective </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">10</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">amendments to such </font><a name="El2wd1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">and supplements to the </font><a name="El2xd1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">as may be (x)&nbsp;reasonably requested by Purchaser</font><a name="El25e1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">with </font><a name="El23e1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by such </font><a name="El24e1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">, (y)&nbsp;reasonably requested by Purchaser (to the extent such request relates to information relating to Purchaser), or (z)&nbsp;necessary to keep such </font><a name="El2ce1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">effective for the period of time required by this </font><a name="El2de1O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, and comply with provisions of the applicable securities laws with respect to the sale or other disposition of all securities covered by such </font><a name="El2ee1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">during such period in accordance with the intended method or methods of disposition by the sellers thereof set forth in such </font><a name="El2fe1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (c)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">notify the Purchaser</font><font style="display:inline;color:#000000;"> and the managing underwriter or underwriters, if any, </font><font style="display:inline;color:#000000;">and (if requested) confirm such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the </font><a name="El2oe1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">(a)&nbsp;when the applicable </font><a name="El2se1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or any amendment thereto has been filed or becomes effective, and when the applicable </font><a name="El2te1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or any amendment or supplement thereto has been filed, (b)&nbsp;of any written comments by the </font><a name="El2ye1O"></a><font style="display:inline;color:#000000;">SEC</font><font style="display:inline;color:#000000;">, or any request by the </font><a name="El2ze1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">or other federal or state governmental authority for amendments or supplements to such </font><a name="El2_e1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or such </font><a name="El20f1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, or for additional information (whether before or after the </font><a name="El24f1O"></a><font style="display:inline;color:#000000;">effective date </font><font style="display:inline;color:#000000;">of the </font><a name="El21f1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">) or any other correspondence with the </font><a name="El22f1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">relating to, or which may affect, the </font><a name="El23f1O"></a><font style="display:inline;color:#000000;">Registration</font><font style="display:inline;color:#000000;">, (c)&nbsp;of the issuance by the </font><a name="El2bf1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">of any stop order suspending the effectiveness of such </font><a name="El2cf1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or any order by the </font><a name="El2df1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">or any other regulatory authority preventing or suspending the use of any preliminary or final </font><a name="El2ef1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or the initiation or threatening of any proceedings for such purposes, (d)&nbsp;if, at any time, the representations and warranties of the </font><a name="El2jf1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">in any applicable </font><a name="El2kf1O"></a><font style="display:inline;color:#000000;">underwriting agreement </font><font style="display:inline;color:#000000;">cease to be true and correct in all material respects and (e)&nbsp;of the receipt by the </font><a name="El2mf1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">of any notification with respect to the suspension of the qualification of the </font><a name="El2nf1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">for offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (d)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Eloof1O"></a><a name="_Ref292315662"></a><font style="display:inline;color:#000000;">promptly notify </font><a name="El24g1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and the managing underwriter or underwriters, if any, </font><font style="display:inline;color:#000000;">when the </font><a name="El2qf1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">becomes aware of the happening of any event as a result of which the applicable </font><a name="El2rf1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or the </font><a name="El2sf1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">included in such </font><a name="El2tf1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">(as then in effect) contains any </font><a name="El95g1O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;color:#000000;">or omits to state a material fact necessary to make the statements therein (in the case of such </font><a name="El2uf1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or any preliminary </font><a name="El2vf1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, in light of the circumstances under which they were made) not misleading, when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the </font><a name="El2xf1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">, or, if for any other reason it shall be necessary during such time period to amend or </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">11</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">supplement such </font><a name="El2yf1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or </font><a name="El2zf1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">in order to comply with the </font><a name="El2_f1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">and, as promptly as reasonably practicable thereafter, prepare and file with the </font><a name="El20g1O"></a><font style="display:inline;color:#000000;">SEC</font><font style="display:inline;color:#000000;">, and furnish without charge to </font><a name="El21g1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and the managing underwriter or underwriters, if any, an amendment or supplement to such </font><a name="El22g1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or </font><a name="El23g1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, which shall correct such misstatement or omission or effect such compliance;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (e)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">to the extent the </font><a name="El2sg1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">is eligible under the relevant provisions of Rule 430B under the </font><a name="El2tg1O"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">, if the </font><a name="El2ug1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">files any </font><a name="El2vg1O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement</font><font style="display:inline;color:#000000;">, the </font><a name="El2wg1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall include in such </font><a name="El2xg1O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">such disclosures as may be required by Rule 430B under the </font><a name="El2yg1O"></a><a name="Elr5h1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(referring to the unnamed selling security holders in a generic manner) </font><font style="display:inline;color:#000000;">in order to ensure that Purchaser</font><a name="El2zg1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">may be added to such </font><a name="El2_g1O"></a><font style="display:inline;color:#000000;">Shelf Registration Statement </font><font style="display:inline;color:#000000;">at a later time through the filing of a </font><a name="El20h1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">supplement rather than a post-effective amendment;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (f)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elqeh1O"></a><a name="El9dh1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to prevent, or obtain the withdrawal of, any stop order or other order or notice preventing or suspending the use of any preliminary or final </font><a name="El2ch1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (g)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">promptly incorporate in a </font><a name="El2ih1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">supplement, Issuer Free Writing Prospectus or post-effective amendment such information as the managing underwriter or underwriters and Purchaser agree should be included therein relating to the plan of distribution with respect to such </font><a name="El2lh1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">; and make all required filings of such </font><a name="El2mh1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">supplement, Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such </font><a name="El2nh1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">supplement, Issuer Free Writing Prospectus or post-effective amendment;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (h)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">furnish to </font><a name="El2zh1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and each underwriter, if any, without charge, as many conformed copies as Purchaser or such underwriter may reasonably request of the applicable </font><a name="El2yh1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">and any amendment or post-effective amendment or supplement thereto, </font><a name="El2_h1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">financial statements and schedules, all documents incorporated therein by reference and all exhibits (</font><a name="El20i1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">those incorporated by reference);</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (i)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">deliver to Purchaser and each underwriter, if any, without charge, as many copies of the applicable </font><a name="El26i1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">(</font><a name="El2hi1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">each preliminary </font><a name="El2ii1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">) and any amendment or supplement thereto and such other documents as Purchaser or such underwriter may reasonably request in order to facilitate the disposition of the </font><a name="El28i1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">by Purchaser or underwriter (it being understood that the </font><a name="El2ai1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall consent to the use of such </font><a name="El2bi1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or any amendment or supplement thereto by </font><a name="El2gi1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and the underwriters, if any, in connection with the offering and sale of the </font><a name="El2di1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by such </font><a name="El2ei1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or any </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">12</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">amendment or supplement thereto);</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (j)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">on or prior to the date on which the applicable </font><a name="El2oi1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">becomes effective</font><a name="Elqxi1O"></a><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El9wi1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to register or qualify, and cooperate with Purchaser, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the </font><a name="El2qi1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or qualification of such </font><a name="El2ri1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">for offer and sale under the securities or &#x201C;Blue Sky&#x201D; laws of each state and other jurisdiction as any Purchaser or managing underwriter or underwriters, if any, or their respective counsel reasonably request in writing and do any and all other acts or things reasonably necessary or advisable to keep such </font><a name="El2ti1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or qualification in effect for such period as required by Section </font><a name="Ellzi1O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">or Section </font><a name="Ell_i1O"></a><font style="display:inline;color:#000000;">3.</font><font style="display:inline;color:#000000;">2</font><font style="display:inline;color:#000000;">, as applicable, </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that the </font><a name="El2ui1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (k)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">cooperate with Purchaser and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing </font><a name="El24j1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to be sold and not bearing any restrictive legends and enable such </font><a name="El25j1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to be in such denominations and registered in such names as the managing underwriters may request prior to any sale of </font><a name="El27j1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to the underwriters;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (l)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elqfj1O"></a><a name="El9ej1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to cause the </font><a name="El2bj1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by the applicable </font><a name="El2cj1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such </font><a name="El2dj1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (m)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">make such representations and warranties to Purchaser</font><a name="El2yj1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">being registered, and the underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in public offerings similar to the offering then being undertaken;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (n)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">enter into such customary agreements (</font><a name="El23k1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">underwriting and indemnification agreements) and take all such other actions as </font><a name="El20k1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or the managing underwriter or underwriters, if any, reasonably request in order to expedite or facilitate the </font><a name="El21k1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">and disposition of such </font><a name="El22k1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (o)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">obtain for delivery to Purchaser</font><a name="El26k1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">being registered and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the </font><a name="El27k1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">dated the most recent </font><a name="El2dk1O"></a><font style="display:inline;color:#000000;">effective date </font><font style="display:inline;color:#000000;">of the </font><a name="El28k1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or, in the event of an </font><a name="El2ck1O"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El29k1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, the date of the </font><a name="El2fk1O"></a><font style="display:inline;color:#000000;">closing </font><font style="display:inline;color:#000000;">under the </font><a name="El2ek1O"></a><font style="display:inline;color:#000000;">underwriting agreement</font><font style="display:inline;color:#000000;">, in customary form, scope and substance, which </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">13</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">opinions shall be reasonably satisfactory to Purchaser</font><a name="El2ak1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or underwriters, as the case may be, and their respective counsel;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (p)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">in the case of an </font><a name="El2tk1O"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El2kk1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, obtain for delivery to the </font><a name="El2lk1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and the managing underwriter or underwriters, with copies to Purchaser</font><a name="El2sk1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">included in such </font><a name="El2nk1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale</font><font style="display:inline;color:#000000;">, a comfort letter from the </font><a name="El2ok1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s independent certified public accountants or independent auditors (and, if necessary, any other independent certified public accountants or independent auditors of any subsidiary of the </font><a name="El2pk1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or any business acquired by the </font><a name="El2qk1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">for which financial statements and financial data are, or are required to be, included in the </font><a name="El2rk1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">) in customary form and covering such matters of the type customarily covered by comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the </font><a name="El2uk1O"></a><font style="display:inline;color:#000000;">underwriting agreement </font><font style="display:inline;color:#000000;">and brought down to the </font><a name="El2wk1O"></a><font style="display:inline;color:#000000;">closing </font><font style="display:inline;color:#000000;">under the </font><a name="El2vk1O"></a><font style="display:inline;color:#000000;">underwriting agreement</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (q)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">cooperate with each seller of </font><a name="El20l1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">and each underwriter, if any, participating in the disposition of such </font><a name="El21l1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">and their respective counsel in connection with any filings required to be made with </font><a name="El22l1O"></a><font style="display:inline;color:#000000;">FINRA</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (r)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elq8l1O"></a><a name="El97l1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to comply with all applicable securities laws and, if a </font><a name="El25l1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">was filed, make available to its security holders, as soon as reasonably practicable, an earnings statement satisfying the provisions of Section&nbsp;11(a) of the </font><a name="El26l1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">and the rules and regulations promulgated thereunder;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (s)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">provide and cause to be maintained a </font><a name="El2jl1O"></a><font style="display:inline;color:#000000;">transfer </font><font style="display:inline;color:#000000;">agent and registrar for all </font><a name="El2fl1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by the applicable </font><a name="El2gl1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (t)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elqvl1O"></a><a name="_Ref292314762"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to cause all </font><a name="El2ql1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">covered by the applicable </font><a name="El2rl1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">to be listed on each securities </font><a name="El2ul1O"></a><font style="display:inline;color:#000000;">exchange </font><font style="display:inline;color:#000000;">on which any of the </font><a name="El2sl1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s equity securities are then listed or quoted and on each inter-dealer quotation system on which any of the </font><a name="El2tl1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s equity securities are then quoted</font><font style="display:inline;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (u)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<a name="Elozl1O"></a><a name="_Ref292315579"></a><font style="display:inline;color:#000000;">make available upon reasonable notice at reasonable times and for reasonable periods for inspection by a representative appointed by Purchaser, by any underwriter participating in any disposition to be effected pursuant to such </font><a name="El21m1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">and by any attorney, accountant or other agent retained by Purchaser</font><a name="El22m1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or any such underwriter, all pertinent financial and other records and pertinent corporate documents and properties of the </font><a name="El23m1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, and cause all of the </font><a name="El24m1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the </font><a name="El25m1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and to supply all information reasonably </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">14</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:0pt 0pt 12pt 108pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">requested by any such </font><a name="El26m1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">in connection with such </font><a name="El27m1O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">;</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (v)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">in the case of an Underwritten</font><a name="El2ym1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, cause the senior executive officers of the </font><a name="El2zm1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to participate in the customary &#x201C;road show&#x201D; presentations that may be reasonably requested by the managing underwriter or underwriters in any such offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated </font><a name="El2_m1O"></a><font style="display:inline;color:#000000;">herein </font><font style="display:inline;color:#000000;">and customary selling efforts related thereto;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (w)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">take no direct or indirect action prohibited by Regulation M under the </font><a name="El22n1O"></a><font style="display:inline;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> (x)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">take all reasonable action to ensure that any Issuer Free Writing Prospectus utilized in connection with any </font><a name="El28n1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">complies in all material respects with the </font><a name="El29n1O"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">, is filed in accordance with the </font><a name="El2an1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">to the extent required thereby, is retained in accordance with the </font><a name="El2bn1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">to the extent required thereby and, when taken together with the related </font><a name="El2cn1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, will not contain any </font><a name="El9dn1O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;color:#000000;">or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:72pt;"><p style="width:72pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 25.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> (y)</font>
			</p>
		</td><td style="width:11pt;"><p style="width:11pt;width:11pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such </font><a name="El2ln1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">in accordance with the terms of this </font><a name="El2mn1O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.5.2.</font>
			<a name="Eloon1O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Company Information Requests</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The </font><a name="El2qn1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may require Purchaser to furnish to the </font><a name="El2sn1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">such information regarding the distribution of such securities and such other information relating to </font><a name="El2tn1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">and its ownership of </font><a name="El22o1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">as the </font><a name="El23o1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may from time to time reasonably request in writing and the </font><a name="El2un1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may exclude from such </font><a name="El2vn1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale </font><font style="display:inline;color:#000000;">the </font><a name="El2wn1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">of Purchaser who unreasonably fails to furnish such information within a reasonable time after receiving such request.&nbsp; </font><a name="El25o1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">agrees to furnish such information to the </font><a name="El2zn1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and to cooperate with the </font><a name="El2_n1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">as reasonably necessary to enable the </font><a name="El20o1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to comply with the provisions of this </font><a name="El21o1O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;"> Section 3.6.</font>
			<a name="Elonp1O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Underwritten Offerings</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513644"></a><font style="display:inline;color:#000000;"></font><a name="Ellvp1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqqp1O"></a><a name="Elqrp1O"></a><a name="Elqtp1O"></a><a name="Elqup1O"></a><font style="display:inline;color:#000000;"></font><a name="El9sp1O"></a><font style="display:inline;color:#000000;"></font><a name="El2pp1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.6.1.</font>
			<a name="Eloyp1O"></a><a name="_Ref292315865"></a><font style="display:inline;text-decoration:underline;color:#000000;">Shelf and </font><a name="El2_p1O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Demand Registrations</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If requested by the underwriters for any </font><a name="El2jq1O"></a><font style="display:inline;color:#000000;">U</font><font style="display:inline;color:#000000;">nderwritten </font><a name="El20q1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, pursuant to a </font><a name="El2fq1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale </font><font style="display:inline;color:#000000;">under Sections </font><a name="Elltq1O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">or </font><font style="display:inline;color:#000000;">3.2, the </font><a name="El2cq1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall enter into an </font><a name="El2lq1O"></a><font style="display:inline;color:#000000;">underwriting agreement </font><font style="display:inline;color:#000000;">with such underwriters, such </font><a name="El2pq1O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">to be reasonably satisfactory in substance and form to each of the </font><a name="El2dq1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, Purchaser and the underwriters, and to contain such representations and warranties by the </font><a name="El21q1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and such other terms as are generally prevailing in agreements of that type, </font><a name="El2kq1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">indemnities no less favorable to the recipient thereof </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">15</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">than those provided in Section </font><a name="Elluq1O"></a><font style="display:inline;color:#000000;">3.9 of this Agreement.</font><font style="display:inline;color:#000000;"> &nbsp;Purchaser shall cooperate with the </font><a name="El23q1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">in the negotiation of the </font><a name="El2mq1O"></a><font style="display:inline;color:#000000;">underwriting agreement </font><font style="display:inline;color:#000000;">and shall give consideration to the reasonable suggestions of the </font><a name="El24q1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">regarding the form thereof, and Purchaser shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements.&nbsp; </font><a name="El2iq1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall not be required to make any representations or warranties to or agreements with the </font><a name="El27q1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or the underwriters other than representations, warranties or agreements regarding Purchaser, Purchaser&#x2019;s title to the </font><a name="El29q1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, Purchaser&#x2019;s intended method of distribution and any other representations to be made by Purchaser as are generally prevailing in agreements of that type, and the aggregate amount of the liability of Purchaser</font><a name="El2bq1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">under such agreement </font><font style="display:inline;color:#000000;">shall not exceed Purchaser&#x2019;s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.6.2.</font>
			<a name="Elo6r1O"></a><a name="El28r1O"></a><a name="_Ref292315884"></a><font style="display:inline;color:#000000;text-decoration:underline;">Piggyback Registrations</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If the </font><a name="El29r1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">proposes to register or sell any of its securities under the </font><a name="El2ar1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">as contemplated by Section </font><a name="Ell0s1O"></a><font style="display:inline;color:#000000;">3.3 </font><font style="display:inline;color:#000000;">and such securities are to be distributed through one or more underwriters, the </font><a name="El2br1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall, if requested by Purchaser</font><a name="El2qr1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">pursuant to Section </font><a name="Ell1s1O"></a><font style="display:inline;color:#000000;">3.3 </font><font style="display:inline;color:#000000;">and, subject to the provisions of Section </font><a name="Ell2s1O"></a><font style="display:inline;color:#000000;">3.3.2</font><a name="Elqzr1O"></a><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El9yr1O"></a><font style="display:inline;color:#000000;">use its reasonable best efforts </font><font style="display:inline;color:#000000;">to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such </font><a name="El2dr1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale </font><font style="display:inline;color:#000000;">all the </font><a name="El2er1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to be offered and sold by Purchaser</font><a name="El2fr1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">among the securities of the </font><a name="El2gr1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">to be distributed by such underwriters in such </font><a name="El2hr1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Purchaser</font><a name="El2rr1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall be party to the </font><a name="El2tr1O"></a><font style="display:inline;color:#000000;">underwriting agreement </font><font style="display:inline;color:#000000;">between the </font><a name="El2jr1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and such underwriters and shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall not be required to make any representations or warranties to or agreements with the </font><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or the underwriters other than representations, warranties or agreements regarding Purchaser, Purchaser&#x2019;s title to the </font><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, Purchaser&#x2019;s intended method of distribution and any other representations to be made by the Purchaser as are generally prevailing in agreements of that type, and the aggregate amount of the liability of Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall not exceed Purchaser&#x2019;s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.6.3.</font>
			<a name="Elods1O"></a><a name="Eloss1O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Selection of Underwriters; Selection of Counsel</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;In the case of an </font><a name="El2xs1O"></a><font style="display:inline;color:#000000;">U</font><font style="display:inline;color:#000000;">nderwritten </font><a name="El2us1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;"> under Sections </font><a name="Ellys1O"></a><font style="display:inline;color:#000000;">3.1 </font><font style="display:inline;color:#000000;">or 3.2, the managing underwriter or underwriters to administer the offering shall be determined by the Purchaser. In the case of an U</font><font style="display:inline;color:#000000;">nderwritten Public Offering</font><font style="display:inline;color:#000000;"> under Section 3.3, the managing underwriter or underwriters to administer the offering shall be determined by the Company; </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that such underwriter or underwriters shall be reasonably acceptable to Purchaser. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.7.</font>
			<a name="Eloaa1O"></a><a name="_Ref292315413"></a><font style="display:inline;text-decoration:underline;color:#000000;">No Inconsistent Agreements; Additional Rights</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="El9ht1O"></a><a name="Elqgt1O"></a><a name="Elxkt1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513645"></a><font style="display:inline;color:#000000;"></font><a name="Ellit1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elnjt1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqft1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Neither the Company </font><font style="display:inline;color:#000000;">nor any of its subsidiaries shall hereafter enter into, and neither the </font><a name="El20t1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">nor any of its subsidiaries is currently a party to, any </font><a name="El2dt1O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">with respect to its securities that is inconsistent with the rights granted to Purchaser</font><a name="El29t1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">by this </font><a name="El22t1O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, except for </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">16</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">that certain Amended and Restated Shareholders and Registration Rights Agreement (the &#x201C;</font><font style="display:inline;color:#000000;text-decoration:underline;">UFRF Agreement</font><font style="display:inline;color:#000000;">&#x201D;) dated February 21, 2006, by and between by and between the University of Florida Research Foundation, Inc. and the Axogen Corporation, a subsidiary of the Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Without Purchaser approval, neither the </font><a name="El26t1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">nor any of its subsidiaries shall enter into any </font><a name="El2et1O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">granting </font><a name="El2bt1O"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">or similar rights to any </font><a name="El27t1O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;color:#000000;">, and the </font><a name="El28t1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">hereby represents and warrants that, as of the date </font><a name="El2at1O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;color:#000000;">, no </font><a name="El2ct1O"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">or similar rights have been granted to any other </font><a name="El23t1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">other than pursuant to this </font><a name="El24t1O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;"> and the UFRF Agreement</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.8.</font>
			<a name="EloljO"></a><a name="El2nt1O"></a><a name="_Ref293515919"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration Expenses</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elq1u1O"></a><a name="Elq_t1O"></a><a name="El9zt1O"></a><a name="Elq0u1O"></a><a name="El2yt1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513646"></a><font style="display:inline;color:#000000;"></font><a name="Ell2u1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2xt1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> All </font><font style="display:inline;color:#000000;">expenses incident to the </font><a name="El2ot1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s performance of or compliance with this </font><a name="El2pt1O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall be paid by the </font><a name="El2qt1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El2tt1O"></a><font style="display:inline;color:#000000;">including </font><a name="Elo5u1O"></a><font style="display:inline;color:#000000;">(i)&nbsp;</font><font style="display:inline;color:#000000;">all </font><a name="El28u1O"></a><font style="display:inline;color:#000000;">registration </font><font style="display:inline;color:#000000;">and filing fees, and any other fees and expenses associated with filings required to be made with the </font><a name="El26u1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">or </font><a name="El27u1O"></a><font style="display:inline;color:#000000;">FINRA</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="Elo9u1O"></a><font style="display:inline;color:#000000;">(ii)&nbsp;</font><font style="display:inline;color:#000000;">all fees and expenses in connection with compliance with any securities or &#x201C;Blue Sky&#x201D; laws (</font><a name="El2bu1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">reasonable fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the </font><a name="El2au1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">), </font><a name="Elocu1O"></a><font style="display:inline;color:#000000;">(iii)&nbsp;</font><font style="display:inline;color:#000000;">all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (</font><a name="El2fu1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">expenses of printing certificates for the </font><a name="El2du1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">in a form eligible for deposit with The Depository Trust Company and of printing </font><a name="El2eu1O"></a><font style="display:inline;color:#000000;">Prospectuses</font><font style="display:inline;color:#000000;">), </font><a name="Elohu1O"></a><font style="display:inline;color:#000000;">(iv)&nbsp;</font><font style="display:inline;color:#000000;">all fees and disbursements of counsel for the </font><a name="El2iu1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and of all independent certified public accountants or independent auditors of the </font><a name="El2ju1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and any subsidiaries of the </font><a name="El2ku1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">(</font><a name="El2lu1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">the expenses of any special audit and comfort letters required by or incident to such performance), </font><a name="Elomu1O"></a><font style="display:inline;color:#000000;">(v)&nbsp;</font><a name="El2nu1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">li</font><font style="display:inline;color:#000000;">ability insurance or similar insurance if the </font><a name="El2ou1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">so desires or the underwriters so require in accordance with then-customary underwriting practice, </font><a name="Eloqu1O"></a><font style="display:inline;color:#000000;">(vi)&nbsp;</font><font style="display:inline;color:#000000;">all fees and expenses incurred in connection with the listing of the </font><a name="El2ru1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">on any securities </font><a name="El2tu1O"></a><font style="display:inline;color:#000000;">exchange </font><font style="display:inline;color:#000000;">or quotation of the </font><a name="El2su1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">on any inter-dealer quotation system,&nbsp; </font><a name="Elowu1O"></a><font style="display:inline;color:#000000;">(viii)&nbsp;</font><font style="display:inline;color:#000000;">all reasonable fees and disbursements of one legal counsel for the Purchaser, </font><a name="Elo1v1O"></a><font style="display:inline;color:#000000;">(ix)&nbsp;</font><font style="display:inline;color:#000000;">any reasonable fees and disbursements of underwriters customarily paid by issuers or sellers of securities, </font><a name="Elo2v1O"></a><font style="display:inline;color:#000000;">(x) </font><font style="display:inline;color:#000000;">all fees and expenses incurred in connection with the distribution or </font><a name="El27v1O"></a><font style="display:inline;color:#000000;">Transfer </font><font style="display:inline;color:#000000;">of </font><a name="El23v1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to or by a Purchaser or its </font><a name="El25v1O"></a><font style="display:inline;color:#000000;">Permitted Transferees </font><font style="display:inline;color:#000000;">in connection with a </font><a name="El24v1O"></a><font style="display:inline;color:#000000;">Public Offering</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="Elo8v1O"></a><font style="display:inline;color:#000000;">(xi)&nbsp;</font><font style="display:inline;color:#000000;">all fees and expenses of any special experts or other </font><a name="El29v1O"></a><font style="display:inline;color:#000000;">Persons </font><font style="display:inline;color:#000000;">retained by the </font><a name="El2av1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">in connection with any </font><a name="El2bv1O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">or sale</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="Elocv1O"></a><font style="display:inline;color:#000000;">(xii)&nbsp;</font><font style="display:inline;color:#000000;">all of the </font><a name="El2dv1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">&#x2019;s internal expenses (</font><a name="El2ev1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">all salaries and expenses of its officers and employees performing legal or accounting duties) and </font><a name="ElofjO"></a><font style="display:inline;color:#000000;">(xiii) </font><font style="display:inline;color:#000000;">all expenses related to the &#x201C;road show&#x201D; for any </font><a name="El2hv1O"></a><font style="display:inline;color:#000000;">Underwritten </font><a name="El2fv1O"></a><font style="display:inline;color:#000000;">Public Offering, </font><a name="El2iv1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">the reasonable out-of-pocket expenses of Purchaser and </font><font style="display:inline;color:#000000;">underwriters, if so requested</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;All such expenses are referred to </font><a name="El2vt1O"></a><font style="display:inline;color:#000000;">herein </font><font style="display:inline;color:#000000;">as &#x201C;</font><a name="El3djO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration Expenses</font><font style="display:inline;color:#000000;">&#x201D;.&nbsp;&nbsp;The </font><a name="El2rt1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall not be required to pay any fees and disbursements to underwriters not customarily paid by the issuers of securities in an offering similar to the applicable offering, </font><a name="El2ut1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">underwriting discounts and commissions and </font><a name="El2wt1O"></a><font style="display:inline;color:#000000;">transfer </font><font style="display:inline;color:#000000;">taxes, if any, attributable to the sale of </font><a name="El2st1O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.9.</font>
			<a name="Elovq1O"></a><a name="_Ref292315728"></a><font style="display:inline;text-decoration:underline;color:#000000;">Indemnification</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513647"></a><font style="display:inline;color:#000000;"></font><a name="Ellrv1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqmv1O"></a><a name="Elqnv1O"></a><a name="Elqpv1O"></a><a name="Elqqv1O"></a><font style="display:inline;color:#000000;"></font><a name="El9ov1O"></a><font style="display:inline;color:#000000;"></font><a name="El2lv1O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.9.1.</font>
			<a name="EloycO"></a><a name="_Ref292315984"></a><font style="display:inline;text-decoration:underline;color:#000000;">Indemnification by the </font><a name="El2aw1O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The </font><a name="El2vv1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall indemnify and hold harmless, to the full extent permitted by law, Purchaser, each shareholder, member, limited or general partner of Purchaser, each shareholder, member, limited or </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">17</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">general partner of each such shareholder, member, limited or general partner, each of their respective </font><a name="El2xv1O"></a><font style="display:inline;color:#000000;">Affiliates</font><font style="display:inline;color:#000000;">, officers, directors, shareholders, employees, advisors, and agents and each </font><a name="El2yv1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">who controls (within the meaning of the </font><a name="El2zv1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">or the </font><a name="El2_v1O"></a><font style="display:inline;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">) such </font><a name="El20w1O"></a><font style="display:inline;color:#000000;">Persons </font><font style="display:inline;color:#000000;">and each of their respective </font><a name="El21w1O"></a><font style="display:inline;color:#000000;">Representatives </font><font style="display:inline;color:#000000;">from and against any and all </font><a name="El2fw1O"></a><font style="display:inline;color:#000000;">losses</font><font style="display:inline;color:#000000;">, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (</font><a name="El2cw1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">reasonable costs of investigation and legal expenses and any indemnity and contribution payments made to underwriters ) (each, a &#x201C;</font><a name="El3rcO"></a><font style="display:inline;color:#000000;text-decoration:underline;">Loss</font><font style="display:inline;color:#000000;">&#x201D; and collectively &#x201C;</font><a name="El3uv1O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Losses</font><font style="display:inline;color:#000000;">&#x201D;) arising out of or based upon (i) any untrue or alleged </font><a name="El9gw1O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;color:#000000;">contained in any </font><a name="El2ow1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">under which such </font><a name="El2pw1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">are registered </font><font style="display:inline;color:#000000;">or sold </font><font style="display:inline;color:#000000;">under the </font><a name="El2qw1O"></a><a name="Elrww1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(</font><a name="El2uw1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">any final, preliminary or summary </font><a name="El2rw1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein) </font><font style="display:inline;color:#000000;">or any other disclosure document produced by or on behalf of the </font><a name="El2sw1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or any of its subsidiaries </font><a name="El2vw1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">any report and other document filed under the </font><a name="El2tw1O"></a><font style="display:inline;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a </font><a name="El20x1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or preliminary </font><a name="El21x1O"></a><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, in light of the circumstances under which they were made) not misleading or (iii) any violation or alleged violation by the </font><a name="El25x1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or any of its subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the </font><a name="El26x1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">or any of its subsidiaries and relating to action or inaction in connection with any such </font><a name="El2dx1O"></a><font style="display:inline;color:#000000;">registration</font><font style="display:inline;color:#000000;">, disclosure document or other document or report; </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;">, that </font><a name="El27x1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">shall not be entitled to indemnification pursuant to this Section </font><a name="Ellex1O"></a><font style="display:inline;color:#000000;">3.9.1 </font><font style="display:inline;color:#000000;">in respect of any untrue statement or omission contained in any information relating to Purchaser furnished in writing by </font><a name="El2ax1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">to the </font><a name="El2bx1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">specifically for inclusion in a </font><a name="El28x1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">and used by the Company in conformity therewith (such information &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Selling Stockholder Information</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp;&nbsp;This indemnity shall be in addition to any liability the </font><a name="El22w1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may otherwise have.&nbsp;&nbsp;Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of Purchaser</font><a name="El23w1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or any indemnified party and shall survive the </font><a name="El2ew1O"></a><font style="display:inline;color:#000000;">Transfer </font><font style="display:inline;color:#000000;">of such securities by Purchaser</font><font style="display:inline;color:#000000;"> and regardless of any indemnity agreed to in the underwriting agreement that is less favorable to Purchaser</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The </font><a name="El25w1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">shall also indemnify underwriters, selling brokers, dealer </font><a name="El2dw1O"></a><font style="display:inline;color:#000000;">managers </font><font style="display:inline;color:#000000;">and similar securities industry professionals participating in the distribution, their officers and directors and each </font><a name="El26w1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">who controls such </font><a name="El27w1O"></a><font style="display:inline;color:#000000;">Persons </font><font style="display:inline;color:#000000;">(within the meaning of the </font><a name="El28w1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">and the </font><a name="El29w1O"></a><font style="display:inline;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">) to the same extent as provided above (with appropriate modification) with respect to the indemnification of the indemnified parties.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.9.2.</font>
			<a name="Eloix1O"></a><a name="_Ref292315990"></a><font style="display:inline;text-decoration:underline;color:#000000;">Indemnification by the Purchaser</font><font style="display:inline;color:#000000;">.&nbsp; </font><a name="El2_x1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">agrees (severally and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the </font><a name="El2mx1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, its directors and officers and each </font><a name="El2nx1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">who controls the </font><a name="El2ox1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">(within the meaning of the </font><a name="El2px1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">or the </font><a name="El2qx1O"></a><font style="display:inline;color:#000000;">Exchange Act</font><font style="display:inline;color:#000000;">) from and against any Losses resulting from (i) any </font><a name="El95y1O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;color:#000000;">in any </font><a name="El2hy1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">under which such </font><a name="El2iy1O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">were registered </font><font style="display:inline;color:#000000;">or sold </font><font style="display:inline;color:#000000;">under the </font><a name="El2jy1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">(</font><a name="El2ly1O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">any final, preliminary or summary </font><a name="El2ky1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein) or (ii) any omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a </font><a name="El2qy1O"></a><font style="display:inline;color:#000000;">Prospectus </font><font style="display:inline;color:#000000;">or preliminary </font><a name="El2ry1O"></a><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">18</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">Prospectus</font><font style="display:inline;color:#000000;">, in light of the circumstances under which they were made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or omission is contained in Purchaser&#x2019;s Selling Stockholder Information.&nbsp;&nbsp;In no event shall the liability of </font><a name="El20y1O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><a name="El21y1O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">be greater in amount than the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net of underwriting discounts and commissions but before expenses, less any amounts paid by Purchaser</font><a name="El24y1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">pursuant to Section </font><a name="Ell8y1O"></a><font style="display:inline;color:#000000;">3.9.4 </font><font style="display:inline;color:#000000;">and any amounts paid by Purchaser</font><a name="El2vx1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">as a result of liabilities incurred under the </font><a name="El22y1O"></a><font style="display:inline;color:#000000;">underwriting agreement</font><font style="display:inline;color:#000000;">, if any, related to such sale.&nbsp; </font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 3.9.3.</font>
			<a name="Elo1z1O"></a><a name="_Ref292315969"></a><font style="display:inline;text-decoration:underline;color:#000000;">Conduct of Indemnification Proceedings</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Any </font><a name="El23z1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">entitled to indemnification </font><a name="El24z1O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (</font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations </font><a name="El29z1O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">only to the extent, if at all, that it forfeits substantive legal rights by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">however</font><font style="display:inline;color:#000000;">, that any </font><a name="El2bz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">entitled to indemnification </font><a name="El2dz1O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such </font><a name="El2cz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">unless (i) the indemnifying party has agreed in writing to pay such fees or expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the </font><a name="El2gz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">entitled to indemnification </font><a name="El2iz1O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">and employ counsel reasonably satisfactory to such </font><a name="El2hz1O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;color:#000000;">, (iii)&nbsp;the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (iv) in the reasonable judgment of any such </font><a name="El2lz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">(based upon advice of its counsel) a conflict of interest may exist between such </font><a name="El2mz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">and the indemnifying party with respect to such claims (in which case, if the </font><a name="El2nz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">notifies the indemnifying party in writing that such </font><a name="El2oz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such </font><a name="El2pz1O"></a><font style="display:inline;color:#000000;">Person</font><font style="display:inline;color:#000000;">).&nbsp;&nbsp;If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the indemnified party.&nbsp;&nbsp;No indemnifying party shall consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation without the prior written consent of such indemnified party. If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld.&nbsp;&nbsp;It is understood that the indemnifying party or parties shall not, except as specifically set forth in this Section </font><a name="Ell5z1O"></a><font style="display:inline;color:#000000;">3.9.3</font><font style="display:inline;color:#000000;">, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">19</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.9.4.</font>
			<a name="Elo9y1O"></a><a name="_Ref292315951"></a><font style="display:inline;text-decoration:underline;color:#000000;">Contribution</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;If for any reason the indemnification provided for in Section </font><a name="Ellc_1O"></a><font style="display:inline;color:#000000;">3.9.1 </font><font style="display:inline;color:#000000;">and Section </font><a name="Elld_1O"></a><font style="display:inline;color:#000000;">3.9.2 </font><font style="display:inline;color:#000000;">is unavailable to an indemnified party </font><a name="Ellf_1O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or insufficient in respect of any Losses referred to therein (other than as a result of exceptions or limitations on indemnification contained in Section </font><a name="Elle_1O"></a><font style="display:inline;color:#000000;">3.9.1 </font><font style="display:inline;color:#000000;">and Section </font><font style="display:inline;color:#000000;">3.9.2)</font><font style="display:inline;color:#000000;">, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations.&nbsp;&nbsp;In connection with any </font><a name="El2wz1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">filed with the </font><a name="El25_1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">by the </font><a name="El26_1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be determined by reference to, among other things, whether any untrue or alleged </font><a name="El9b_1O"></a><font style="display:inline;color:#000000;">untrue statement of a material fact </font><font style="display:inline;color:#000000;">or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties&#x2019; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.&nbsp;&nbsp;The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section </font><a name="Ellg_1O"></a><font style="display:inline;color:#000000;">3.9.4 </font><font style="display:inline;color:#000000;">were determined by </font><font style="display:inline;text-decoration:underline;color:#000000;">pro</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">rata</font><font style="display:inline;color:#000000;"> allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this Section </font><a name="Ellh_1O"></a><font style="display:inline;color:#000000;">3.9.4.</font><font style="display:inline;color:#000000;"> &nbsp;No Person guilty of&nbsp;fraudulent misrepresentation (within the meaning of Section 11(f) of the </font><a name="El2yz1O"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">) shall&nbsp;be entitled to contribution from any </font><a name="El2zz1O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">who was not guilty of such fraudulent misrepresentation.&nbsp;&nbsp;The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections </font><a name="Ellk_1O"></a><font style="display:inline;color:#000000;">3.9.1 </font><font style="display:inline;color:#000000;">and 3.9.2 shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.&nbsp;&nbsp;Notwithstanding the provisions of this Section </font><a name="Elll_1O"></a><font style="display:inline;color:#000000;">3.9.4</font><font style="display:inline;color:#000000;">, in connection with any </font><a name="El20_1O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">filed by the </font><a name="El21_1O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;color:#000000;">, Purchaser shall not be required to contribute any amount in excess of the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net of underwriting discounts and commissions but before expenses, less any amounts paid by Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">pursuant to Section </font><font style="display:inline;color:#000000;">3.9.2 </font><font style="display:inline;color:#000000;">and any amounts paid by Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">as a result of liabilities incurred under the </font><font style="display:inline;color:#000000;">underwriting agreement</font><font style="display:inline;color:#000000;">, if any, related to such sale.&nbsp;&nbsp;If indemnification is available under this Section </font><a name="Elln_1O"></a><font style="display:inline;color:#000000;">3.</font><font style="display:inline;color:#000000;">9</font><font style="display:inline;color:#000000;">, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections&nbsp;</font><a name="Ello_1O"></a><font style="display:inline;color:#000000;">3.9.1 </font><font style="display:inline;color:#000000;">and 3.9.2 </font><a name="El28_1O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">without regard to the provisions of this Section </font><a name="Ellp_1O"></a><font style="display:inline;color:#000000;">3.9.4.</font><font style="display:inline;color:#000000;"> &nbsp;The remedies provided for in this Section </font><a name="Ellq_1O"></a><font style="display:inline;color:#000000;">3.9 </font><font style="display:inline;color:#000000;">are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.</font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">20</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 3.10.</font>
			<a name="Elov_1O"></a><a name="_Ref292316199"></a><font style="display:inline;text-decoration:underline;color:#000000;">Rules 144 and 144A and Regulation&nbsp;S</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="El9j02O"></a><a name="Elqi02O"></a><a name="Elxt02O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513648"></a><font style="display:inline;color:#000000;"></font><a name="Ellk02O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elrl02O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqh02O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">The Company </font><font style="display:inline;color:#000000;">shall file the reports required to be filed by it under the </font><a name="El2x_1O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">and the </font><a name="El2y_1O"></a><font style="display:inline;color:#000000;">Exchange Act </font><font style="display:inline;color:#000000;">and the rules and regulations adopted by the </font><a name="El2z_1O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">thereunder (or, if the </font><a name="El2__1O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">is not required to file such reports, it will, upon the request of Purchaser, make publicly available such necessary information for so long as necessary to permit sales that would otherwise be permitted by this </font><a name="El2f02O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">pursuant to </font><a name="El2102O"></a><font style="display:inline;color:#000000;">Rule 144</font><font style="display:inline;color:#000000;">, Rule 144A or Regulation S under the </font><a name="El2202O"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">, as such rules may be amended from time to time or any similar rule or regulation hereafter adopted by the </font><a name="El2302O"></a><font style="display:inline;color:#000000;">SEC</font><font style="display:inline;color:#000000;">), and it will take such further action as Purchaser</font><a name="El2c02O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">may reasonably request, all to the extent required from time to time to enable Purchaser</font><a name="El2502O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">to sell </font><a name="El2602O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">without </font><a name="El2d02O"></a><font style="display:inline;color:#000000;">Registration </font><font style="display:inline;color:#000000;">under the </font><a name="El2702O"></a><font style="display:inline;color:#000000;">Securities Act </font><font style="display:inline;color:#000000;">in transactions that would otherwise be permitted by this </font><a name="El2g02O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">and within the limitation of the exemptions provided by </font><a name="Elow02O"></a><font style="display:inline;color:#000000;">(i)&nbsp;</font><a name="El2x02O"></a><font style="display:inline;color:#000000;">Rule 144</font><font style="display:inline;color:#000000;">, Rule 144A or Regulation S under the </font><a name="El2y02O"></a><font style="display:inline;color:#000000;">Securities Act</font><font style="display:inline;color:#000000;">, as such rules may be amended from time to time, or </font><a name="Elo112O"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;color:#000000;">any similar rule or regulation hereafter adopted by the </font><a name="El2212O"></a><font style="display:inline;color:#000000;">SEC</font><font style="display:inline;color:#000000;">. Upon the request of Purchaser, the </font><a name="El2a02O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">will deliver to Purchaser</font><a name="El2802O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">a written statement as to whether it has complied with such requirements and, if not, the specifics thereof.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 3.11.</font>
			<a name="Elo312O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Existing </font><a name="El2512O"></a><font style="display:inline;color:#000000;text-decoration:underline;">Registration Statements</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqy12O"></a><a name="Elqw12O"></a><a name="El9v12O"></a><a name="Elqx12O"></a><a name="El2u12O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513649"></a><font style="display:inline;color:#000000;"></font><a name="Ellz12O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Eln_12O"></a><font style="display:inline;color:#000000;"></font><a name="El2612O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2t12O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> Notwithstanding </font><font style="display:inline;color:#000000;">anything </font><a name="El2r12O"></a><font style="display:inline;color:#000000;">herein </font><font style="display:inline;color:#000000;">to the contrary and subject to applicable law and regulation, the </font><a name="El2712O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">may satisfy any obligation </font><a name="El2s12O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">to file a </font><a name="El2812O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">or to have a </font><a name="El2912O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">become effective by a specified date by designating, by notice to Purchaser, a </font><a name="El2b12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">that previously has been filed with the </font><a name="El2c12O"></a><font style="display:inline;color:#000000;">SEC </font><font style="display:inline;color:#000000;">or become effective, as the case may be, as the relevant </font><a name="El2d12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">for purposes of satisfying such obligation, and all references to any such obligation shall be construed accordingly; </font><font style="display:inline;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that such previously filed </font><a name="El2e12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">may be, and is, amended or, subject to applicable securities laws, supplemented to add the number of </font><a name="El2f12O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, and, to the extent necessary, to i</font><a name="El2g12O"></a><font style="display:inline;color:#000000;">dentify Purchaser as selling stockholders</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">demanding the filing of a </font><a name="El2h12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">pursuant to the terms of this </font><a name="El2i12O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;To the extent this </font><a name="El2j12O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">refers to the filing or effectiveness of other </font><a name="El2k12O"></a><font style="display:inline;color:#000000;">Registration Statements</font><font style="display:inline;color:#000000;">, by or at a specified time and the </font><a name="El2l12O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">has, in lieu of then filing such </font><a name="El2m12O"></a><font style="display:inline;color:#000000;">Registration Statements </font><font style="display:inline;color:#000000;">or having such </font><a name="El2n12O"></a><font style="display:inline;color:#000000;">Registration Statements </font><font style="display:inline;color:#000000;">become effective, designated a previously filed or effective </font><a name="El2o12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">as the relevant </font><a name="El2p12O"></a><font style="display:inline;color:#000000;">Registration Statement </font><font style="display:inline;color:#000000;">for such purposes, in accordance with the preceding sentence, such references shall be construed to refer to such designated </font><a name="El2q12O"></a><font style="display:inline;color:#000000;">Registration Statement</font><font style="display:inline;color:#000000;">, as amended or supplemented in the manner contemplated by the immediately preceding sentence.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" style="width: 100.00pt; display: inline;">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:center;display: inline;padding:0pt 1pt 0pt 0pt;">ARTICLE IV</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:center;font-weight:bold;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;width:100%">
			<a name="Elon22O"></a><a name="_Toc293516359"></a><a name="_Toc293335894"></a><a name="_Toc292314581"></a><a name="_Toc292314104"></a><a name="_Toc292313987"></a><a name="_Toc192064859"></a><a name="_Toc192064826"></a><a name="_Toc191456033"></a><a name="_Toc191455840"></a><a name="_Toc147898740"></a><a name="_Toc147898565"></a><a name="_Toc146466474"></a><a name="_Toc127769345"></a><a name="_Toc127692803"></a><a name="_Toc127691982"></a><a name="_Toc73379353"></a><a name="_Toc73378826"></a><a name="_Toc73377976"></a><a name="_Toc72227352"></a><a name="_Toc71692509"></a><a name="_Toc71608949"></a><a name="_Toc70584756"></a><a name="_Toc70537712"></a><a name="_Toc70537344"></a><a name="_Toc70524285"></a><a name="_Toc70523449"></a><a name="_Toc70522970"></a><br /><font style="display:inline;color:#000000;"></font><br /><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">MISCELLANEOUS</font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513650"></a><font style="display:inline;color:#000000;"></font><a name="Ellu22O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqr22O"></a><a name="El9q22O"></a><a name="Elqt22O"></a><font style="display:inline;color:#000000;"></font><a name="Elqs22O"></a><font style="display:inline;color:#000000;"></font><a name="El2p22O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 4.1.</font>
			<a name="Elox22O"></a><a name="_Toc70523465"></a><a name="_Toc70524301"></a><a name="_Toc70537360"></a><a name="_Toc70537728"></a><a name="_Toc70584782"></a><a name="_Toc71608963"></a><a name="_Toc71692522"></a><a name="_Toc72227365"></a><a name="_Toc73377989"></a><a name="_Toc73378839"></a><a name="_Toc73379366"></a><a name="_Toc127691995"></a><a name="_Toc127692816"></a><a name="_Toc127769358"></a><a name="_Toc146466487"></a><a name="_Toc147898578"></a><a name="_Toc147898752"></a><a name="_Toc191455848"></a><a name="_Toc191456040"></a><a name="_Toc192064834"></a><a name="_Toc192064867"></a><a name="_Ref292314821"></a><font style="display:inline;text-decoration:underline;color:#000000;">Authority;&nbsp;&nbsp;Effect</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elq832O"></a><a name="Elq632O"></a><a name="El9532O"></a><a name="Elq732O"></a><a name="El2432O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513651"></a><font style="display:inline;color:#000000;"></font><a name="Ell932O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2332O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> Each </font><font style="display:inline;color:#000000;">party hereto represents and warrants to and agrees with each other party that the execution and delivery of this </font><a name="El2z22O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">and the consummation of the transactions contemplated hereby have been duly authorized on behalf of such party and do </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">21</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;"><font style="display:inline;color:#000000;">not violate any </font><a name="El2232O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">or other instrument applicable to such party or by which its assets are bound.&nbsp;&nbsp;This </font><a name="El2_22O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">does not, and shall not be construed to, give rise to the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association.&nbsp;&nbsp;The </font><a name="El2032O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and its subsidiaries shall be jointly and severally liable for all obligations of each such party pursuant to this </font><a name="El2132O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 4.2.</font>
			<a name="Eloc32O"></a><a name="_Toc70523466"></a><a name="_Toc70524302"></a><a name="_Toc70537361"></a><a name="_Toc70537729"></a><a name="_Toc70584783"></a><a name="_Toc71608964"></a><a name="_Toc71692523"></a><a name="_Toc72227366"></a><a name="_Toc73377990"></a><a name="_Toc73378840"></a><a name="_Toc73379367"></a><a name="_Toc127691996"></a><a name="_Toc127692817"></a><a name="_Toc127769359"></a><a name="_Toc146466488"></a><a name="_Toc147898579"></a><a name="_Toc147898753"></a><a name="_Toc191455849"></a><a name="_Toc191456041"></a><a name="_Toc192064835"></a><a name="_Toc192064868"></a><a name="_Ref293516188"></a><font style="display:inline;text-decoration:underline;color:#000000;">Notices</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="El9h32O"></a><a name="Elqg32O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513652"></a><font style="display:inline;color:#000000;"></font><a name="Elli32O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqf32O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Any notices, requests, demands and other communications required or permitted in this </font><a name="El2e32O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall be effective if in writing and (i) delivered personally, (ii) sent by facsimile or e-mail, or (iii) sent by overnight courier, in each case, addressed as follows:</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">If to the</font><font style="display:inline;font-weight:bold;">&nbsp;</font><a name="El2s32O"></a><font style="display:inline;color:#000000;">Company</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">to:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">AxoGen, Inc.</font><br /><font style="display:inline;">13631 Progress Blvd., Suite 400</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Alachua, Florida 32615</font><br /><font style="display:inline;">Attention: General Counsel</font><br /><font style="display:inline;">Telephone: (386) 462-6800</font><br /><font style="display:inline;">Facsimile: (386) 462-6801</font><br /><font style="display:inline;">Email: gfreitag@axogeninc.com </font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">With a copy to (which shall not constitute notice):</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">DLA Piper LLP (US) </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">One Liberty Place </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1650 Market Street, Suite 4900 </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Philadelphia, Pennsylvania 19103-7300 </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Consolas;font-size: 12pt;">
			<font style="display:inline;font-family:Times New Roman;font-size:12pt;">Attention: Fahd M.T. Riaz, Esq.</font><br /><font style="display:inline;font-family:Times New Roman;font-size:12pt;">Telephone: 215.656.3316 </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Facsimile: 215.606.2069</font><br /><font style="display:inline;">Email: Fahd.Riaz@dlapiper.com</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">If to Purchaser, to: </font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Essex Woodlands Fund IX, L.P.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">21 Waterway Avenue, Suite 225</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">The Woodlands, TX 77380</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Attn: Richard Kolodziejcyk, Chief Financial Officer</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">rkolodziejcyk@ewhv.com</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Office: (281) 364-8338</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Fax: (281) 364-9755</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">with a copy (which shall not constitute notice) to:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Ropes &amp; Gray LLP</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Three Embarcadero Center</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">22</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">San Francisco, CA 94111</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Attention: Thomas&nbsp;&nbsp;Holden</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">thomas.holden@ropesgray.com</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Office: (415) 315-2355</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Fax:&nbsp;&nbsp;(415) 315-4823</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><a name="Elno52O"></a><font style="display:inline;color:#000000;">Notice </font><font style="display:inline;">to the holder of record of any </font><a name="El2l52O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;">shall be deemed to be notice to the holder of such securities for all purposes </font><a name="El2m52O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Unless otherwise specified </font><a name="El2q52O"></a><font style="display:inline;color:#000000;">herein</font><font style="display:inline;">, such notices or other communications shall be deemed effective (i) on the date received, if personally delivered, (ii) on the date received if delivered by facsimile or e-mail on a </font><a name="El2v52O"></a><font style="display:inline;color:#000000;">Business Day</font><font style="display:inline;">, or if not delivered on a </font><a name="El2w52O"></a><font style="display:inline;color:#000000;">Business Day</font><font style="display:inline;">, on the first </font><a name="El2x52O"></a><font style="display:inline;color:#000000;">Business Day </font><font style="display:inline;">thereafter and (iii</font><a name="Elqr52O"></a><font style="display:inline;color:#000000;">) two (2) </font><a name="El2z52O"></a><font style="display:inline;color:#000000;">Business Days </font><font style="display:inline;color:#000000;">after </font><font style="display:inline;">being sent by overnight courier.&nbsp;&nbsp;Each of the parties hereto shall be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto.</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;;"> Section 4.3.</font>
			<a name="Elo_52O"></a><a name="_Toc70522981"></a><a name="_Toc70523460"></a><a name="_Toc70524296"></a><a name="_Toc70537355"></a><a name="_Toc70537723"></a><a name="_Toc70584777"></a><a name="_Toc71608958"></a><a name="_Toc71692517"></a><a name="_Toc72227360"></a><a name="_Toc73377984"></a><a name="_Toc73378834"></a><a name="_Toc73379361"></a><a name="_Toc127691990"></a><a name="_Toc127692811"></a><a name="_Toc127769353"></a><a name="_Toc146466481"></a><a name="_Toc147898572"></a><a name="_Toc147898747"></a><a name="_Toc191455846"></a><a name="_Toc191456038"></a><a name="_Toc192064832"></a><a name="_Toc192064865"></a><font style="display:inline;text-decoration:underline;color:#000000;">Termination and Effect of Termination</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqe62O"></a><a name="Elqb62O"></a><a name="El9c62O"></a><a name="El9d62O"></a><a name="Elqa62O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513653"></a><font style="display:inline;color:#000000;"></font><a name="Ellf62O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elng62O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2962O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El2162O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall terminate upon the date on which Purchaser no longer holds any </font><a name="El2362O"></a><font style="display:inline;color:#000000;">Registrable Securities</font><font style="display:inline;color:#000000;">, except for the provisions of Sections&nbsp;</font><a name="Ellh62O"></a><font style="display:inline;color:#000000;">3.9 </font><font style="display:inline;color:#000000;">and 3.10, which shall survive any such termination.&nbsp;&nbsp;No termination under this </font><a name="El2462O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall relieve any </font><a name="El2562O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">of liability for breach or Registration Expenses incurred prior to termination.</font><font style="display:inline;color:#000000;"> &nbsp;In the event this </font><a name="El2662O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">is terminated, each </font><a name="El2762O"></a><font style="display:inline;color:#000000;">Person </font><font style="display:inline;color:#000000;">entitled to indemnification rights pursuant to Section </font><a name="Elli62O"></a><font style="display:inline;color:#000000;">3.9 </font><a name="El2862O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">shall retain such indemnification rights with respect to any matter that </font><a name="Elol62O"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;color:#000000;">may be an indemnified liability thereunder and </font><a name="Elom62O"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;color:#000000;">occurred prior to such termination.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.4.</font>
			<a name="Elon62O"></a><a name="El2p62O"></a><a name="_Ref293516157"></a><font style="display:inline;color:#000000;text-decoration:underline;">Permitted Transferees</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqg72O"></a><a name="Elqe72O"></a><a name="El9d72O"></a><a name="Elqf72O"></a><a name="El2c72O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513654"></a><font style="display:inline;color:#000000;"></font><a name="Ellh72O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2b72O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> The </font><font style="display:inline;color:#000000;">rights of </font><a name="El2q62O"></a><font style="display:inline;color:#000000;">Purchaser </font><a name="El2772O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">may be assigned (but only with all related obligations as set forth below) in connection with a </font><a name="El2472O"></a><font style="display:inline;color:#000000;">Transfer </font><font style="display:inline;color:#000000;">of </font><a name="El2572O"></a><font style="display:inline;color:#000000;">Registrable Securities </font><font style="display:inline;color:#000000;">to a </font><a name="El2u62O"></a><font style="display:inline;color:#000000;">Permitted Transferee </font><font style="display:inline;color:#000000;">of Purchaser.&nbsp;&nbsp;Without prejudice to any other or similar conditions imposed </font><a name="El2872O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">with respect to any such </font><a name="El2w62O"></a><font style="display:inline;color:#000000;">Transfer</font><font style="display:inline;color:#000000;">, no assignment permitted under the terms of this Section </font><a name="Ellj72O"></a><font style="display:inline;color:#000000;">4.4 </font><font style="display:inline;color:#000000;">will be effective unless the </font><a name="El2x62O"></a><font style="display:inline;color:#000000;">Permitted Transferee </font><font style="display:inline;color:#000000;">to which the assignment is being made, if not the Purchaser, has delivered to the </font><a name="El2z62O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">a written acknowledgment and </font><a name="El2972O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">in form and substance reasonably satisfactory to the </font><a name="El2272O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">that the </font><a name="El2372O"></a><font style="display:inline;color:#000000;">Permitted Transferee </font><font style="display:inline;color:#000000;">will be bound by, and will be a party to, this </font><a name="El2_62O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;A </font><a name="El2072O"></a><font style="display:inline;color:#000000;">Permitted Transferee </font><font style="display:inline;color:#000000;">to whom rights are transferred pursuant to this Section </font><a name="Ellk72O"></a><font style="display:inline;color:#000000;">4.4 </font><font style="display:inline;color:#000000;">may not again </font><a name="El2a72O"></a><font style="display:inline;color:#000000;">transfer </font><font style="display:inline;color:#000000;">those rights to any other </font><a name="El2172O"></a><font style="display:inline;color:#000000;">Permitted Transferee</font><font style="display:inline;color:#000000;">, other than as provided in this Section </font><a name="Elll72O"></a><font style="display:inline;color:#000000;">4.4.</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.5.</font>
			<a name="Elop72O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Remedies</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elq182O"></a><a name="Elq_72O"></a><a name="El9z72O"></a><a name="Elq082O"></a><a name="El2y72O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513655"></a><font style="display:inline;color:#000000;"></font><a name="Ell282O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2x72O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">The </font><font style="display:inline;color:#000000;">parties to this </font><a name="El2r72O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall have all remedies available at law, in equity or otherwise in the event of any breach or violation of this </font><a name="El2s72O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or any default </font><a name="El2w72O"></a><font style="display:inline;color:#000000;">hereunder</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The parties acknowledge and agree that in the event of any breach of this </font><a name="El2t72O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, in addition to any other remedies that may be available, each of the parties hereto shall be </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">23</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (</font><a name="El2v72O"></a><font style="display:inline;color:#000000;">including </font><font style="display:inline;color:#000000;">preliminary or temporary relief) as may be appropriate in the circumstances.</font><a name="_Toc70523477"></a><a name="_Toc70524313"></a><a name="_Toc70537372"></a><a name="_Toc70537740"></a><a name="_Toc70584794"></a><a name="_Toc71608976"></a><a name="_Toc71692535"></a><a name="_Toc72227378"></a><a name="_Toc73378002"></a><a name="_Toc73378852"></a><a name="_Toc73379379"></a><a name="_Toc127692008"></a><a name="_Toc127692829"></a><a name="_Toc127769371"></a><a name="_Toc146466498"></a><a name="_Toc147898589"></a><a name="_Toc147898763"></a><a name="_Toc191455859"></a><a name="_Toc191456051"></a><a name="_Toc192064845"></a><a name="_Toc192064878"></a><a name="_Ref292316309"></a><a name="_Ref292316322"></a><font style="display:inline;color:#000000;"> &nbsp;No delay of or omission in the exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this </font><a name="El2u72O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.6.</font>
			<a name="Elo582O"></a><a name="_Toc70522978"></a><a name="_Toc70523457"></a><a name="_Toc70524293"></a><a name="_Toc70537352"></a><a name="_Toc70537720"></a><a name="_Toc70584774"></a><a name="_Toc71608955"></a><a name="_Toc71692514"></a><a name="_Toc72227357"></a><a name="_Toc73377981"></a><a name="_Toc73378831"></a><a name="_Toc73379358"></a><a name="_Toc127691987"></a><a name="_Toc127692808"></a><a name="_Toc127769350"></a><a name="_Toc146466479"></a><a name="_Toc147898570"></a><a name="_Toc147898745"></a><a name="_Toc191455844"></a><a name="_Toc191456036"></a><a name="_Toc192064830"></a><a name="_Toc192064863"></a><a name="_Toc70523467"></a><a name="_Toc70524303"></a><a name="_Toc70537362"></a><a name="_Toc70537730"></a><a name="_Toc70584784"></a><a name="_Toc71608965"></a><a name="_Toc71692524"></a><a name="_Toc72227367"></a><a name="_Toc73377991"></a><a name="_Toc73378841"></a><a name="_Toc73379368"></a><a name="_Toc127691997"></a><a name="_Toc127692818"></a><a name="_Toc127769360"></a><a name="_Toc146466489"></a><a name="_Toc147898580"></a><a name="_Toc147898754"></a><a name="_Toc191455850"></a><a name="_Toc191456042"></a><a name="_Toc192064836"></a><a name="_Toc192064869"></a><a name="_Ref292316282"></a><font style="display:inline;text-decoration:underline;color:#000000;">Amendments</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqm82O"></a><a name="Elqj82O"></a><a name="El9k82O"></a><a name="El9l82O"></a><a name="Elqi82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513656"></a><font style="display:inline;color:#000000;"></font><a name="Elln82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elnp82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2h82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El2782O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">may not be orally amended, modified, extended or terminated, nor shall any oral waiver of any of its terms be effective.</font><a name="_Toc70522979"></a><a name="_Toc70523458"></a><a name="_Toc70524294"></a><a name="_Toc70537353"></a><a name="_Toc70537721"></a><a name="_Toc70584775"></a><a name="_Toc71608956"></a><a name="_Toc71692515"></a><a name="_Toc72227358"></a><a name="_Toc73377982"></a><a name="_Toc73378832"></a><a name="_Toc73379359"></a><a name="_Toc127691988"></a><a name="_Toc127692809"></a><a name="_Toc127769351"></a><a name="_Toc146466480"></a><a name="_Ref293515889"></a><a name="_Toc147898571"></a><a name="_Toc147898746"></a><a name="_Toc191455845"></a><a name="_Toc191456037"></a><a name="_Toc192064831"></a><a name="_Toc192064864"></a><font style="display:inline;color:#000000;"> &nbsp;This </font><a name="El2882O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">may be amended, modified, extended or terminated, and the provisions </font><a name="El2e82O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">may be waived, only by an </font><a name="El2g82O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">in writing signed by the </font><a name="El2c82O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and </font><font style="display:inline;color:#000000;">Purchaser.</font><font style="display:inline;color:#000000;"> &nbsp;Each such amendment, modification, extension or termination shall be binding upon each party hereto.</font><font style="display:inline;color:#000000;"> &nbsp;In addition, each party hereto may waive any right </font><a name="El2f82O"></a><font style="display:inline;color:#000000;">hereunder </font><font style="display:inline;color:#000000;">by an instrument in writing signed by such party.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.7.</font>
			<a name="Elos82O"></a><a name="_Toc70523474"></a><a name="_Toc70524310"></a><a name="_Toc70537369"></a><a name="_Toc70537737"></a><a name="_Toc70584791"></a><a name="_Toc71608973"></a><a name="_Toc71692532"></a><a name="_Toc72227375"></a><a name="_Toc73377999"></a><a name="_Toc73378849"></a><a name="_Toc73379376"></a><a name="_Toc127692005"></a><a name="_Toc127692826"></a><a name="_Toc127769368"></a><a name="_Toc146466495"></a><a name="_Toc147898586"></a><a name="_Toc147898760"></a><a name="_Toc191455856"></a><a name="_Toc191456048"></a><a name="_Toc192064842"></a><a name="_Toc192064875"></a><font style="display:inline;text-decoration:underline;color:#000000;">Governing Law</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elq192O"></a><a name="Elqz82O"></a><a name="El9_82O"></a><a name="El9092O"></a><a name="Elqy82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513657"></a><font style="display:inline;color:#000000;"></font><a name="Ell292O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2x82O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El2u82O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">and all claims arising out of or based upon this </font><a name="El2v82O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or relating to the subject matter </font><a name="El2w82O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">shall be governed by and construed in accordance with the domestic substantive laws of the </font><a name="Elz492O"></a><a name="Elx392O"></a><font style="display:inline;color:#000000;">State of New York </font><font style="display:inline;color:#000000;">without giving effect to any choice or conflict of laws provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.8.</font>
			<a name="Elo792O"></a><a name="_Toc70523475"></a><a name="_Toc70524311"></a><a name="_Toc70537370"></a><a name="_Toc70537738"></a><a name="_Toc70584792"></a><a name="_Toc71608974"></a><a name="_Toc71692533"></a><a name="_Toc72227376"></a><a name="_Toc73378000"></a><a name="_Toc73378850"></a><a name="_Toc73379377"></a><a name="_Toc127692006"></a><a name="_Toc127692827"></a><a name="_Toc127769369"></a><a name="_Toc146466496"></a><a name="_Toc147898587"></a><a name="_Toc147898761"></a><a name="_Toc191455857"></a><a name="_Toc191456049"></a><a name="_Toc192064843"></a><a name="_Toc192064876"></a><font style="display:inline;text-decoration:underline;color:#000000;">Consent to Jurisdiction</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqj92O"></a><a name="Elqh92O"></a><a name="El9g92O"></a><a name="Elqi92O"></a><a name="El2f92O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513658"></a><font style="display:inline;color:#000000;"></font><a name="Ellk92O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2e92O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> Each </font><font style="display:inline;color:#000000;">party to this </font><a name="El2992O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, by its execution </font><a name="El2b92O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="Elom92O"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;color:#000000;">hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the </font><a name="Elzv92O"></a><font style="display:inline;color:#000000;">State of New York </font><font style="display:inline;color:#000000;">for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this </font><a name="El2s92O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or relating to the subject matter </font><a name="El2t92O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="Elow92O"></a><font style="display:inline;color:#000000;">(ii) </font><font style="display:inline;color:#000000;">hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is improper, or that this </font><a name="El2x92O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or the subject matter </font><a name="El2y92O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">or thereof may not be enforced in or by such court and </font><a name="Eloz92O"></a><font style="display:inline;color:#000000;">(iii) </font><font style="display:inline;color:#000000;">hereby agrees not to commence or maintain any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this </font><a name="El2_92O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or relating to the subject matter </font><a name="El20a2O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">or thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the </font><a name="El21a2O"></a><font style="display:inline;color:#000000;">transfer </font><font style="display:inline;color:#000000;">or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise.&nbsp;&nbsp;Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this </font><a name="El2d92O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, the court in which such litigation is being heard shall be deemed to be included in </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">24</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">clause </font><a name="Elll92O"></a><font style="display:inline;color:#000000;">(i) </font><font style="display:inline;color:#000000;">above.&nbsp;&nbsp;Notwithstanding the foregoing, any party to this </font><a name="El2a92O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction.&nbsp;&nbsp;Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by </font><a name="Elzp92O"></a><font style="display:inline;color:#000000;">New York </font><font style="display:inline;color:#000000;">law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant to Section </font><a name="Elln92O"></a><font style="display:inline;color:#000000;">4.2 </font><a name="El2c92O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">is reasonably calculated to give actual notice.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.9.</font>
			<a name="Elo2a2O"></a><a name="_Toc70523476"></a><a name="_Toc70524312"></a><a name="_Toc70537371"></a><a name="_Toc70537739"></a><a name="_Toc70584793"></a><a name="_Toc71608975"></a><a name="_Toc71692534"></a><a name="_Toc72227377"></a><a name="_Toc73378001"></a><a name="_Toc73378851"></a><a name="_Toc73379378"></a><a name="_Toc127692007"></a><a name="_Toc127692828"></a><a name="_Toc127769370"></a><a name="_Toc146466497"></a><a name="_Toc147898588"></a><a name="_Toc147898762"></a><a name="_Toc191455858"></a><a name="_Toc191456050"></a><a name="_Toc192064844"></a><a name="_Toc192064877"></a><a name="_Ref293516213"></a><font style="display:inline;text-decoration:underline;color:#000000;">WAIVER OF JURY TRIAL</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqba2O"></a><a name="Elq8a2O"></a><a name="Elq7a2O"></a><a name="El99a2O"></a><a name="Elqaa2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513659"></a><font style="display:inline;color:#000000;"></font><a name="Ellca2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El26a2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">TO </font><font style="display:inline;color:#000000;">THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS </font><a name="El24a2O"></a><font style="display:inline;color:#000000;">AGREEMENT </font><font style="display:inline;color:#000000;">OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING.&nbsp;&nbsp;EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION </font><a name="Ellfa2O"></a><font style="display:inline;color:#000000;">4.9 </font><font style="display:inline;color:#000000;">CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS </font><a name="El25a2O"></a><font style="display:inline;color:#000000;">AGREEMENT</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;ANY PARTY HERETO </font><a name="Elxha2O"></a><font style="display:inline;color:#000000;">MAY </font><font style="display:inline;color:#000000;">FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION </font><a name="Ellga2O"></a><font style="display:inline;color:#000000;">4.9 </font><font style="display:inline;color:#000000;">WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.10.</font>
			<a name="Eloka2O"></a><font style="display:inline;text-decoration:underline;color:#000000;">Merger; Binding Effect, Etc.</font><font style="display:inline;color:#000000;">&nbsp;</font><a name="El9xa2O"></a><a name="Elqva2O"></a><a name="Elqwa2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513660"></a><font style="display:inline;color:#000000;"></font><a name="Ellya2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="Elqua2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El2oa2O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;"> constitutes the entire </font><a name="El2sa2O"></a><font style="display:inline;color:#000000;">agreement </font><font style="display:inline;color:#000000;">of the parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective heirs, </font><a name="El2ta2O"></a><font style="display:inline;color:#000000;">representatives</font><font style="display:inline;color:#000000;">, successors and permitted assigns.&nbsp;&nbsp;Except as otherwise expressly provided </font><a name="El2ra2O"></a><font style="display:inline;color:#000000;">herein</font><font style="display:inline;color:#000000;">, &nbsp;</font><a name="El2pa2O"></a><font style="display:inline;color:#000000;">neither Purchaser n</font><font style="display:inline;color:#000000;">or any other party hereto may assign any of its respective rights or delegate any of its respective obligations under this </font><a name="El2qa2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">without the prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing shall be null and void.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.11.</font>
			<a name="Elo1b2O"></a><a name="_Toc70523469"></a><a name="_Toc70524305"></a><a name="_Toc70537364"></a><a name="_Toc70537732"></a><a name="_Toc70584786"></a><a name="_Toc71608967"></a><a name="_Toc71692526"></a><a name="_Toc72227369"></a><a name="_Toc73377993"></a><a name="_Toc73378843"></a><a name="_Toc73379370"></a><a name="_Toc127691999"></a><a name="_Toc127692820"></a><a name="_Toc127769362"></a><a name="_Toc146466491"></a><a name="_Toc147898582"></a><a name="_Toc147898756"></a><a name="_Toc191455852"></a><a name="_Toc191456044"></a><a name="_Toc192064838"></a><a name="_Toc192064871"></a><font style="display:inline;text-decoration:underline;color:#000000;">Counterparts</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elq9b2O"></a><a name="Elq6b2O"></a><a name="El97b2O"></a><a name="El98b2O"></a><a name="Elq5b2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513661"></a><font style="display:inline;color:#000000;"></font><a name="Ellab2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El24b2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This </font><a name="El23b2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">may be executed in multiple counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one instrument.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;;"> Section 4.12.</font>
			<a name="Elodb2O"></a><a name="_Toc70523470"></a><a name="_Toc70524306"></a><a name="_Toc70537365"></a><a name="_Toc70537733"></a><a name="_Toc70584787"></a><a name="_Toc71608968"></a><a name="_Toc71692527"></a><a name="_Toc72227370"></a><a name="_Toc73377994"></a><a name="_Toc73378844"></a><a name="_Toc73379371"></a><a name="_Toc127692000"></a><a name="_Toc127692821"></a><a name="_Toc127769363"></a><a name="_Toc146466492"></a><a name="_Toc147898583"></a><a name="_Toc147898757"></a><a name="_Toc191455853"></a><a name="_Toc191456045"></a><a name="_Toc192064839"></a><a name="_Toc192064872"></a><font style="display:inline;text-decoration:underline;color:#000000;">Severability</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqob2O"></a><a name="Elqmb2O"></a><a name="El9lb2O"></a><a name="Elqnb2O"></a><a name="El2kb2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513662"></a><font style="display:inline;color:#000000;"></font><a name="Ellpb2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El2jb2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> In </font><font style="display:inline;color:#000000;">the event that any provision </font><a name="El2fb2O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">would, under applicable law, be invalid or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law.&nbsp;&nbsp;The provisions </font><a name="El2gb2O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">are severable, and in the event any provision </font><a name="El2hb2O"></a><font style="display:inline;color:#000000;">hereof </font><font style="display:inline;color:#000000;">should be held invalid or unenforceable in any respect, it shall not </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">25</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">invalidate, render unenforceable or otherwise affect any other provision </font><a name="El2ib2O"></a><font style="display:inline;color:#000000;">hereof</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;;"> Section 4.13.</font>
			<a name="Elosb2O"></a><a name="_Toc70523471"></a><a name="_Toc70524307"></a><a name="_Toc70537366"></a><a name="_Toc70537734"></a><a name="_Toc70584788"></a><a name="_Toc71608969"></a><a name="_Toc71692528"></a><a name="_Toc72227371"></a><a name="_Toc73377995"></a><a name="_Toc73378845"></a><a name="_Toc73379372"></a><a name="_Toc127692001"></a><a name="_Toc127692822"></a><a name="_Toc127769364"></a><a name="_Toc146466493"></a><a name="_Toc147898584"></a><a name="_Toc147898758"></a><a name="_Toc191455854"></a><a name="_Toc191456046"></a><a name="_Toc192064840"></a><a name="_Toc192064873"></a><font style="display:inline;text-decoration:underline;color:#000000;">No Recourse</font><font style="display:inline;color:#000000;">. &nbsp;</font><a name="Elqcc2O"></a><a name="Elqac2O"></a><a name="El99c2O"></a><a name="Elqbc2O"></a><a name="El28c2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="_Toc427513663"></a><font style="display:inline;color:#000000;"></font><a name="Elldc2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><a name="El27c2O"></a><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;"> Notwithstanding </font><font style="display:inline;color:#000000;">anything that may be expressed or implied in this </font><a name="El2ub2O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">, the </font><a name="El23c2O"></a><font style="display:inline;color:#000000;">Company </font><font style="display:inline;color:#000000;">and </font><a name="El24c2O"></a><font style="display:inline;color:#000000;">Purchaser</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">covenant, agree and acknowledge that no recourse under this </font><a name="El2vb2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or any documents or instruments delivered in connection with this </font><a name="El2wb2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">shall be had against any current or future director, officer, employee, general or limited partner or member of Purchaser</font><a name="El25c2O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or of any </font><a name="El2xb2O"></a><font style="display:inline;color:#000000;">Affiliate </font><font style="display:inline;color:#000000;">or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of Purchaser</font><a name="El2yb2O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or any current or future member of Purchaser</font><a name="El2zb2O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or any current or future director, officer, employee, partner or member of Purchaser</font><a name="El26c2O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">or of any </font><a name="El2_b2O"></a><font style="display:inline;color:#000000;">Affiliate </font><font style="display:inline;color:#000000;">or assignee thereof, as such, for any obligation of Purchaser</font><a name="El20c2O"></a><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">under this </font><a name="El21c2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">or any documents or instruments delivered in connection with this </font><a name="El22c2O"></a><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;color:#000000;">for any claim based on, in respect of or by reason of such obligations or their creation.</font></p></td></tr></table></div>
		<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-style:italic;">&nbsp;</font><a name="Elkhc2O"></a><font style="display:inline;font-style:italic;color:#000000;">[Signature pages follow]</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 36pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			<font style="display:inline;">26</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:11.7647058823529%;margin-right:11.7647058823529%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 36pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;font-weight:bold;">IN WITNESS WHEREOF</font><font style="display:inline;">, the undersigned has duly executed this </font><a name="El2kc2O"></a><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;">as of the date first above written.</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">Company:</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">AxoGen, Inc.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:30.6pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
					<p style="margin:0pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By:&nbsp;&nbsp;______________________________</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 24pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;">Name: Greg Freitag</font><br /><font style="display:inline;"></font></font><br /><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">Title:&nbsp;&nbsp;Chief Financial Officer, General Counsel &amp; VP Business Development&nbsp; </font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt 0pt 0pt 252pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 252pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 252pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 36pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font><font style="display:inline;font-weight:bold;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;font-weight:bold;">IN WITNESS WHEREOF</font><font style="display:inline;">, the undersigned has duly executed this </font><font style="display:inline;color:#000000;">Agreement </font><font style="display:inline;">as of the date first above written.</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">Purchaser:</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">Essex Woodlands Fund IX, L.P.</font></p>
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By:&nbsp;&nbsp;Essex Woodlands Fund IX-GP, L.P., its General Partner</font></p>
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By: Essex Woodlands IX, LLC, its General Partner</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By:&nbsp;&nbsp;______________________________</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:230.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:72pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:248.40pt;padding:0pt 6.5pt;">
					<p style="margin:0pt 0pt 24pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"></font><font style="text-indent:0pt;margin-left:0pt; padding-right:16pt;text-align:left"><font style="display:inline;">Name: </font><br /><font style="display:inline;"></font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;">Title: Manager</font></font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">EXHIBIT </font><font style="display:inline;font-weight:bold;">B</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">EXCLUDED COMPANIES (</font><font style="display:inline;font-weight:bold;">SECTION</font><font style="display:inline;font-weight:bold;"> 4.6(b))</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Endologix</font><font style="display:inline;">,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Inc.</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Entellus </font><font style="display:inline;">Medical, Inc. </font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Bioventus</font><font style="display:inline;"> LLC</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Oraya Therapeutics Inc. </font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">480 Biomedical, Inc.</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Arsenal Medical, Inc.</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Endgenitor </font><font style="display:inline;">T</font><font style="display:inline;">echnologies</font><font style="display:inline;">, Inc.</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Christel House International</font>
		</p>
		<p style="margin:0pt;line-height:150%;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Essex Woodlands Fund IX, L.P. and its affiliates, other than its portfolio companies and its investment advisers.</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
	</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>axgn-20150930ex102f235f2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--HTML document created with Merrill Bridge  6.0.103.0-->
<!--Created on: 11/5/2015 2:59:14 PM-->
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	<head>
		<title>
			axgn_Ex10_2
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	</head>
	<body><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXHIBIT 10.2</font>
		</p>
		<p style="margin:6pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">DEVELOPMENT, LICENSE &amp; OPTION AGREEMENT</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">This Development, License &amp; Option Agreement (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Agreement</font><font style="display:inline;font-size:11pt;">&#x201D;), dated</font><font style="display:inline;font-size:11pt;"> November </font><font style="display:inline;font-size:11pt;">3</font><font style="display:inline;font-size:11pt;">, &nbsp;</font><font style="display:inline;font-size:11pt;">2014 (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Effective Date</font><font style="display:inline;font-size:11pt;">&#x201D;) is made by and among </font><font style="display:inline;font-weight:bold;font-size:11pt;">AxoGen, </font><font style="display:inline;font-weight:bold;font-size:11pt;">Corporation</font><font style="display:inline;font-size:11pt;">, a </font><font style="display:inline;font-size:11pt;">Delaware</font><font style="display:inline;font-size:11pt;"> corporation with an address of&nbsp;&nbsp;13631 Progress Blvd., Suite 400, Alachua, FL 32615 (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">AxoGen</font><font style="display:inline;font-size:11pt;">&#x201D;),&nbsp;&nbsp;Sensory Management Services LLC (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">SMS</font><font style="display:inline;font-size:11pt;">&#x201D;), a limited liability company with an address of</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">10 Luce Del Sol</font><font style="display:inline;font-size:11pt;">, &nbsp;</font><font style="display:inline;font-size:11pt;">Unit 3</font><font style="display:inline;font-size:11pt;">, &nbsp;</font><font style="display:inline;font-size:11pt;">Henderson, Nevada 89011</font><font style="display:inline;font-size:11pt;">,</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">AxoGen and </font><font style="display:inline;font-size:11pt;">SMS </font><font style="display:inline;font-size:11pt;">herein referred to each as a &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Party</font><font style="display:inline;font-size:11pt;">&#x201D; and collectively, the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Parties</font><font style="display:inline;font-size:11pt;">&#x201D;.</font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">R E C I T A L S</font>
		</p>
		<p style="margin:6pt 0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">WHEREAS</font><font style="display:inline;font-size:11pt;">, SMS has developed a proprietary pressure-specified sensory device</font><font style="display:inline;font-size:11pt;">, DIGI-Grip and Pinch device</font><font style="display:inline;font-size:11pt;"> &nbsp;(</font><font style="display:inline;font-size:11pt;">collectively </font><font style="display:inline;font-size:11pt;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">PSSD</font><font style="display:inline;font-size:11pt;">&#x201D;); </font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">WHEREAS</font><font style="display:inline;font-size:11pt;">, AxoGen and SMS wish to enter into a development license and option agreement for </font><font style="display:inline;font-size:11pt;">AxoGen</font><font style="display:inline;font-size:11pt;"> to </font><font style="display:inline;font-size:11pt;">validate and commercialize an updated PSSD </font><font style="display:inline;font-size:11pt;">(Next Generation PSSD)</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">and </font><font style="display:inline;font-size:11pt;">SMS to </font><font style="display:inline;font-size:11pt;">grant AxoGen a license under the Licensed Technology</font><font style="display:inline;font-size:11pt;">, as defined </font><font style="display:inline;font-size:11pt;">below,</font><font style="display:inline;font-size:11pt;"> to make, </font><font style="display:inline;font-size:11pt;">to develop</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">and commercialize </font><font style="display:inline;font-size:11pt;">such </font><font style="display:inline;font-size:11pt;">N</font><font style="display:inline;font-size:11pt;">ext </font><font style="display:inline;font-size:11pt;">G</font><font style="display:inline;font-size:11pt;">eneration PSSD product</font><font style="display:inline;font-size:11pt;">; and </font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">WHEREAS</font><font style="display:inline;font-size:11pt;">, SMS wishes to grant to AxoGen, and AxoGen wishes to obtain, an option for AxoGen to purchase assets relating to its existing proprietary PSSD. </font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">NOW, THEREFORE</font><font style="display:inline;font-size:11pt;">, in consideration of the mutual covenants set forth in this Agreement, AxoGen and SMS, intending to be legally bound, hereby agree as follows:</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010490"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article I.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">DEFINITIONS</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:num"><font style="display:inline;font-size:11pt;color:#000000;"></font><font style="display:inline;font-size:11pt;color:#000000;">Unless specifically set forth to the contrary herein, the following terms, whether used in the singular or plural, shall have the respective meanings set forth below:</font></font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Affiliate</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean (a) any corporation or business entity of which fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership or membership interest are owned, controlled or held, directly or indirectly, by </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen or SMS, as applicable;</font><font style="display:inline;font-size:11pt;color:#000000;"> (b) any corporation or business entity which, directly or indirectly, owns, controls or holds fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership or membership interest, of AxoGen or SMS, as applicable; (c) any corporation or business entity of which fifty percent (50%) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership or membership interest are owned, controlled or held, directly or indirectly, by a corporation or business </font><font style="display:inline;font-size:11pt;color:#000000;">entity described in (a) or (b);</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">and </font><font style="display:inline;font-size:11pt;color:#000000;">(d) possession, directly or indirectly, of the power to direct or cause the direction of management or policies of the entity in question (whether through ownership of securities or other ownership interests, by contract or otherwise)</font><font style="display:inline;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;Applicable Laws&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean </font><font style="display:inline;font-size:11pt;color:#000000;">the applicable laws, rules, regulations, guidelines or other requirements of any governmental authority and Regulatory Authority, that may be in effect from time to time in the Territory.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;Assets&#x201D; </font><font style="display:inline;font-size:11pt;color:#000000;">shall mean the Existing </font><font style="display:inline;font-size:11pt;color:#000000;">Product, Licensed Technology,</font><font style="display:inline;font-size:11pt;color:#000000;"> Tangible Assets</font><font style="display:inline;font-size:11pt;color:#000000;"> and</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Existing Product </font><font style="display:inline;font-size:11pt;color:#000000;">Regulatory Approvals</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Calendar Quarter</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">shall mean any period of three (3) consecutive calendar months ending on March 31, June 30, September 30 or December 31.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Calendar Year</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean a period of twelve consecutive (12) months commencing on January 1 and ending on December 31.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Control</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">shall mean, when used in relation to an intellectual or other property right, the right of one Party to license or transfer such intellectual or other property right to the other Party without breaching any agreement or obligations to any other Third Party.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;Development Activities&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean </font><font style="display:inline;font-size:11pt;color:#000000;">any and all processes and activities conducted in researching, optimizing, developing and/or seeking, and obtaining Regulatory Approvals for the </font><font style="display:inline;font-size:11pt;color:#000000;">Existing Product or </font><font style="display:inline;font-size:11pt;color:#000000;">Next Generation Product. &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Develop</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D; and &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Developing</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D; shall have their correlative meanings.&nbsp; </font>
		</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">1</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;Existing </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Product</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean SMS&#x2019; existing proprietary </font><font style="display:inline;font-size:11pt;color:#000000;">PSSD device, including </font><font style="display:inline;font-size:11pt;color:#000000;">sensory measurement device, box</font><font style="display:inline;font-size:11pt;color:#000000;">, DIGIT-grip device, </font><font style="display:inline;font-size:11pt;color:#000000;">and </font><font style="display:inline;font-size:11pt;color:#000000;">Pinch device</font><font style="display:inline;font-size:11pt;color:#000000;"> and </font><font style="display:inline;font-size:11pt;color:#000000;">including touch screen, laptop and </font><font style="display:inline;font-size:11pt;color:#000000;">PDA versions of such PSSD device, as described on </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Exhibit </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">B</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">FDA</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean the United States Food and Drug Administration or any successor regulatory agency.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Licensed Technology</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean all of the following: (a) the Patent Rights and (b) all SMS Know-How.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Net Sales&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean, for any time period, the total of all invoiced gross sales in that time period by AxoGen or by an Affiliate of AxoGen, </font><font style="display:inline;font-size:11pt;color:#000000;">for</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Next Generation</font><font style="display:inline;font-size:11pt;color:#000000;"> Product</font><font style="display:inline;font-size:11pt;color:#000000;">s</font><font style="display:inline;font-size:11pt;color:#000000;"> sold by AxoGen, an Affiliate of AxoGen, or a sublicensee of AxoGen to arm&#x2019;s length purchasers (but excluding sales by AxoGen to an Affiliate or sublicensee for resale to such purchasers), net of, where applicable:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">discounts, credits, allowances and adjustments granted to non-sublicensee Third Parties consistent with AxoGen&#x2019;s usual course of dealing for its products other than the Existing Product (including, without limitation, government mandated and managed healthcare negotiated rebates and </font><font style="display:inline;font-size:11pt;color:#000000;">distributors&#x2019;, wholesalers&#x2019; or trade discounts or rebates, and rebates for distribution services);</font><a name="_Ref3239241"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">price adjustments to customers&#x2019; inventories;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">charge-backs or rebates actually allowed and taken on such sales in such amounts as are customary in the trade and are specifically related to the Existing Product (excluding cash discounts, except for normal trade discounts for early payment of invoices);</font><a name="_Ref3220418"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">free goods, including without limitation promotional samples;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (e)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">import and customs duties and taxes including </font><font style="display:inline;font-size:11pt;color:#000000;">sales, excise, turnover, inventory, value-added, and similar taxes assessed on the sale of the Existing Product (but excluding income taxes)</font><font style="display:inline;font-size:11pt;color:#000000;"> to the extent separately included in the amount billed;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (f)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">other payments required by law to be made under Medicaid, Medicare or other government special medical assistance programs; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (g)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">transportation charges and insurance that are separately itemized;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (h)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">credits or allowances for Existing Product returns and rejected Existing Product; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (i)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">amounts repaid, credited or written off by reason of uncollectible debt, rejections, recalls, billing errors and returns</font><font style="display:inline;font-size:11pt;color:#000000;">; and</font><a name="_Ref3220423"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (j)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">other allowances (including third party royalties) actually given by </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen or an Affiliate of AxoGen to Third Parties.</font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;Next Generation Product&#x201D; </font><font style="display:inline;font-size:11pt;">shall mean </font><font style="display:inline;font-size:11pt;">the</font><font style="display:inline;font-size:11pt;"> PSSD product </font><font style="display:inline;font-size:11pt;">validated and updated</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">by </font><font style="display:inline;font-size:11pt;">AxoGen</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">pursuant to this agreement representing </font><font style="display:inline;font-size:11pt;">changes made to</font><font style="display:inline;font-size:11pt;"> the Existing Product</font><font style="display:inline;font-size:11pt;"> by AxoGen</font><font style="display:inline;font-size:11pt;"> and its suppliers</font><font style="display:inline;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Patent Rights</font><font style="display:inline;font-weight:bold;font-size:11pt;">&#x201D;</font><font style="display:inline;font-size:11pt;"> shall</font><a name="_Ref26260360"></a><font style="display:inline;font-size:11pt;"> mean the patent and patent applications</font><font style="display:inline;font-size:11pt;">, if any, including those that have expired</font><font style="display:inline;font-size:11pt;"> (a) Controlled </font><font style="display:inline;font-size:11pt;">or previously controlled </font><font style="display:inline;font-size:11pt;">by SMS (or any of its Affiliates) as of the Effective Date or at any time thereafter relating to Existing Product, and (b) necessary or useful for the development, manufacture or commercialization of the Next Generation Product, including: (i) the patents and patent applications set forth on </font><font style="display:inline;font-weight:bold;font-size:11pt;">Exhibit </font><font style="display:inline;font-weight:bold;font-size:11pt;">C</font><font style="display:inline;font-size:11pt;">; (ii) any divisions, continuations, continuations-in-part, reissues, re-examinations, renewals, extensions, supplementary protection certificates, and the like of any patent and patent applications set forth in subsection (i), and (c) foreign equivalents of subsections (i) and (ii).&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;Regulatory Approval&#x201D;</font><font style="display:inline;font-size:11pt;"> shall mean the permission or consent granted by any relevant Regulatory Authority for the commercialization of the </font><font style="display:inline;font-size:11pt;">Existing </font><font style="display:inline;font-size:11pt;">Product and/or Next Generation Product.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;">Regulatory Authority</font><font style="display:inline;font-weight:bold;font-size:11pt;">&#x201D; &nbsp;</font><font style="display:inline;font-size:11pt;">shall mean any applicable government regulatory authority involved in granting approvals for the development, manufacture and commercialization of the Existing Product and Next Generation Product, including without limitation, in the United States, the FDA, and any successor government authority having substantially the same function, and foreign equivalents thereof.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">SMS Know-How</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-size:11pt;color:#000000;"> shall mean all information and materials (including but not limited to, discoveries, improvements, processes, copyrights (whether or not registered), computer software</font><font style="display:inline;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">proprietary reference data bases, </font><font style="display:inline;font-size:11pt;color:#000000;">customers lists, </font><font style="display:inline;font-size:11pt;color:#000000;">design history file</font><font style="display:inline;font-size:11pt;color:#000000;">s</font><font style="display:inline;font-size:11pt;color:#000000;"> including all change documentation</font><font style="display:inline;font-size:11pt;color:#000000;"> and graphical user interface designs, data, inventions, know-how </font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">2</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;color:#000000;">and trade secrets, patentable or otherwise) relating to the Licensed Technology</font><font style="display:inline;font-size:11pt;color:#000000;"> and</font><font style="display:inline;font-size:11pt;color:#000000;"> to the Existing Product, which at the Effective Date or during the term of this Agreement: (a) are in the possession or Control of SMS or any of its Affiliates, (b) were not provided by AxoGen or an Affiliate of AxoGen, (c) are not generally known outside SMS and (d) are necessary or useful to AxoGen in connection with the development, manufacture or commercialization of an Existing Product and/or Next Generation Product.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;Tangible Assets&#x201D; </font><font style="display:inline;font-size:11pt;">shall mean</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">all tangible assets related to the Existing Product, including, but not limited to the assets on </font><font style="display:inline;font-weight:bold;font-size:11pt;">Exhibit A</font><font style="display:inline;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;">&#x201C;Third Party&#x201D;</font><font style="display:inline;font-size:11pt;"> shall mean any person or entity that is not a Party or an Affiliate of a Party.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">Other Definitions</font><font style="display:inline;font-size:11pt;">.&nbsp;&nbsp;The following definitions have the meanings ascribed to them in the corresponding Section: </font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 60.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:54.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:54.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;background-color: #BFBFBF;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Definition</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;background-color: #BFBFBF;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Section</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Agreement</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Introduction</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">AxoGen</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Introduction</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">AxoGen Indemnitees</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">9.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Confidential Information </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">8.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Deferred Purchase Price</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">5.02 </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Disclosing Party</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">8.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Effective Date</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Introduction</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Exercise Fee</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">5.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Inventions</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">6.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Milestone</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">5.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Notice Period</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">10.04</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Option </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.02(a)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Option Term</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.02(b)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Party(ies)</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Introduction</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">PSSD</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Recitals</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Quarterly Payment</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">5.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Receiving Party</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">8.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">SMS</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Introduction </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">SMS Indemnitees</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:54.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">9.03</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article II.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">DEVELOPMENT</font><a name="_Toc216010509"></a><a name="_Toc216010493"></a><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;"> &amp; COMMERCIALIZATION</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 2.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Development</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;"> shall conduct the </font><font style="display:inline;font-size:11pt;color:#000000;">D</font><font style="display:inline;font-size:11pt;color:#000000;">evelopment </font><font style="display:inline;font-size:11pt;color:#000000;">A</font><font style="display:inline;font-size:11pt;color:#000000;">ctivities to develop a Next Generation Product.&nbsp; </font><a name="_Toc216010494"></a>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 2.02</font><a name="_Toc287348126"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Development Costs</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;All costs relating to development shall be </font><font style="display:inline;font-size:11pt;color:#000000;">the responsibility of AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 2.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Product Permits and Licenses</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">SMS shall obtain and maintain the necessary licenses and permits for </font><font style="display:inline;font-size:11pt;color:#000000;">sale</font><font style="display:inline;font-size:11pt;color:#000000;"> of the Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;"> shall obtain and maintain the necessary licenses and permits for development, manufacture, testing</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">storage</font><font style="display:inline;font-size:11pt;color:#000000;"> and commercialization</font><font style="display:inline;font-size:11pt;color:#000000;"> of the Next Generation Product as required under this Agreement.</font><a name="_Toc287348127"></a>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article III.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">GRANT OF RIGHTS</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 3.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">License Grant from SMS to AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, </font><font style="display:inline;font-size:11pt;color:#000000;">during the Term of this Agreement, </font><font style="display:inline;font-size:11pt;color:#000000;">SMS hereby grants to AxoGen and its Affiliates</font><font style="display:inline;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">subject to the license to be provided in Section 3.02 (c)</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-size:11pt;color:#000000;"> an exclusive, irrevocable, perpetual, world-wide right and license with the right to grant sublicenses</font><font style="display:inline;font-size:11pt;color:#000000;"> in</font><font style="display:inline;font-size:11pt;color:#000000;"> the Licensed Technology</font><font style="display:inline;font-size:11pt;color:#000000;"> and Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">to develop,</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">make, have made and</font><font style="display:inline;font-size:11pt;color:#000000;"> use</font><font style="display:inline;font-size:11pt;color:#000000;"> the</font><font style="display:inline;font-size:11pt;color:#000000;"> Next Generation Product. </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Ref372305332"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 3.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Option</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><a name="_Ref372305279"></a>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Grant to AxoGen.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;Subject to the terms and conditions of this Agreement, during the Option Term </font><font style="display:inline;font-size:11pt;color:#000000;">of</font><font style="display:inline;font-size:11pt;color:#000000;"> this Agreement, SMS hereby grants to Company an exclusive option to purchase the Assets (the &#x201C;Option&#x201D;).</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Exercise of Option</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;AxoGen may exercise the Option any time from the Effective Date until </font><font style="display:inline;font-size:11pt;color:#000000;">April 1, 2016</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">(&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Option Term</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;) by providing written notice to SMS (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Exercise Notice</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;).&nbsp;&nbsp;Within </font><font style="display:inline;font-size:11pt;color:#000000;">thirty (30) days of SMS </font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">3</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:6pt 0pt 6pt 36pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;;"><font style="display:inline;font-size:11pt;color:#000000;">receiving such Exercise Notice, SMS shall execute any and all documents to effectuate the transfer of the Assets to AxoGen, including but not limited to, executing, and causing any of its employees</font><font style="display:inline;font-size:11pt;color:#000000;"> or Affiliates to execute</font><font style="display:inline;font-size:11pt;color:#000000;"> assignment and assumption agreements.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Warranty on Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen will have no responsib</font><font style="display:inline;font-size:11pt;color:#000000;">ility</font><font style="display:inline;font-size:11pt;color:#000000;"> for service and warranty on Existing Products </font><font style="display:inline;font-size:11pt;color:#000000;">either </font><font style="display:inline;font-size:11pt;color:#000000;">prior </font><font style="display:inline;font-size:11pt;color:#000000;">to or after </font><font style="display:inline;font-size:11pt;color:#000000;">exercise of the Option and is not responsible, and assumes no obligation, for</font><font style="display:inline;font-size:11pt;color:#000000;"> any liabilities of SMS or its A</font><font style="display:inline;font-size:11pt;color:#000000;">ffiliates. </font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 3.03&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Option Payment</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">No Implied License</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Each Party acknowledges that the rights granted in this Agreement are limited to the </font><font style="display:inline;font-size:11pt;color:#000000;">terms and agreements </font><font style="display:inline;font-size:11pt;color:#000000;">expressly granted</font><font style="display:inline;font-size:11pt;color:#000000;"> and provided in this Agreement</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Accordingly, except for the rights expressly granted under this Agreement, no right, title, or interest of any nature whatsoever is granted whether by implication, estoppel, reliance, or otherwise, by either Party to the other Party.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 3.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Claw Back of Assets After Option Exercise</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">During a period of 5 years from the exercise of the Option, if AxoGen does not continue to diligently pursue the commercialization, or once commercialized, the sale of Next Generation Products, SMS may demand</font><font style="display:inline;font-size:11pt;color:#000000;">, in its reasonable discretion,&nbsp;&nbsp;the</font><font style="display:inline;font-size:11pt;color:#000000;"> return of the Assets, any Existing Products held by AxoGen and revocation of all licenses provided to AxoGen herein</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">Upon </font><font style="display:inline;font-size:11pt;color:#000000;">SMS&#x2019;s notice of revocation to AxoGen, </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">must </font><font style="display:inline;font-size:11pt;color:#000000;">return </font><font style="display:inline;font-size:11pt;color:#000000;">the Assets and Existing Products to SMS within 6</font><font style="display:inline;font-size:11pt;color:#000000;">0 days.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">After an effective revocation neither party will have any obligation to the other party as a result of this Agreement, except the return of Assets and Existing Product as provided in this Section 3.04.</font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article IV.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">REGULATORY</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 4.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">SMS Data Technology Transfer</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;At the </font><font style="display:inline;font-size:11pt;color:#000000;">reasonable </font><font style="display:inline;font-size:11pt;color:#000000;">request of AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-size:11pt;color:#000000;"> anytime after the Effective Date, SMS shall transfer, at no cost to AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">, except for costs AxoGen will pay associated with the physical transfer of any items</font><font style="display:inline;font-size:11pt;color:#000000;"> both to receive such items or to send them back in the event the Option is not exercised</font><font style="display:inline;font-size:11pt;color:#000000;"> or a revocation occurs pursuant to Section 3.04</font><font style="display:inline;font-size:11pt;color:#000000;">, all SMS Know-How that exists in written or electronic form.&nbsp;&nbsp;SMS shall provide to AxoGen all information required for AxoGen to </font><font style="display:inline;font-size:11pt;color:#000000;">update a design history file or update an existing Regulatory Filing or </font><font style="display:inline;font-size:11pt;color:#000000;">complete a</font><font style="display:inline;font-size:11pt;color:#000000;"> new</font><font style="display:inline;font-size:11pt;color:#000000;"> Regulatory Filing for the Next Generation Product.&nbsp; </font>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010511"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article V.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">PAYMENTS</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010496"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 5.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Milestone</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;"> and Other</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;"> Payments to SMS</font><font style="display:inline;font-size:11pt;text-decoration:underline;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:12pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:6pt 0pt;">
			<font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Milestone </font><font style="display:inline;text-decoration:underline;color:#000000;">Payments</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">In</font><font style="display:inline;color:#000000;"> partial consideration for the </font><font style="display:inline;color:#000000;">license to Licensed Technology </font><font style="display:inline;color:#000000;">and O</font><font style="display:inline;color:#000000;">ption</font><font style="display:inline;color:#000000;"> granted to AxoGen under Article 3, AxoGen shall pay SMS the following amounts after the first achievement by AxoGen, its Affiliates or sublicensees, as the case may be, of each of the following milestones with respect to the Next Generation Product</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">(each, a &#x201C;</font><font style="display:inline;font-weight:bold;color:#000000;">Milestone</font><font style="display:inline;color:#000000;">&#x201D;):</font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:69.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:02.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:27.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:69.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #D9D9D9;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Milestone</font></p>
				</td>
				<td valign="bottom" style="width:02.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #D9D9D9;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:27.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #D9D9D9;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Amounts&nbsp;(US&nbsp;dollars)</font></p>
				</td>
				<td valign="bottom" style="width:00.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #D9D9D9;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:69.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Next Generation Product receives a reimbursement code from a Regulatory Authority in the United States </font></p>
				</td>
				<td valign="bottom" style="width:02.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:25.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">100,000.00&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:69.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Issuance of a Next Generation Product Patent that was originally approved by AxoGen for filing.&nbsp; </font></p>
				</td>
				<td valign="bottom" style="width:02.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:25.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">25,000.00&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:69.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Total of Potential Milestones</font></p>
				</td>
				<td valign="bottom" style="width:02.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:25.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">125,000.00 &nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:00.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">provided that:</font><a name="_Toc216010497"></a>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> (i)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;color:#000000;">No Milestone </font><font style="display:inline;color:#000000;">payment </font><font style="display:inline;color:#000000;">shall be paid more than one time irrespective of the number of the Next Generation Products Developed;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> (ii)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;color:#000000;">Payment shall not be owed for a Milestone that is not achieved; and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-top:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> (iii)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;color:#000000;">Milestone payments shall be payable by AxoGen to SMS within forty-five (45) calendar days after achievement of the Milestone.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:12pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;margin:6pt 0pt;">
			<font style="display:inline;text-decoration:underline;color:#000000;">Other Payments</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">The </font><font style="display:inline;color:#000000;">Next Generation </font><font style="display:inline;color:#000000;">Product </font><font style="display:inline;color:#000000;">Patent as provided in Section 5.01 (a) </font><font style="display:inline;color:#000000;">provides for an instrument for use initially in the areas of acute nerve injury/</font><font style="display:inline;color:#000000;">regeneration in the upper or lower extremity, </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">4</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:6pt 0pt 6pt 36pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;;"><font style="display:inline;color:#000000;">chronic nerve compression such as carpal tunnel syndrome and tarsal tunnel syndrome, and neuropathy related to chemotherapy</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> diabetes and unknown etiology, and its treatment as </font><font style="display:inline;color:#000000;">it </font><font style="display:inline;color:#000000;">relates to individual patients.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">If SMS or its Affiliates provide to AxoGen in writing </font><font style="display:inline;color:#000000;">inventions </font><font style="display:inline;color:#000000;">or concepts which result in granted patents to AxoGen outside of the Next Generation Product Patent</font><font style="display:inline;color:#000000;">,</font><font style="display:inline;color:#000000;"> AxoGen will pay SMS or its Affiliates $25,000 per patent granted without any cap as to the maximum number of payments that may be made pursuant to this Section 5.01 (b).&nbsp;&nbsp;Establishment of such payments hereby is to provide SMS and its Affiliates the incentive to grow AxoGen&#x2019;s product line and product usage beyond the New Generation Product Patent.&nbsp;&nbsp;Notwithstanding the forgoing, no payment will be owed if AxoGen can provide proof</font><font style="display:inline;color:#000000;"> in writing</font><font style="display:inline;color:#000000;"> that it conceived of any </font><font style="display:inline;color:#000000;">invention</font><font style="display:inline;color:#000000;"> or concepts </font><font style="display:inline;color:#000000;">both (1) independently, without use or reference to information provided by SMS or its Affiliates, and (2) </font><font style="display:inline;color:#000000;">prior to the written disclosure provided by SMS or its Affiliates. </font><font style="display:inline;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<a name="_Toc216010495"></a><a name="_Toc216010498"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 5.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Purchase Price Upon Exercise of Option</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">Upon AxoGen&#x2019;s exercise of the Option set forth in Section 3.01 and assignment of the Assets, AxoGen shall pay SMS (a) </font><font style="display:inline;font-size:11pt;color:#000000;">fifteen </font><font style="display:inline;font-size:11pt;color:#000000;">thousand dollars ($</font><font style="display:inline;font-size:11pt;color:#000000;">1</font><font style="display:inline;font-size:11pt;color:#000000;">5,000.00) to purchase the Assets (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Exercise Fee</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;), </font><font style="display:inline;font-size:11pt;color:#000000;">(b) a fee </font><font style="display:inline;font-size:11pt;color:#000000;">equal to fifteen percent (15%) of Net</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Sales </font><font style="display:inline;font-size:11pt;color:#000000;">on</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-size:11pt;color:#000000;">Existing or </font><font style="display:inline;font-size:11pt;color:#000000;">Next Generation Product</font><font style="display:inline;font-size:11pt;color:#000000;"> (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Deferred Purchase Price</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-size:11pt;color:#000000;"> for a period of 10 years from the Option exercise date</font><font style="display:inline;font-size:11pt;color:#000000;">; (c) SMS actual out of pocket costs for up to 5 Existing Products that they may have in inventory, such up to 5 Existing Products being included in the Assets,&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">(d) AxoGen will provide SMS with one Next Generation Product from the first twenty Next Generation Products produced</font><font style="display:inline;font-size:11pt;color:#000000;">, and provide upgrades so long as the Deferred Purchase Price is being paid</font><font style="display:inline;font-size:11pt;color:#000000;">, at no cost to SMS </font><font style="display:inline;font-size:11pt;color:#000000;">; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">and (d</font><font style="display:inline;font-size:11pt;color:#000000;">) AxoGen will assume the responsibility of deferred payments owed to</font><font style="display:inline;font-family:Times;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times;color:#000000;">Cybernetic Research Laboratories, Inc. by SMS on the sale of Existing Products to a maximum of $</font><font style="display:inline;font-family:Times;color:#000000;">39,500</font><font style="display:inline;font-family:Times;color:#000000;"> (it being agreed that such amount prior to exercise of the Option will be reduced by $500 for every Existing Product sold by SMS</font><font style="display:inline;font-family:Times;color:#000000;"> after the execution of this Agreement</font><font style="display:inline;font-family:Times;color:#000000;">)</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">Payment of the Deferre</font><font style="display:inline;font-size:11pt;color:#000000;">d Purchase Price shall be made </font><font style="display:inline;font-size:11pt;color:#000000;">sixty (60) days after the end of each Calendar Quarter on all Net Sales in the preceding quarter (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Quarterly Payment</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;).&nbsp;&nbsp;Each Quarterly Payment shall be accompanied by a report detailing the total Net Sales for the preceding Calendar Quarter. </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010500"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 5.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Exempt Sales</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The Deferred Purchase Price shall not be payable under Section&nbsp;5.02 above with respect to sales of the Existing Product</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">among AxoGen, its Affiliates and sublicensees for resale to a Third</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Party.&nbsp;&nbsp;In no event shall AxoGen make payments to SMS hereunder with respect to the sale of any Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;"> to its Affiliates or sublicensees.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010502"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 5.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Currency and Manner of Payment</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;Payments under this Agreement shall be made in United States dollars.&nbsp; </font><a name="_Toc216010503"></a><font style="display:inline;font-size:11pt;color:#000000;">All sums due to SMS under this Agreement shall be payable in immediately avai</font><font style="display:inline;font-size:11pt;color:#000000;">lable fund</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;color:#000000;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010504"></a><font style="display:inline;font-weight:bold;color:#000000;font-size:11pt;">Section 5.05</font><font style="display:inline;font-weight:bold;color:#000000;font-size:11pt;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Tax Withholding</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Any tax, duty or other levy paid or required to be withheld by AxoGen or its sublicensees on account of Deferred Purchase Price or other payments payable to SMS under this Agreement shall be deducted from the amount of Deferred Purchase Price or payments otherwise due, provided that AxoGen shall make such deductions only to the minimum extent required by the relevant jurisdiction.&nbsp;&nbsp;AxoGen shall secure and send to SMS proof of any such taxes, duties or other levies withheld and paid by AxoGen or its sublicensees for the benefit of SMS,</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">and cooperate at SMS&#x2019;s reasonable request and expense </font><font style="display:inline;color:#000000;font-size:11pt;">to ensure that amounts withheld are reduced to the fullest extent permitted by the relevant jurisdiction.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010512"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article VI.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">INTELLECTUAL PROPERTY</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 6.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Ownership of Inventions</font><font style="display:inline;font-size:11pt;color:#000000;">. All inventions, discoveries, data, work product, results and information (&#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Inventions</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;) conceived, generated, discovered or made by any Party, its employees, agents and consultants in connection with this Agreement, </font><font style="display:inline;font-size:11pt;color:#000000;">the Next Generation Product,</font><font style="display:inline;font-size:11pt;color:#000000;"> use of the Licensed Technology and/or Tangible Assets shall be owned by AxoGen</font><a name="_Toc216010513"></a><font style="display:inline;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 6.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Disclosure of Patent Rights</font><font style="display:inline;font-size:11pt;color:#000000;">. SMS shall ensure that only those of its and its Affiliate&#x2019;s personnel or permitted sub-contractors who are necessary to perform SMS&#x2019; obligations under this Agreement shall perform work under this Agreement and have access to the Confidential Information of AxoGen.&nbsp;&nbsp;SMS shall require and ensure that all such personnel, prior to performing any work under this Agreement, shall have: (a) been advised of SMS&#x2019; obligations of confidentiality under this Agreement and have agreed in writing to confidentiality obligations at least as strict as those applicable to SMS under this Agreement; and (b) signed and delivered to SMS written agreements assigning to SMS all Inventions, discoveries and works of authorship arising from or related to work performed under this Agreement; each to the extent permitted by applicable law.&nbsp;&nbsp;For clarity, SMS shall require </font><font style="display:inline;font-size:11pt;color:#000000;">Affiliates </font><font style="display:inline;font-size:11pt;color:#000000;">to execute an employee invention disclosure</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">5</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;color:#000000;">and assignment agreement, and </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen shall be a third-party beneficiary to such agreement.&nbsp;&nbsp;SMS shall </font><font style="display:inline;font-size:11pt;color:#000000;">reasonably </font><font style="display:inline;font-size:11pt;color:#000000;">disclose to AxoGen in writing any and all Inventions or improvements, whether patentable or not, made or conceived in connection with, and all data and information arising from, this Agreement.&nbsp;&nbsp;Such disclosures of Inventions shall identify all inventors, the date such Inventions were conceived, and shall describe such inventions in sufficient detail to permit the other Party to evaluate the ownership, subject matter and patentability of such Inventions.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><a name="_Toc216010514"></a>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010517"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 6.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Filing, Prosecution, Maintenance</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen shall have the sole right, using in-house or outside legal counsel selected at AxoGen&#x2019;s sole discretion, to prepare, file, prosecute, maintain and extend patent applications and patents concerning all Inventions.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010518"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 6.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Enforcement of </font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Patent Rights</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;In the event that a Party learns that any of the Patent Rights are infringed or misappropriated by activities</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">of a Third</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Party, such Party shall promptly notify in writing the other Party hereto.&nbsp;&nbsp;AxoGen shall have the initial right (but not the obligation) to enforce such Patent Rights and SMS agrees to join such proceeding, at AxoGen&#x2019;s expense, if required by law for AxoGen to bring such action.&nbsp; </font><a name="_Toc216010520"></a><font style="display:inline;font-size:11pt;color:#000000;">AxoGen agrees to indemnify SMS, its Affiliates and Luiann Greer and A. Lee Dellon for any expenses actually and reasonably paid or incurred by SMS in connection with any action or proceeding by AxoGen to enforce such Patent Rights</font><font style="display:inline;font-size:11pt;color:#000000;">, except for such actions or proceedings that are a result of activity by such parties prior to the Effective Date and not disclosed to AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">In the event AxoGen is required to provide indemnification pursuant to the sentence immediately preceding this sentence, </font><font style="display:inline;font-size:11pt;color:#000000;">SMS, its Affiliates and Luiann Greer and A. Lee Dellon shall have the right to advancement by AxoGen of any and all expenses actually and reasonably paid or incurred in connection with AxoGen&#x2019;s enforcement of its Patent </font><font style="display:inline;font-size:11pt;color:#000000;">Rights</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 6.05</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Infringement Claims</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;If the manufacture, sale, use or importation of an Existing Product or Next Generation Product</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">results in any claim, suit or proceeding alleging patent infringement against SMS or AxoGen, such Party shall promptly notify in writing the other Party hereto.&nbsp;&nbsp;If AxoGen is named as a party to such claim, suit or proceeding, or if AxoGen intervenes, at its own expense and through counsel of its own choice, in any such claim, suit or proceeding initiated against SMS (which intervention SMS will not oppose), AxoGen shall have the right to control the defense and settlement of such claim, suit or proceeding, at its own expense, using counsel of its own choice</font><font style="display:inline;font-size:11pt;color:#000000;">, provided that SMS shall have the right to participate in the defense at its own expense</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;No Party shall enter into any agreement that makes any admission regarding (a)&nbsp;wrongdoing on the part of the other Party, or (b)&nbsp;the invalidity, unenforceability or infringement of any Patent Rights, without the prior written consent of the other Party.&nbsp;&nbsp;The Parties shall cooperate with each other in connection with any such claim, suit or proceeding and shall keep each other reasonably informed of all material developments in connection with any such claim, suit or proceeding.</font>
		</p>
		<p style="margin:6pt 0pt 0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010521"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article VII.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">REPRESENTATIONS, WARRANTIES</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;"> &amp; COVENANTS</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010522"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 7.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Mutual Representations and Warranties</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Each Party warrants and represents to the other that:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">as of the Effective Date, it has the full right and authority to enter into this Agreement;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">as of the Effective Date, there are no existing or threatened actions, suits or claims pending against it with respect to its right to enter into and perform its obligations under this Agreement;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">there is nothing in any Third Party agreement or understanding, written or oral, entered into or agreed to by such Party as of the Effective Date, that, in any way, will preclude such Party&#x2019;s ability to perform all of the obligations undertaken by it hereunder, and that it will not enter into any agreement after the Effective Date under which such performance would be precluded; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;color:#000000;font-size:11pt;">it is not a party to any agreement or arrangement with any Third Party or under any obligation or restriction </font><font style="display:inline;font-size:11pt;color:#000000;">agreement (including any outstanding order, judgment or decree of any court or administrative agency)</font><font style="display:inline;color:#000000;font-size:11pt;"> which in any way limits or conflicts with its ability to fulfill any of its obligations under this Agreement</font><font style="display:inline;font-size:11pt;color:#000000;">; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (e)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">this Agreement is a legal and valid obligation binding upon it and enforceable in accordance with its terms.&nbsp;&nbsp;The execution, delivery and performance of this Agreement by such Party does not violate any law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it; and </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (f)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">it has never been, is not currently, and, during the term of this Agreement, will not become, a Debarred Entity, Excluded Entity or Convicted Entity.&nbsp;&nbsp;The Parties further warrant and represent that no Debarred Individual, Debarred Entity, Excluded Individual, Excluded Entity, Convicted Individual or Convicted Entity has performed </font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">6</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:6pt 0pt 6pt 36pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;;"><font style="display:inline;font-size:11pt;color:#000000;">or rendered, or will perform or render, any services or assistance on its behalf relating to activities taken pursuant to this Agreement. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:11pt;;"> (iv)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">A &#x201C;Debarred Individual&#x201D; is an individual who has been debarred by the FDA pursuant to 21 U.S.C. &#xA7;335a (a) or (b) from providing services in any capacity to a person that has an approved or pending drug product application, or an employer, employee or partner of a Debarred Individual;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:11pt;;"> (v)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">A &#x201C;Debarred Entity&#x201D; is a corporation, partnership or association that has been debarred by the FDA pursuant to 21 U.S.C. &#xA7;335a (a) or (b) from submitting or assisting in the submission of any abbreviated drug application, or an employee, partner, shareholder, member, subsidiary or affiliate of a Debarred Entity;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:11pt;;"> (vi)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">An &#x201C;Excluded Individual&#x201D; or &#x201C;Excluded Entity&#x201D; is (x) an individual or entity who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal health care programs such as Medicare or Medicaid by the Office of the Inspector General (OIG/HHS) of the U.S. Department of Health and Human Services, or (y) is an individual or entity who has been excluded debarred, suspended or is otherwise ineligible to participate in federal procurement and non-procurement programs, including those produced by the U.S. General Services Administration (GSA); and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:53pt;"><p style="width:53pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
				<font style="margin:0pt 0pt 6pt;font-weight:normal;border-top:1pt none #D9D9D9;font-family:Times New Roman;font-size:11pt;;"> (vii)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt;margin:0pt 0pt 6pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">A &#x201C;Convicted Individual&#x201D; or &#x201C;Convicted Entity&#x201D; is an individual or entity who has been convicted of a criminal offense that falls within the ambit of 42 U.S.C. &#xA7;1320a &#x2013; 7(a), but has not yet been excluded, debarred, suspended or otherwise declared ineligible.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (g)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">&#x201C;Notwithstanding anything to the contrary in this Agreement, as a material part of the consideration for this Agreement, AxoGen and SMS agree that AxoGen is taking the Existing Product&nbsp;&nbsp;"AS IS" with any and all latent and patent defects and that there is no warranty by Seller that the Existing Product is fit for a particular purpose. AxoGen acknowledges that it is not relying upon any representation, statement or other assertion with respect to the Existing Product condition, but is relying upon its own due diligence, including its own examination of the Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;">. AxoG</font><font style="display:inline;font-size:11pt;color:#000000;">en takes the Existing Product under the express understanding there are no express or implied warranties (except for limited warranties of title set above.)&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 7.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">SMS Representations, Warranties &amp; Covenants</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">SMS represents, warrants and covenants to AxoGen that:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">SMS owns all right, title and interest in and to the Assets; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">SMS has not entered into any licensing or other agreement with any Third Party in conflict with the rights granted to AxoGen hereby;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">SMS has full control of the Licensed Technology</font><font style="display:inline;font-size:11pt;color:#000000;"> and Assets</font><font style="display:inline;font-size:11pt;color:#000000;">, is entitled to grant the rights, licenses and options granted under Article 3, and is not currently subject to any Third Party agreement or to any outstanding order, judgment or decree of any court or administrative agency that restricts it in any way from using the Licensed Technology</font><font style="display:inline;font-size:11pt;color:#000000;"> or Assets</font><font style="display:inline;font-size:11pt;color:#000000;"> or from licensing, sublicensing or assigning to AxoGen, any know-how or patent rights that would otherwise be necessary or useful for the manufacture, development or commercialization of the Next Generation Product;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">there are no existing or threatened actions, suits or claims pending against SMS with respect to the Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;">, Assets</font><font style="display:inline;font-size:11pt;color:#000000;"> and the Licensed Technology;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (e)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">as of the Effective Date, SMS has not granted, and will not grant during the term of this Agreement, any right, license or interest in or to the Licensed Technology that is in conflict with the rights or licenses granted under this Agreement, nor</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-size:11pt;color:#000000;"> as of the Effective Date, has it encumbered any Asset, SMS Know-How</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">and/or Patent Rights and SMS will not encumber any Asset, SMS Know-How</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">and/or Patent Rights;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (f)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">the Licensed Technology licensed or sublicensed to AxoGen pursuant to this Agreement has not been obtained by SMS or its Affiliates (or its or their predecessors-in-interest) in violation of any contractual or fiduciary obligation owed by any of them to a Third Party or by misappropriation of the trade secrets of any Third Party;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (g)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">the Patent Rights listed on </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Exhibit </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">C</font><font style="display:inline;font-size:11pt;color:#000000;"> list all Patent Rights SMS</font><font style="display:inline;font-size:11pt;color:#000000;"> had</font><font style="display:inline;font-size:11pt;color:#000000;"> relating to the Licensed Technology.&nbsp;&nbsp;To the best of SMS&#x2019;s knowledge, the issued claims under any issued Patent Rights </font><font style="display:inline;font-size:11pt;color:#000000;">were</font><font style="display:inline;font-size:11pt;color:#000000;"> valid and in full force and effect; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (h)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">SMS has no knowledge of any infringement by any Third Party of any of the Licensed Technology as of the Effective Date; </font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">7</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (i)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">upon AxoGen&#x2019;s exercise of the Option, SMS shall not, directly or indirectly, make, use, or sell any Existing Product or any Next Generation Product to any Third Party</font><font style="display:inline;font-size:11pt;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (j)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">Except for the sale of Existing Product as provided herein prior to exercise of the Option and allowance to distribute pursuant to Section 3.02(c)</font><font style="display:inline;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">during the Term, SMS and its Affiliates will not</font><font style="display:inline;font-size:11pt;color:#000000;"> distribute, sell, develop or advise others regarding instruments, devices or products that could compete with the</font><font style="display:inline;font-size:11pt;color:#000000;"> Existi</font><font style="display:inline;font-size:11pt;color:#000000;">ng Product</font><font style="display:inline;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-size:11pt;color:#000000;"> Next Generation Product or any similar</font><font style="display:inline;font-size:11pt;color:#000000;"> diagnostic product or device developed by the Company</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (k)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">Approval necessary from all Regulatory Authorities</font><font style="display:inline;font-size:11pt;color:#000000;"> and are legally adequate</font><font style="display:inline;font-size:11pt;color:#000000;"> to allow for its sales</font><font style="display:inline;font-size:11pt;color:#000000;"> and distribution</font><font style="display:inline;font-size:11pt;color:#000000;"> and</font><font style="display:inline;font-size:11pt;color:#000000;"> is exactly as described in </font><font style="display:inline;font-size:11pt;color:#000000;">applicable </font><font style="display:inline;font-size:11pt;color:#000000;">510(k) clearance letter</font><font style="display:inline;font-size:11pt;color:#000000;">s, except </font><font style="display:inline;font-size:11pt;color:#000000;">as to </font><font style="display:inline;font-size:11pt;color:#000000;">any and all changes that have been made to the device since </font><font style="display:inline;font-size:11pt;color:#000000;">any</font><font style="display:inline;font-size:11pt;color:#000000;"> 510(k) was first released to market </font><font style="display:inline;font-size:11pt;color:#000000;">as provided in Exhibit</font><font style="display:inline;font-size:11pt;color:#000000;"> A;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (l)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">any 510(k) applicable to the Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;"> has not </font><font style="display:inline;font-size:11pt;color:#000000;">been </font><font style="display:inline;font-size:11pt;color:#000000;">previously transferred to another party</font><font style="display:inline;font-size:11pt;color:#000000;">;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (m)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">has provide complete copies</font><font style="display:inline;font-size:11pt;color:#000000;"> of </font><font style="display:inline;font-size:11pt;color:#000000;">applicable </font><font style="display:inline;font-size:11pt;color:#000000;">510(k)</font><font style="display:inline;font-size:11pt;color:#000000;">s for the Existing Products </font><font style="display:inline;font-size:11pt;color:#000000;">including correspondence between </font><font style="display:inline;font-size:11pt;color:#000000;">SMS</font><font style="display:inline;font-size:11pt;color:#000000;"> and any of its Affiliates</font><font style="display:inline;font-size:11pt;color:#000000;"> and FDA, all letter to files concerning changes to labeling, components or design and the design history file including all change documentation</font><font style="display:inline;font-size:11pt;color:#000000;">; and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (n)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">has p</font><font style="display:inline;font-size:11pt;color:#000000;">rovide</font><font style="display:inline;font-size:11pt;color:#000000;">d</font><font style="display:inline;font-size:11pt;color:#000000;"> complaint files, repo</font><font style="display:inline;font-size:11pt;color:#000000;">rts of adverse events, removals and</font><font style="display:inline;font-size:11pt;color:#000000;"> device master records </font><font style="display:inline;font-size:11pt;color:#000000;">for the Existing Product.</font></p></td></tr></table></div>
		<p style="margin:6pt 0pt 0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010524"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article VIII.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">CONFIDENTIALITY AND EXCHANGE OF INFORMATION</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010525"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 8.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Confidential Information</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;As used in this Agreement, the term &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Confidential Information</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D; means, except as set forth in this Section 8.01, all information that is secret, confidential or proprietary, whether provided in written, oral, graphic, video, electronic or other form, provided pursuant to this Agreement by a Party (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Disclosing Party</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;) to the other Party (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Receiving Party</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;); provided that the Disclosing Party shall prominently mark any such tangible or electronic documents as &#x201C;Confidential&#x201D; and shall identify any such orally or visually disclosed information as &#x201C;Confidential&#x201D; at the time of first disclosure to the Receiving Party and shall summarize such Confidential Information in a writing delivered to Receiving Party within thirty (30) days after such first disclosure.&nbsp;&nbsp;Notwithstanding the foregoing sentence, Confidential Information shall exclude any information or materials that:</font><a name="_Toc216010526"></a>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">was already known to the Receiving Party before receipt of such information under this Agreement;</font><a name="_Toc216010527"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">was or is independently developed by or for the Receiving Party without reliance on information received from the other Party under this Agreement, as evidenced by such Receiving Party&#x2019;s written records;</font><a name="_Toc216010528"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (c)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">is hereafter disclosed to the Receiving Party without restriction by a Third Party having a legal right to make such disclosure; or</font><a name="_Toc216010529"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (d)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">is or becomes part of the public domain through no breach of this Agreement by the Receiving Party.</font><a name="_Toc216010530"></a></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 8.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Confidentiality Obligations</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">During the </font><font style="display:inline;font-size:11pt;color:#000000;">term of this Agreement and for </font><font style="display:inline;font-size:11pt;color:#000000;">seven (7) years thereafter, the Receiving Party shall exercise all reasonable care to prevent the disclosure of Confidential Information received from the Disclosing Party and shall not use or permit to be used such Confidential Information for any purpose other than that expressly permitted under this Agreement without the Disclosing Party&#x2019;s prior written approval.&nbsp;&nbsp;The Receiving Party may disclose Confidential Information of the Disclosing Party to the Receiving Party&#x2019;s employees, consultants, contractors and Affiliates so long as such persons agree in writing, before such disclosure, to abide by non&#x2013;disclosure obligations at least as strict as with those set forth in this Article 8.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010531"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 8.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Required Disclosures</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">Nothing in this Agreement shall be construed to restrict the Parties from disclosing Confidential Information as required by law or court order or other governmental order or request, provided in each case the Party requested to make such disclosure shall timely inform the other Party and use all reasonable efforts to limit the disclosure and maintain the confidentiality of such Confidential Information to the extent possible.&nbsp;&nbsp;In addition, the Party requested to make such disclosure will allow the other Party to prevent or limit such disclosure by appropriate legal means.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010532"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 8.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Public Announcements</font><font style="display:inline;font-size:11pt;color:#000000;">. No public announcement or other disclosure to any Third Party</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">concerning the existence of, terms, or subject matter of this Agreement shall be made, either directly or indirectly, by any Party to this Agreement, except as may be legally required or as may be required for recording purposes, without first obtaining the approval of the other Party (not to be unreasonably withheld) and agreement upon the nature and text of such announcement or disclosure; </font><font style="display:inline;font-style:italic;font-size:11pt;color:#000000;">provided</font><font style="display:inline;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-style:italic;font-size:11pt;color:#000000;">however</font><font style="display:inline;font-size:11pt;color:#000000;">, that each Party shall be entitled to disclose this Agreement or its terms (a) as required by law, including without limitation any disclosure requirements imposed by a stock exchange or securities regulatory agency</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">8</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;color:#000000;">or CMS</font><font style="display:inline;font-size:11pt;color:#000000;">, and (b) to such Party&#x2019;s financial, tax and legal advisors, and to potential investors, corporate partners or acquirers, in each case provided that such persons or entities have confidentiality obligations at least as stringent as set forth in this Article 8.&nbsp;&nbsp;The Party desiring to make any legally-required public announcement or other disclosure (including those which may be required for recording purposes) shall inform the other Party of the proposed announcement or disclosure in reasonably sufficient time prior to public release, which shall be at least ten (10) business days prior to release of such proposed announcement or disclosure, and shall provide the other Party with a written copy thereof, in order to allow such other Party to comment upon such announcement or disclosure.&nbsp;&nbsp;Each Party agrees that it shall cooperate fully with the other with respect to all disclosures regarding this Agreement to the Securities Exchange Commission and any other governmental or regulatory agencies, including requests for confidential treatment of Confidential Information of either Party included in any such disclosure.</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010534"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 8.05</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Bankruptcy</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;All Confidential</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Information disclosed by one Party to the other Party shall remain the intellectual property of the Disclosing Party.&nbsp;&nbsp;In the event that a court or other legal or administrative tribunal, directly or through an appointed master, trustee or receiver, assumes partial or complete control over the assets of a Party to this Agreement based on the insolvency or bankruptcy of such Party, the bankrupt or insolvent Party shall promptly notify the court or other tribunal (a) that Confidential Information received from the other Party under this Agreement remains the property of the other Party, and (b) of the confidentiality obligations under this Agreement.&nbsp;&nbsp;In addition, the bankrupt or insolvent Party shall, to the extent permitted by law, take all steps necessary or desirable to maintain the confidentiality of the other Party&#x2019;s Confidential Information and to ensure that the court, other tribunal or appointee maintains such information in confidence in accordance with the terms of this Agreement.</font><a name="_Toc216010536"></a>
		</p>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article IX.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">INDEMNIFICATION</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 9.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Indemnification of AxoGen</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;SMS shall defend, indemnify and hold harmless AxoGen and its Affiliates, and their respective directors, officers, employees, agents and counsel, and the successors and assigns of the foregoing (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">AxoGen Indemnitees</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;), from and against any and all liabilities, damages, losses, costs or expenses (including reasonable attorneys&#x2019; and professional fees and other expenses of litigation and/or arbitration) incurred in connection with a claim, suit or proceeding brought by a Third Party against an AxoGen Indemnitee, arising from or occurring as a result of: (a)&nbsp; the failure by SMS </font><font style="display:inline;font-size:11pt;color:#000000;">to take reasonable measures to </font><font style="display:inline;font-size:11pt;color:#000000;">obtain or maintain rights under the Licensed Technology sufficient to grant AxoGen a license under Section 3.01 and an Option under Section 3.02(a) of this Agreement; (b) SMS&#x2019; development, manufacture and commercialization of the Existing Product, including all warranties and service costs for the Existing Product</font><font style="display:inline;font-size:11pt;color:#000000;"> prior to exercise of the Option</font><font style="display:inline;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">or </font><font style="display:inline;font-size:11pt;color:#000000;">(c) SMS&#x2019;s material breach of any representation or warranty set forth in Section 7.01 or 7.02, except, in each case, to the extent caused by the negligence or willful misconduct of a AxoGen Indemnitee.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010538"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 9.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Procedure</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;An AxoGen Indemnitee that intends to claim indemnification under this Article 9 shall promptly notify SMS in writing of any loss, claim, damage, liability or action in respect of which the AxoGen Indemnitee or any of its Affiliates, sublicensees or their directors, officers, employees, agents or counsel intend to claim such indemnification, and SMS shall have the right to participate in, and, to the extent SMS so desires, to assume the defense thereof with counsel</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">of its own choice, subject to Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en&#x2019;s approval of such counsel, which approval may not be unreasonably withheld</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The indemnity agreement in this Article 9 shall not apply to amounts paid in settlement of any loss, claim, damage, liability or action if such settlement is made without the consent of SMS, which consent shall not be withheld unreasonably.&nbsp;&nbsp;The failure to deliver written notice to SMS within a reasonable time after the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve SMS of any liability to the AxoGen Indemnitee under this Article 9.&nbsp;&nbsp;At SMS&#x2019; request, the AxoGen Indemnitee under this Article 9, and its employees and agents, shall cooperate fully with SMS and its legal representatives in the investigation and defense of any action, claim or liability covered by this indemnification and provide full information with respect thereto.</font><a name="_Toc216010539"></a>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 9.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;text-transform:uppercase;font-size:11pt;text-decoration:underline;color:#000000;">Indemnification of SMS</font><font style="display:inline;text-transform:uppercase;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen shall defend, indemnify and hold harmless SMS and its Affiliates, and their respective directors, officers, employees, agents and counsel,</font><font style="display:inline;font-size:11pt;color:#000000;"> Luiann Greer and A. Lee Dellon,</font><font style="display:inline;font-size:11pt;color:#000000;"> and the successors and assigns of the foregoing (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">SMS Indemnitees</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;), from and against any and all liabilities, damages, losses, costs or expenses (including reasonable attorneys&#x2019; and professional fees and other expenses of litigation and/or arbitration) incurred in connection with a claim, suit or proceeding brought by a Third Party against a SMS Indemnitee, arising from or occurring as a result of: (a)&nbsp; AxoGen&#x2019;s development, manufacture and commercialization of the Next Generation Product, including all warranties and service costs for the Next Generation Product, or (b) AxoGen&#x2019;s material breach of any representation or warranty set forth in this Agreement, except, in each case, to the extent caused by the negligence or willful misconduct of a SMS Indemnitee</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The SMS Indemnitees shall have the right to the advance of reasonable attorneys&#x2019; fees and expenses in </font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">9</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;color:#000000;">connection with defending against any Third party claim, suit or proceeding arising from or in connection with the Development Activities or Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en&#x2019;s negligence, misconduct or fraud.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 9.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Procedure</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;An SMS Indemnitee that intends to claim indemnification under this Article 9 shall promptly notify Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en in writing of any loss, claim, damage, liability or action in respect of which the SMS Indemnitee or any of its Affiliates, sublicensees or their directors, officers, employees, agents or counsel intend to claim such indemnification, and Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en shall have the right to participate in, and, to the extent Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en so desires, to assume the defense thereof with counsel</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">of its own choice, subject to SMS Indemnitee&#x2019;s approval of such counsel, which approval may not be unreasonably withheld.&nbsp;&nbsp;The indemnity agreement in this Article 9 shall not apply to amounts paid in settlement of any loss, claim, damage, liability or action if such settlement is made without the consent of Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en, which consent shall not be withheld unreasonably.&nbsp;&nbsp;The failure to deliver written notice to Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en within a reasonable time after the commencement of any such action, if materially prejudicial to its ability to defend such action, shall relieve Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en of any liability to the SMS Indemnitee under this Article 9.&nbsp;&nbsp;At Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en&#x2019;s request, the SMS Indemnitee under this Article 9, and its employees and agents, shall cooperate fully with Axo</font><font style="display:inline;font-size:11pt;color:#000000;">G</font><font style="display:inline;font-size:11pt;color:#000000;">en and its legal representatives in the investigation and defense of any action, claim or liability covered by this indemnification and provide full information with respect thereto.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Limitation of Liability</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">EXCEPT FOR A PARTY&#x2019;S INDEMNIFICATION OBLIGATIONS, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT OR PUNITIVE DAMAGES, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST REVENUES, ARISING OUT OF THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY,</font><font style="display:inline;text-transform:uppercase;font-size:11pt;color:#000000;"> even if SUCH PARTY has been advised of the possibility of such damages.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;text-transform:uppercase;font-size:11pt;color:#000000;">AXOGEN SHALL NOT BE LIABLE TO SMS OR ANY THIRD PARTY FOR ANY DAMAGES ARISING OUT OF the DEVELOPMENT, MANUFACTURE OR COMMERCIALIZATION OF THE EXISTING PRODUCT BY SMS, ITS AFFILIATES, SUBLICENSEES OR ANY THIRD PARTY.</font></p></td></tr></table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010540"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article X.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">TERM AND TERMINATION</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010541"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Term.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">This Agreement shall commence on the Effective Date and shall continue in full force and effect until terminated pursuant to this Article 10</font><font style="display:inline;font-size:11pt;color:#000000;">, provided, however, this Agreement will expire at the end of the Option Term if AxoGen has not exercised the Option and if the Option is exercised it will terminate 10 years from the date of such Option exercise</font><font style="display:inline;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010542"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Termination for Material Breach</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Either Party shall have the right to terminate this Agreement in the event the other Party has materially breached or defaulted in the performance of any of its obligations hereunder, and if such breach or default is not corrected within sixty (60) days after the breaching Party receives written notice identifying such breach.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010543"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Termination for Insolvency; Retention of License</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;If voluntary or involuntary proceedings by or against a Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such Party, or proceedings are instituted by or against such Party for corporate reorganization or the dissolution of such Party, which proceedings, if involuntary, shall not have been dismissed within ninety (90) days after the date of filing, or if such Party makes an assignment for the benefit of creditors, or substantially all of the assets of such Party are seized or attached and not released within ninety (90) days thereafter, the other Party may immediately terminate this Agreement effective upon notice of such termination.&nbsp;&nbsp;Notwithstanding the bankruptcy of a Party, or the impairment of performance by a Party of its obligations under this Agreement as a result of bankruptcy or insolvency of such Party, and subject to such other Party&#x2019;s rights to terminate this Agreement for reasons other than bankruptcy or insolvency as expressly provided in this Agreement, the other Party shall be entitled to retain the licenses under the terms and conditions granted herein.</font><a name="_Toc216010544"></a>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Termination by AxoGen.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Prior to exercise of the Option, if any, </font><font style="display:inline;font-size:11pt;color:#000000;">AxoGen shall have the right to terminate this Agreement in its sole discretion in its entirety by providing thirty (30) days written notice thereof of the termination of this Agreement (the &#x201C;</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Notice Period</font><font style="display:inline;font-size:11pt;color:#000000;">&#x201D;).</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010545"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.05</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">General Effect of Termination</font><font style="display:inline;font-size:11pt;color:#000000;">.</font><a name="_Toc216010546"></a>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Accrued Obligations</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Termination of this Agreement for any reason shall not release any Party hereto from any liability which, at the time of such termination, has already accrued to the other Party or which is attributable to a </font><font style="display:inline;font-size:11pt;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">10</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td align="left" valign="top"><p style="margin:6pt 0pt 6pt 36pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;;"><font style="display:inline;font-size:11pt;color:#000000;">period prior to such termination, nor preclude either Party from pursuing any rights and remedies it may have hereunder or at law or in equity which accrued or are based upon any event occurring prior to such termination; provided, that AxoGen shall not be obligated to pay any amounts that may become due following delivery of notice of termination.&nbsp; </font><a name="_Toc216010547"></a></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Return of Materials</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Upon any termination of this Agreement, each Party shall promptly return to the other Party all materials and tangible Confidential</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Information received from the other Party (except one copy of which may be retained by legal counsel for archival purposes).&nbsp; </font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010550"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.06</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Bankruptcy Provisions</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;All rights and distribution rights granted under or pursuant to this Agreement by SMS to AxoGen are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to &#x201C;intellectual property&#x201D; as defined under Section 101(52) of the U.S. Bankruptcy Code.&nbsp;&nbsp;The Parties agree that AxoGen, as licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code or any comparably rights under other applicable bankruptcy law, subject to performance by AxoGen of its preexisting obligations under this Agreement.&nbsp;&nbsp;The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against SMS, AxoGen shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and same, if not already in its possession, shall be promptly delivered to AxoGen (a) upon any commencement of any bankruptcy proceeding upon written request therefore by AxoGen, unless SMS elects to continue to perform all of its obligations under this Agreement, or (b) if not delivered under (a) above, upon the rejection of this Agreement by or on behalf of SMS upon written request therefore by AxoGen, provided, however, that upon SMS&#x2019;s (or its successor&#x2019;s) written notification to AxoGen that it is again willing and able to perform all of its obligations under this Agreement, AxoGen shall promptly return all such tangible materials to SMS, but only to the extent that AxoGen does not require continued access to such materials to enable AxoGen to perform its obligations under this Agreement.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010551"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 10.07</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Survival</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">Articles 7, 8 and 9 and </font><font style="display:inline;font-size:11pt;color:#000000;">Sections </font><font style="display:inline;font-size:11pt;color:#000000;">11.02 and 11.04, </font><font style="display:inline;font-size:11pt;color:#000000;">shall survive the expiration or termination of this Agreement for any reason.&nbsp;&nbsp;In addition, any other provision required to interpret and enforce the Parties&#x2019; rights and obligations under this Agreement shall also survive, but only to the extent required for the observation and performance of the aforementioned surviving portions of this Agreement.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt 0pt;border-bottom:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010552"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Article XI.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"></font>
		</p>
		<p style="margin:0pt 0pt 6pt;border-top:1pt none #D9D9D9 ;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">MISCELLANEOUS</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010554"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.01</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Governing Law; Equitable Relief</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (a)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">This Agreement shall be governed by and interpreted in accordance with the laws of the State of </font><font style="display:inline;font-size:11pt;color:#000000;">Maryland </font><font style="display:inline;font-size:11pt;color:#000000;">without giving effect to any conflict of laws provisions, except matters of intellectual property that will be determined in accordance the intellectual property laws relevant to the intellectual property in question.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
				<font style="margin:6pt 0pt;font-weight:normal;line-height:100%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size:11pt;;"> (b)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;margin:6pt 0pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">No provision herein shall be construed as precluding a Party from bringing an action for injunctive relief or other equitable relief prior to the initiation or completion of the above procedure.&nbsp; </font></p></td></tr></table></div>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010555"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.02</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Waiver</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Neither Party may waive or release any of its rights or interests in this Agreement except in writing.&nbsp;&nbsp;The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition.&nbsp;&nbsp;No waiver by either Party of any condition or term in any one or more instances shall be construed as a further or continuing waiver of such condition or term or of another condition or term</font><font style="display:inline;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010556"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section </font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">11.03</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Assignment</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;This Agreement shall not be assignable by SMS without the written consent of AxoGen.&nbsp;&nbsp;The terms and conditions of this Agreement shall be binding on and inure to the benefit of the permitted successors and assigns of the Parties.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010557"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.04</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Notices</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;Any notices, requests and other communications hereunder shall be in writing and shall be personally delivered or sent by international express delivery service, registered or certified air mail, return receipt requested, postage prepaid, or by facsimile (confirmed by prepaid registered or certified air mail letter or by international express delivery mail) (e.g., FedEx)), and shall be deemed to have been properly served to the addressee upon receipt of such written communication, to the following addresses of the Parties, or such other address as may be specified in writing to the other Parties hereto:</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 50.00%;margin-left:0pt;"></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">11</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 50.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:35.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<a name="_Toc216010558"></a><font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:65.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">if to AxoGen:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">AxoGen Corporation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">13631 Progress Blvd.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Suite 400</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Alachua, FL 32615</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Attention: Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Fax: 386-462-6803&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">if to SMS:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Sensory Management Services LLC</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">10 Luce Del Sol</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Unit 3</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Henderson, Nevada 89011</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Attention: Lee Dellon</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">And</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">1122 Kennilworth Drive</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Suite 18</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Towson, Maryland 21204</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Attention: Lee Dellon</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:35.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:65.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Attention:</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">Lee Dellon</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:35.00%;height:9.90pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:65.00%;height:9.90pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Fax: 410-337-0040</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 6pt;line-height:100%;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.05</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Force Majeure</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Neither Party shall be liable to the other for failure or delay in the performance of any of its obligations under this Agreement for the time and to the extent such failure or delay is caused by earthquake, riot, civil commotion, terrorism, war, hostilities between nations, governmental law, order or regulation, embargo, action by the government or any agency thereof, act of God, storm, fire, accident, labor dispute or strike, sabotage, explosion or other similar or different contingencies, in each case, beyond the reasonable control of the respective Party.&nbsp;&nbsp;The Party affected by force majeure shall provide the other Party with full particulars thereof as soon as it becomes aware of the same (including its best estimate of the likely extent and duration of the interference with its activities), and will use its best endeavors to overcome the difficulties created thereby and to resume performance of its obligations as soon as practicable.&nbsp;&nbsp;If the performance of any obligation under this Agreement is delayed owing to a force majeure for any continuous period of more than six (6) months, the Parties hereto shall consult with respect to an equitable solution including the possible termination of this Agreement.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010559"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.06</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Independent Contractors</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Nothing contained in this Agreement is intended implicitly, or is to be construed, to constitute AxoGen or SMS as partners or joint venturers in the legal sense.&nbsp;&nbsp;No Party hereto shall have any express or implied right or authority to assume or create any obligations on behalf of or in the name of any other Party or to bind any other Party to any contract, agreement or undertaking with any Third</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">Party.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010560"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.07</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Severability</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;If any of the terms or provisions of this Agreement are in conflict with any applicable statute or rule of law, then such terms or provisions shall be deemed inoperative to the extent that they may conflict therewith and shall be deemed to be modified to conform with such statute or rule of law.&nbsp;&nbsp;In the event that the terms and conditions of this Agreement are materially altered as a result of the above, the Parties will renegotiate the terms and conditions of this Agreement to resolve any inequities</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010561"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.08</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Further Assurances</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;At any time or from time to time on and after the date of this Agreement, either Party shall at the request of the other Party (i)&nbsp;deliver to the requesting Party such records, data or other documents consistent with the provisions of this Agreement, (ii)&nbsp;execute, and deliver or cause to be delivered, all such consents, documents or further instruments of assignment, transfer or license, and (iii)&nbsp;take or cause to be taken all such actions, as the requesting Party may reasonably deem necessary or desirable in order for the requesting Party to obtain the full benefits of this Agreement and the transactions contemplated hereby.</font>
		</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">12</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.09</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Entire Agreement</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;This Agreement constitutes the entire agreement, both written and oral, with respect to the subject matter hereof, and supersedes and terminates all prior or contemporaneous understandings or agreements, whether written or oral, between AxoGen and SMS with respect to such subject matter.</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;"> &nbsp; </font><font style="display:inline;font-size:11pt;color:#000000;">No terms or provisions of this Agreement shall be varied or modified by any prior or subsequent statement, conduct or act of either of the Parties, except that the Parties may amend this Agreement by written instruments specifically referring to and executed by authorized representatives of each Party in the same manner as this Agreement.&nbsp; </font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010562"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.10</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Headings</font><font style="display:inline;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The captions to the Articles and Sections hereof are not a part of this Agreement, but are included merely for convenience of reference only and shall not affect its meaning or interpretation.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<a name="_Toc216010563"></a><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">Section 11.11</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;color:#000000;">Counterparts</font><font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp;This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">Section 11.12</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Venue.</font><font style="display:inline;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Any dispute arising under or in connection with the agreement or related to any matter which is the subject of the agreement </font><font style="display:inline;color:#000000;">shall be subject to the</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">exclusive jurisdiction </font><font style="display:inline;color:#000000;">of the state and/or federal courts located in Baltimore, Maryland.</font><font style="display:inline;text-decoration:underline;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;color:#000000;">Section 11.1</font><font style="display:inline;font-weight:bold;color:#000000;">3</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Arbitration.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association </font><font style="display:inline;color:#000000;">in the State of Maryland and City of Baltimore </font><font style="display:inline;color:#000000;">in accordance with its Commercial </font><font style="display:inline;color:#000000;">or other</font><font style="display:inline;color:#000000;"> Arbitration Rules, and judgment on the award rendered by the arbitrator[s] may be entered in any cour</font><font style="display:inline;color:#000000;">t having jurisdiction thereof.</font>
		</p>
		<p style="margin:6pt 0pt;line-height:100%;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;color:#000000;"></font><font style="display:inline;font-weight:bold;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;color:#000000;">Section 11.14</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Assignment</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">.</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">This Agreement</font><font style="display:inline;color:#000000;"> or the right to receive royalties hereunder</font><font style="display:inline;color:#000000;"> may be assigned by </font><font style="display:inline;color:#000000;">SMS</font><font style="display:inline;color:#000000;"> without the consent of </font><font style="display:inline;color:#000000;">AxoG</font><font style="display:inline;color:#000000;">en</font><font style="display:inline;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp;AxoGen may assign this Agreement without consent in the even</font><font style="display:inline;color:#000000;">t of a merger or acquisition of the Company, sale of substantially all of the Company&#x2019;s assets or a change of greater than 50% of the ownership of the Company or its parent Company AxoGen Inc.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;"></font>
		</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">13</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p style="margin:6pt 0pt;line-height:100%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;color:#000000;">IN WITNESS WHEREOF</font><font style="display:inline;font-size:11pt;color:#000000;">, the Parties hereto have caused this Development, License and Option Agreement to be duly executed by their authorized representatives effective as of Effective Date.</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:10.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:13.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="width:61.66%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Sensory Management Services LLC </font></p>
				</td>
				<td colspan="2" valign="top" style="width:38.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">AxoGen Corporation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">By: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-size:11pt;">/s/ A Lee Dellon</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">By: </font></p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">/s/Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Name: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">A Lee Dellon</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Name: </font></p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Karen Zaderej </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;height:19.35pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Title: </font></p>
				</td>
				<td valign="top" style="width:50.82%;height:19.35pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">President</font></p>
				</td>
				<td valign="top" style="width:13.34%;height:19.35pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Title: </font></p>
				</td>
				<td valign="top" style="width:25.00%;height:19.35pt;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">CEO</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Date: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">11/5/14</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Date: </font></p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">11/3/2014</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">By: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">/s/Luiann O. Greer</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Name: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Luiann O. Greer</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Title: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">CEO</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:10.84%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Date: </font></p>
				</td>
				<td valign="top" style="width:50.82%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">11/5/14</font></p>
				</td>
				<td valign="top" style="width:13.34%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:25.00%;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">14</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">EXHIBIT A</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">ASSETS</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Regulatory Approvals (including filings</font><font style="display:inline;font-size:11pt;"> and changes since filings</font><font style="display:inline;font-size:11pt;">)</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">2.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Design history files</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">3.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Quality systems</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">4.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Customer files</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Product molds</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">6.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">CAD drawings</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-size:11pt;">7.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Existing inventory of the Existing Produc</font><font style="display:inline;font-size:11pt;">t</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:154pt;"><font style="display:inline;font-size:11pt;">8.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Customer Lists</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">15</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">EXHIBIT B</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">EXISTING PRODUCT</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">(From: </font><font style="display:inline;">SMS Assets List </font><font style="display:inline;">June 2013</font><font style="display:inline;">)</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Copyright to Instructional Manuals</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Seiler D, Barrett SL, Dellon AL: </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Interpretation Guide to Neurosensory and Motor Testing </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Sensory Management Services, LLC, publisher</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Baltimore, MD, 2002.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">2.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Seiler, D, Motwani, L, Dellon, AL, </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Interpretation Guide to Neurosensory and M</font><font style="display:inline;">otor Testing: The PDA Platform</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Sensory Management Services, LLC, publisher, Nevada, 2007.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">3.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Seiler, D, Motwani, L, Dellon, AL, </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Interpretation Guide to Neurosensory and Motor Testing: The Touch-Screen Platform, </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Sensory Management Services, LLC, publisher, Nevada, 2013.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> Copyright to Instructional Video</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Dellon, A.L., Computer-Assisted Sensorimotor Testing, 1995.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Artwork</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">The Pressure-Specified Sensory:&nbsp;&nbsp;Framed Schematic</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Trademark</font><font style="display:inline;">s</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Pressure-Specified Sensory Device&#x2122;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">2.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Disk-Criminator&#x2122;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Neurosensory Testing Algorithm</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">16</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display:inline;"><img src="axgn20150930ex102f235f2001.jpg" style="width: 3.223932in; height: 2.417948in" alt="Picture 5"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Administrative Law Judge Proceedings:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Medicare</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">copies of medicare procedings, ALJ DECISIONS, ETC&nbsp;&nbsp;related to the PSSD, AND THE SURGERY</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Neurosensory </font><font style="display:inline;">Testing Lecture </font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Powerpoint, </font><font style="display:inline;">(</font><font style="display:inline;">153 MB)</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display:inline;"><img src="axgn20150930ex102f235f2002.jpg" style="width: 3.123076in; height: 2.342308in" alt="Picture 6"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">Collection of PSSD Reprints</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">Binder with </font><font style="display:inline;">180</font><font style="display:inline;"> different reprints related to the PSSD</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">

			<font style="display:inline;font-size:11pt;">17</font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;"></font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">EXHIBIT </font><font style="display:inline;font-weight:bold;font-size:11pt;">C</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">PATENT RIGHTS</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 14pt;">
			<font style="display:inline;font-size:14pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Disk-Criminator</font><font style="display:inline;color:#000000;font-size:6pt;top:-4pt;position:relative;line-height:100%">tm</font><font style="display:inline;color:#000000;">, Canadian Patent #1,282,660, 1991;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Mackinnon, S.E., and Dellon, A.L., </font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Registration Numbers:&nbsp;&nbsp;Canadian TMA336,211; United States 1,511,664</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">2.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Pressure Specifying Sensory Device, Patent #5,027,828, 1991;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Dellon, A.L. and Kovacevic, N.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">3.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Digit-Grip, Patent #5, 317, 916, 1992;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Dellon, A.L., Kovacevic, N.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Sensory Management Services, LLC</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">4.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Force-Defined Vibrometer, Patent pending, 1991;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Dellon, A.L. and Kovacevic, N.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Skin Compliance Device, Patent #5, 373, 730, 1992;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Dellon, A.L. and Kovacevic, N.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:-18pt; padding-right:44pt;"><font style="display:inline;color:#000000;">6.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Breast Compliance Device, Patent #346, 124, 1993;</font></font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">Dellon, A.L., Kovacevic, N</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">Patent Applications:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">11/643,281</font><font style="display:inline;">&nbsp;</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;">System and method for managing neurosensory test</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">information.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">2.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">11/643,398</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Apparatus and method for testing of neurosensory</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">sensitivity.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">3.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">11/643,205</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Apparatus and method for testing of neurosensory</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">response.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 36pt;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">4.</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">29/270,609</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display:inline;"></font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Portable Medical Device.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>

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		</p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>axgn-20150930ex1034b785d.htm
<DESCRIPTION>EX-10.3
<TEXT>
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			axgn_Ex10_3
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	<body><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXIBIT 10.3</font>
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		<p style="margin:6pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
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		<p style="margin:6pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">LICENSE </font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">AND SERVICES </font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">AGREEMENT</font>
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		<p style="margin:6pt 0.25pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">This License</font><font style="display:inline;font-size:11pt;"> and Services</font><font style="display:inline;font-size:11pt;"> Agreement (the &#x201C;</font><font style="display:inline;font-size:11pt;text-decoration:underline;">Agreement</font><font style="display:inline;font-size:11pt;">&#x201D;) is made as of the </font><font style="display:inline;font-size:11pt;">6th</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">day of </font><font style="display:inline;font-size:11pt;">August</font><font style="display:inline;font-size:11pt;">, 2015</font><font style="display:inline;font-size:11pt;"> (&#x201C;</font><font style="display:inline;font-size:11pt;text-decoration:underline;">Effective Date</font><font style="display:inline;font-size:11pt;">&#x201D;)</font><font style="display:inline;font-size:11pt;">, &nbsp;</font><font style="display:inline;font-size:11pt;">by and </font><font style="display:inline;font-size:11pt;">between </font><font style="display:inline;font-size:11pt;">Community Blood Center (d/b/a Community Tissue Services)</font><font style="display:inline;font-size:11pt;">, a</font><font style="display:inline;font-size:11pt;">n</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">Ohio Corporation</font><font style="display:inline;font-size:11pt;">, as Licensor (the &#x201C;</font><font style="display:inline;font-size:11pt;text-decoration:underline;">Licensor</font><font style="display:inline;font-size:11pt;">&#x201D;), and </font><font style="display:inline;font-size:11pt;">AxoGen Corporation</font><font style="display:inline;font-size:11pt;">, a Delaware Corporation as Licensee (the &#x201C;</font><font style="display:inline;font-size:11pt;text-decoration:underline;">Licensee</font><font style="display:inline;font-size:11pt;">&#x201D;).</font>
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		<p style="margin:6pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">WITNESSETH:</font>
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		<p style="margin:6pt 0pt 6pt 40.55pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">WHEREAS:</font>
		</p>
		<p style="margin:6pt 0.25pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">1.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensor owns</font><font style="display:inline;font-size:11pt;"> the real property in that certain building located at </font><font style="display:inline;font-size:11pt;">349 South Main Street, Dayton, Ohio 45402</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">(the &#x201C;</font><font style="display:inline;font-size:11pt;text-decoration:underline;">Premises</font><font style="display:inline;font-size:11pt;">&#x201D;);</font><font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:6pt 0pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">2.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensor currently occupies all or a portion of the Premises;</font>
		</p>
		<p style="margin:6pt 0pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">3.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensor desires to license to Licensee, and Licensee desires to license and </font><font style="display:inline;font-size:11pt;">use, a portion of the Premises designated for the purpose of conducting </font><font style="display:inline;font-size:11pt;">tissue processing</font><font style="display:inline;font-size:11pt;">, other laboratory related activities, business</font><font style="display:inline;font-size:11pt;"> activity related thereto,</font><font style="display:inline;font-size:11pt;"> storage,</font><font style="display:inline;font-size:11pt;"> shipping and receiving of products and materials</font><font style="display:inline;font-size:11pt;"> and related activities</font><font style="display:inline;font-size:11pt;">. The configuration of the Premises is shown on </font><font style="display:inline;font-size:11pt;text-decoration:underline;">Exhibit A</font><font style="display:inline;font-size:11pt;">, attached hereto and made a part hereof by reference; </font>
		</p>
		<p style="margin:6pt 0pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">4.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensor desires to conduct support services for Licensee and Licensee desires to have Licensor conduct such support services; </font>
		</p>
		<p style="margin:6pt 0pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">5.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensee desires for Licensor to become Licensee&#x2019;s next nerve recovery </font><font style="display:inline;font-size:11pt;">agency</font><font style="display:inline;font-size:11pt;">; &nbsp;</font><font style="display:inline;font-size:11pt;">and</font>
		</p>
		<p style="margin:6pt 0.25pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">6.</font><font style="display:inline;font-weight:bold;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">Licensor and Licensee are willing to enter into such license </font><font style="display:inline;font-size:11pt;">and</font><font style="display:inline;font-size:11pt;">,</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">engage Licensor to perform such support services</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">under the terms, covenants and conditions set forth herein.</font>
		</p>
		<p style="margin:6pt 0pt 6pt 4.55pt;background-color: #FFFFFF;text-indent:36pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">NOW, THEREFORE</font><font style="display:inline;font-size:11pt;">, in consideration of the mutual covenants contained herein the </font><font style="display:inline;font-size:11pt;">parties, intending to be legally bound, hereby </font><font style="display:inline;font-size:11pt;">agree as follows:</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article I.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">DEFINITIONS</font>
		</p>
		<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 1.01</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The following terms used herein shall have the meaning set forth in the corresponding section set forth in the table below: </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 50.36%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;width:66.26%;background-color: #BFBFBF;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Defined Term</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;width:33.74%;background-color: #BFBFBF;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Section</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Agreement</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Preamble</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Clean Room(s)</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Common Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Confidential Information</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">9.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Dedicated Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Deposit</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">7.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Effective Date</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Preamble</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Equipment</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.03</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Executive Officers</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">13.05</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Fees</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">7.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensed Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">License</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensee</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Preamble</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:66.26%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">License Fee</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:33.74%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">7.01</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			&nbsp;
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 50.58%;margin-left:0pt;"></table></div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 50.58%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:66.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:33.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Preamble</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor&#x2019;s FF&amp;E</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">4.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor Claimed Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.03</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Losses</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">11.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Occupancy Date</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">6.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Office Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Option </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.03</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Option Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.03</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Premises</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Recitals</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Processing</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Product</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Project Intellectual Property</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">8.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Regulatory Approval</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">6.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Reserved Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.03</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">SOPs</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.04</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Support Services </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">4.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Support Services Fee</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">7.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Term</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">12.01</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Third Party Claims</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">11.02</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:66.54%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Warehouse Space</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:33.46%;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.01</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article II.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Grant of License</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 2.01</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Grant of License</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor does hereby grant to Licensee upon the terms and conditions of this Agreement a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">n irrevocable</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> license (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">License</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, except as otherwise expressly set forth herein,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> to occupy exclusively </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">two (2) clean rooms (each a &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Clean Room</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; and collectively, the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Clean Rooms</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;), </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">two</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">2</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">) offices</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">/work areas</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Office Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">storage space (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Warehouse Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">specifically identified in Exhibit A </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(collectively, the Clean Rooms, Office Space and Warehouse Space, referred to herein as the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Dedicated Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;), together with a non-exclusive right in common with the Licensor </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">and Licensor&#x2019;s invitees and other licensees </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">at the Premises to access and use the main lobby, necessary hallways, shared rest rooms, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">shared </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">parking areas</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and the</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">conference room</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">adjacent to the Clean Rooms </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(which conference room </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">will be shared space but when not required by Licensor </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or its invitees or licensees may be used by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x2019;s</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> employees to use as additional work space)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">shared </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">copier/scanner room, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">elevators, stairs and ingress and egress points (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Common </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;, and collectively with the Dedicated Space, the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 2.02</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor Equipment</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">foregoing License </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">grant contained in this Agreement provides Licensee with</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">he </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">exclusive use of the Licensor&#x2019;s equipment, furniture and other property located in the Dedicated Space and, subject to the SOPs, non-exclusive use of the equipment, furniture and other property </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">located in the Common Space, each as described on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule I</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> attached hereto.</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 2.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Option</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;During the Term, Licensor hereby grants to Licensee the exclusive first right and option </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(even to Licensor) (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Option</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">add</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to the Licensed Space </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">additional clean rooms, office space and warehouse space at the Premises on the same floor </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">as</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (such rooms and space are specifically identified in Exhibit A</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the portion thereof that </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">at </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">any time has not been added to the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or has become Licensor Claimed Space as provided below,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> is referred to as the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Option Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The Option is not limited to a single exercise, but may be exercised multiple times during the Term, subject to the restrictions provided in this Section 2.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(a)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">In the event Licensor at any time during </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Term desires to use </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">any of</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">the Option Space excluding the Reserved Space, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">directly or indirectly, Licensor will notify Licensee which notice shall contain a description of the scope and intended use.&nbsp;&nbsp;Licensee will have thirty (30) days from receipt of </font>
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			<font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

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</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensor&#x2019;s notice to exercise the Option for such rooms and space as described in Licensor&#x2019;s notice </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor Claimed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&#x201D;) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">by providing written notice of exercise to Licensor.&nbsp;&nbsp;If Licensee exercises the Option </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">under the circumstances described in this Section 2.03(a), </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">i</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">must be for all</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> of the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensor Claimed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;If Licensee fails to so </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">timely </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">exercise the Option, then the Option will lapse relative to the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensor Claimed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> as long as</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">use of the rooms and space as described in Licensor&#x2019;s notice </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">commences </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">within ninety (90) days after Licensor&#x2019;s notice.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Notwithstanding the foregoing, Licensor will not provide</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> a notice to Licensee under this provision within the first 18 months of this Agreement.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;text-decoration:underline;color:#000000;">Reserved Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&#x201D; will mean at any time that Licensor desires to use any of the Option Space, such number of clean rooms then existing within the Option Space as required to provide additional square footage of clean room space equal to fifty percent (50%) of the aggregate clean room space then included in the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> up to a maximum of all clean rooms remaining in the Option Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> (i.e., there shall not be any obligation </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">for Licensor </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">to create any more clean rooms).</font>
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		<p style="margin:6pt 0pt 0pt 72pt;text-indent: -18pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(b)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If Licensee exercises the Option, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">he</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> fees associated with such additional space are set forth on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule II</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">.&nbsp; </font>
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		<p style="margin:6pt 0pt 0pt 72pt;text-indent: -18pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(c)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If Licensee exercises the Option at any time </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensor shall provide to Licensee such additional space within </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">90</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> days of Licensee&#x2019;s written exercise.&nbsp;&nbsp;Upon exercise of such Option, such additional space shall be included in the definition of &#x201C;Licensed Space&#x201D; and shall be subject to the terms and conditions set forth in this Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:italic;font-size:11pt;color:#000000;">,&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">provided, however, that upon 30 days&#x2019; notice Licensee may terminate its use of this additional space, such termination having no effect on any other terms of this Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">.</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(d)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">The parties will meet within 30 days prior to 18 months from the date of this Agreement, and every 6 months thereafter, to discuss the space needs of the parties for the next 6 months with respect to the space described in Exhibit A.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 2.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">SOPs</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The Licensee hereby agrees to make commercially reasonable efforts to comply with, the SOPs as from time to time in effect with respect to the Premises</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, including the SOPs for cleaning procedures for the Clean Rooms</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. The initial SOPs are listed on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Exhibit B</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and copies thereof have been made available to Licensee or will be provided to Licensee during orientation. The Standard Operating Procedures for the Premises </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">applicable to Licensee, as revised and amended from time to time by Licensor, in Licensor&#x2019;s sole </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">discretion, are referred to herein as, the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">SOPs</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">No</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> revision or amendment to the initial SOPs by Licensor </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">that </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">would have a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">n</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> adverse impact on Licensee&#x2019;s use of the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall be made by Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> except and only to the extent any such revision or amendment is required by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">applicable laws, regulations </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> ordinances or</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> the permit</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">s, orders or requirements of any</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> government authorities in connection with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">use of the Licensed Space, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">performance of the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Support Services or</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Processing of the Product</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
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			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article III.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">USE OF </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">LICENSED SPACE</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 3.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Use of Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Licensee shall use the Licensed Space for the purpose of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">conducting tissue processing </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Processing</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">of Licensee&#x2019;s Avance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;font-size:6pt;top:-4pt;position:relative;line-height:100%">&#xAE;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Nerve Graft</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and such other human tissue products as Licensee may have in the future</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Product</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, other laboratory related activities, business </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">activity related thereto, storage, shipping and receiving of products and materials</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and related </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">activities.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;The parties agree to discuss in good faith potential collaborations between the parties, including Licensor Processing the Product on behalf of Licensee two (2) years after the Effective Date.</font>
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		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 3.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Access</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. Except in the case of emergencies, Licensee and its employees shall have access to the Dedicated Space and to Common Space twenty-four (24) hours per day and seven (7) days per week.&nbsp;&nbsp;Licensee&#x2019;s agents, invitees or guests may enter the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensed Space in accordance with access and security procedures as set forth in applicable SOPs provided in writing to Licensee by Licensor.</font>
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		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

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</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 3.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Equipment</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Licensee may install </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in the Dedicated Space </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">at </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee&#x2019;s</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> own cost and expense equipment necessary for the Processing, including cold storage freezers and refrigerators (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Equipment</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;).&nbsp;&nbsp;All such Equipment shall be the sole property of Licensee, and Licensee shall be responsible for the calibration and preventive maintenance of such Equipment.&nbsp;&nbsp;Upon Licensee&#x2019;s reasonable request, Licensor shall assist Licensee in (a) making any UCC or other filings necessary to secure and evidence Licensee&#x2019;s ownership in such Equipment, and (b) delivery or removal of such Equipment from the Premises.&nbsp;&nbsp; </font>
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		<p style="margin:8pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article IV.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">SUPPORT SERVICES</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Support Services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Licensor shall provide the following support services (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Support Services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) to Licensee during the Term:&nbsp;&nbsp;(a) routine sterilization of daily supplies (by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">validated </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">sterilization process set forth in SOPs) and disposable supplies, including, but not limited to, sterile gowns, sleeves, gloves, table covers and required cleaning supplies to meet Licensee&#x2019;s Processing schedule provided in writing by Licensee to Licensor, (b) dry ice </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in amounts </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">sufficient </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">for Licensee </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to ship Product</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (which cost of such dry ice shall be reimbursable by Licensee pursuant to Section </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">7.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">), (c) microbial services, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">consisting of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">culture plates, lab testing, monitoring and reporting in agreed upon formats and frequency by the parties, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(d) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">access to a shared </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">business capable copier and scanner; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(e</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">) internet access via a public wireless network (provided that Licensee shall be responsible for data security and IT support in connection with such wireless network for Licensee&#x2019;s employees)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">(f) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">those Standard License Services as provided in Schedule IV</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;The cost of such Support Services is set forth as the Support Services Fee on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule II</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">provided that such cost was based on Licensee&#x2019;s current methodologies and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Processing of the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Avance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;font-size:6pt;top:-4pt;position:relative;line-height:100%">&#xAE;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Nerve Graft</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> only</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">If</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> there are material changes to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">such methodologies by Licensee or if additional products are processed</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> by Licensee during the Term</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> parties will negotiate in good faith an amendment to this Agreement to adjust the pricing appropriately</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
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		<p style="margin:8pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor&#x2019;s FF&amp;E</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">All personal property, including furniture and equipment installed </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in or located in the Licensed Space prior to Licensee&#x2019;s use of the Licensed Space is the property </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">of Licensor and is described on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule I</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> attached hereto (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor&#x2019;s FF&amp;E</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;). </font>
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		<p style="margin:8pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Training</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee (and its</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">employees and any of its consultants or contractors needed for any of Licensee&#x2019;s activities on the Premises) will participate in certain training modules as stated in the SOPs. Such required training modules may include (i) training before occupying and using Licensed Space; (ii) updated training as applicable; and (iii) training as procedures change and periodic refresher training including as to life safety matters as Licensor may direct from time to time. Training shall be provided by Licensor at its sole cost and expense.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Licensee employee discipline shall be the responsibility of the Licensee and Licensor shall direct any complaints with respect to a Licensee employee to the attention of Licensee&#x2019;s </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Director of Operations</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Utilities</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor shall provide continuous monitoring of environmental conditions (temperature and pressure as appropriate</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> for</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and Equipment</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> twenty-four hours a day/seven days a week.&nbsp;&nbsp;Licensor shall provide services to back-up electrical equipment to allow for Processing and storage, at the necessary temperatures, to continue in the event of a power outage, including back-up power for the Equipment and any other ancillary equipment, including but not limited to, incubators, hoods, freezers and Clean Rooms at the Licensed Space.&nbsp; </font>
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		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.05</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Security</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Licensor </font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">shall</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> provide security</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">at the Premises and with respect to the Licensed Space.</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Licensee</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">shall comply with all security procedures and requirements including all applicable SOPs related </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">security </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">identified in </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Exhibit B</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
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		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.06</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Parking</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee and its employees will park in the areas on the Premises so designated from time to time by Licensor as the parking areas for Licensee. Such parking areas will be non-exclusive. Licensee&#x2019;s guests and invitees shall park </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in the parking areas on the Premises so designated from time to time by Licensor as the parking </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">areas for visitors.</font>
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			<font style="display:inline;"></font>
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		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

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</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 4.07</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Other Licensee Operations, Activities and Requirements</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;&nbsp;Except</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and only to the extent of the Support Services expressly provided for in this Agreement, Licensor shall not have any obligations or otherwise be responsible or liable for any other operations, activities or requirements of Licensee </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or any services in support of the same, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">whether arising out of the Processing or other activity at the License</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">d</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Space or otherwise, including equipment, supplies, services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and facilities.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font>
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		<p style="margin:12pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article V.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">RENOVATIONS; </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">REPAIRS AND MAINTENANCE</font>
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		<p style="margin:12pt 0pt 3pt;background-color: #FFFFFF;line-height:13.7pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 5.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Renovations</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Prior to the Occupancy Date, Licensor shall renovate the Licensed Space to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the agreed </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">specifications </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">set forth in </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule III</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">with the renovation of the Clean Rooms to meet at least the requirements set forth by the International Organization for Standardization in ISO 7 in accordance with ISO 14644 standards.&nbsp;&nbsp;On the Occupancy Date, Licensee shall reimburse Licensor one-third (1/3) of such costs, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">provided that Licensee&#x2019;s reimbursement shall </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">not exceed $</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">166,666</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, for such renovations.&nbsp;&nbsp;&nbsp;&nbsp;Other than as agreed upon by the parties or as contemplated herein, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee shall not make any changes, additions, improvements, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">alterations or other physical changes </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to the Licensed Space. </font>
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		<p style="margin:12pt 0pt 3pt;background-color: #FFFFFF;line-height:13.7pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 5.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Routine Repairs and Maintenance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor, at its cost, shall provide routine maintenance and repairs </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to the Premises and Dedicated Space. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee shall inform Licensor if Licensor&#x2019;s FF&amp;E in the Dedicated Space requires maintenance or repair in order to keep the same in good order and repair</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and Licensor shall maintain and repair </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor&#x2019;s FF&amp;E. </font>
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		<p style="margin:12pt 0pt 3pt;background-color: #FFFFFF;line-height:13.7pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 5.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor Access to Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Licensor and its employees, contractors and agents shall have the right, on no less than twenty-four (24) hours&#x2019; prior notice to Licensee (except in the case of an </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">emergency in which event Licensor shall have the immediate right without notice), from time to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">time throughout the Term, to enter any portion of the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Dedicated</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Space during business </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">hours to examine the same, to show the same to prospective purchasers, mortgagees, licensees or </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">tenants and to make such repairs, alterations, improvements or additions to the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Dedicated</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Space or any other portion of the Premises; provided that (except in the event of an emergency) such access shall be subject to reasonable limitations </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">imposed by Licensee related to proprietary and confidential information of the Licensee and any </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">work performed or inspections or installations made by Licensor shall be using reasonable efforts to minimize disruption to the business and operations of Licensee. </font>
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		<p style="margin:8pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article VI.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">REGULATORY</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 6.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Certification</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">of Clean Rooms</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;No later than October 15, 2015, the Licensor shall obtain </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">certification that the Clean Rooms including the hallways of the Cleanroom meet a minimum of ISO 7 standards</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">as certified by an </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">independent</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> third party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> so as to allow the first pilot processing to be able to proceed</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;The date of such validation is referred to herein as the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Occupancy Date</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;. </font>
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		<p style="margin:8pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 6.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Regulatory Registrations</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;"> and Approvals</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee shall obtain all Regulatory Approvals necessary for the Processing of the Product.&nbsp;&nbsp;Licensor shall obtain all Regulatory Approvals necessary for the Licensed Space and Support Services.&nbsp; </font><a name="_Toc338872998"></a><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Regulatory Approval</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; means any and all approvals, licenses, registrations, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">accreditations </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or authorizations of the relevant regulatory authority, including all approvals and permits necessary for the Processing, development, manufacture, use, storage, import, or transport of Product</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Regulatory Authorities include international country regulatory agencies, US FDA, US State regulatory agencies and voluntary regulatory agencies such as the American Association of Tissue Banks (AATB) and other similar agencies.</font>
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		<p style="margin:8pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 6.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Inspections and Audits</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Each party shall promptly advise the other party if an authorized agent of a governmental authority </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or AATB </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">visits the Premises</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> for the purpose of performing an audit or inspection</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Each party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">shall supply </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the other</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">with all material information supplied by such Governmental Authority </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or AATB </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in connection with such visit.&nbsp;&nbsp; </font>
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			<font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

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</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 6.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Communications with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Regulatory Authorities</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall be responsible, and act as the sole point of contact, for communications with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">r</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">egulatory </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">uthorities in connection with the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensed Space and Support Services.&nbsp;&nbsp;Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall be responsible, and act as the sole point of contact, for communications with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">r</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">egulatory </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">uthorities in connection with the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Processing </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">of Product.&nbsp;&nbsp;Following the Effective Date, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor shall consult with Licensee prior to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">any meetings or contact with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">r</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">egulatory </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">uthorities</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> related to the Licensed Space or Support Services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;To the extent Licensor receives any written or oral communication from any </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">r</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">egulatory </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">authority relating to Licensed Space of Support Services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, Licensor shall</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">as soon as reasonably practicable (but in any event within twenty-four (24) hours), notify </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and provide </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> with a copy of any written communication received by Licensor or, if applicable, complete accurate minutes of such oral communication.&nbsp;&nbsp;At the request of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">a Party, the other Party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall make available to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the requesting Party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, free of charge, a qualified representative who shall, together with the representatives of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">requesting Party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, participate in and contribute to meetings with the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">regulatory authorities</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> with respect to regulatory matters relating to the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensed Space or Support Services</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 6.05</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Quality Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> The parties shall enter into a quality agreement, which shall include the requirements of each party which requirements shall be in compliance to 21 C.F.R. 1271 and American Association of Tissue Bank (AATB) standards</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Such quality agreement shall be executed by the parties prior to the Occupancy Date.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">To the extent any provision of the Quality Agreement </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">expressly </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">conflicts with any provision of this Agreement, the provisions of the Quality Agreement shall govern.</font>
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			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article VII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">FEE</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">S</font>
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			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 7.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Fee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">s</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee shall pay to Licensor a monthly license fee (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">License Fee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and a </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">monthly </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">support services fee (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Support Services Fee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">as such fees are set forth on the fee schedule on </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule II</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;The License Fee and Support Services Fee are collectively referred to herein as, the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Fees</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;.&nbsp;&nbsp;Payment of such Fees shall commence on the Occupancy Date and continue during the Term in accordance with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule II</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;In the event that the Occupancy Date occurs after the first of the month or termination or </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">expiration occur after the first of the month, the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">License </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Fee for such month shall be pro-rated </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">based on the number of days in such month and the Occupancy Date or date of termination or expiration, respectively.</font><font style="display:inline;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The Licensee Fee shall be paid in advance and the Support Services Fee shall be paid </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> arrears</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">On the Occupancy Date</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Licensee shall also pay an amount equal to $</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">17,334 </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to be held by Licensor as security for Licensee&#x2019;s performance of its obligations under this Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Deposit</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Upon termination of this Agreement for any reason, Licensee shall pay Licensor for all Support Services Fees accruing through the effective date of termination</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, and Licensor shall return the Deposit less any amounts due to Licensor under this Agreement</font><font style="display:inline;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
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		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 7.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Payments</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;All F</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">ee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">s</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall be paid</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> on the first day of each month and paid</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> in lawful money of the United States of America by electronic transfer of funds to the account of Licensor set forth </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">in a written notice from Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or by anot</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">her method approved by Licensor.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;background-color: #FFFFFF;line-height:13.7pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 7.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Out-of-Pocket Expenses</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee shall also pay Licensor for any actual out of pocket</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> costs for the amount of dry ice used by Licensee per month.&nbsp;&nbsp;Licensor shall provide such amount in a monthly invoice to Licensee, and shall be payable by Licensee within thirty (30) days from receipt of such invoice.&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 7.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Taxes</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor shall be responsible for the payment of any and all </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">axes levied on account of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Fees</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> paid to Licensor by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> under this Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article VIII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">INTELLECTUAL PROPERTY</font>
		</p>
		<p style="margin:12pt 0pt 0pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 8.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Project Intellectual Property</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> agrees not to claim any rights, title or ownership in the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Confidential Information or any Project Intellectual Property, and that the rights, title and ownership in </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
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		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:3pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the Confidential Information and Project Intellectual Property shall, as between the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arties, vest in </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> agrees to promptly disclose to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> any Project Intellectual Property. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> agrees to assign, and hereby assigns, to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or its Affiliates throughout the world, the sole and exclusive ownership in all Project Intellectual Property, including all right, title and interest thereto and in any copyright in any work product generated in the performance of the Services. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> hereby waives the whole of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x2019;s moral rights to any copyrights developed under this Agreement or any Statement of Work.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> further agrees not to use any trademark of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, or any other identifier for any advertising, promotion or any other purpose without the prior written consent of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Project Intellectual Property</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; means </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">all intellectual property, whether patentable or not, created, conceived or reduced to practice by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, either alone or in combination with others, in carrying out </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">any s</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">ervices hereunder or otherwise in connection with this Agreement, including inventions, discoveries, modifications, and/or improvements, patents, patent applications, trademarks, trade names, service marks, copyrights, creative works, derivative works, moral rights, trade secrets, proprietary information, rights to use, industrial designs, proprietary materials, including chemical and biological materials, compositions, methods of use, methods of administration, or methods of treatment.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 8.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Assistance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">reasonably</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">cooperate in the preparation, filing, prosecution and maintenance of all patent rights of any Project Intellectual Property.&nbsp;&nbsp;Such cooperation shall include execution of all papers and instruments appropriate so as to enable </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> to prepare, file, prosecute and maintain such rights in any country.</font>
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		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 8.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Work-for Hire</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arties further expressly agree that the aforementioned Services will be considered and deemed as work made for hire for the benefit and exclusive ownership of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> to the fullest extent permitted by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">pplicable </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">l</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">aw; provided, however, that if said work shall not be legally qualified as a work made for hire, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> agrees to assign, and does hereby so assign to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, all rights, title and interest in and to said work, including the copyright therein.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> agrees to furnish and execute such additional documents as </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> may require in order to establish </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">'s ownership of the copyright in the work including such assignments of the copyright therein throughout the world as </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> may deem appropriate.</font>
		</p>
		<p style="margin:6pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article IX.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">CONFIDENTIALITY</font>
		</p>
		<p style="margin:6pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 9.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Confidential Information</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">C</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">xg</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">onfidential Information</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; of a party means information relating to the business, operations or products of a party, including any know-how, that such party discloses to the other party under this Agreement, in any form, or otherwise becomes known to the other party by virtue of this Agreement.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<a name="_Ref338868102"></a><a name="_Toc338873059"></a><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 9.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Confidentiality Obligations</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Each p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty agrees that, for the Term and for f</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">ive (5) years thereafter, such p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty shall, and shall ensure that its </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">r</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">epresentatives hold in confidence all Confidential Information disclosed to it</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> by the other party or learned by such party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> pursuant to this Agreement, unless such information:</font><a name="_Toc338873060"></a><br /><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"><br /></font>
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		<p style="margin:0pt 0pt 3pt 144pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:left;font-weight:normal;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">(i)</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">is or becomes generally available to the public other than as a result of disclosure by the recipient;</font>
		</p>
		<p style="margin:12pt 0pt 3pt 144pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:left;font-weight:normal;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">(ii)</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">is already known by or in the possession of the recipient at the time o</font><font style="display:inline;font-size:11pt;color:#000000;">f disclosure by the disclosing p</font><font style="display:inline;font-size:11pt;color:#000000;">arty;</font>
		</p>
		<p style="margin:12pt 0pt 3pt 144pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:left;font-weight:normal;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">(iii)</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">is independently developed by recipient without use of </font><font style="display:inline;font-size:11pt;color:#000000;">or reference to the disclosing p</font><font style="display:inline;font-size:11pt;color:#000000;">arty&#x2019;s Confidential Information; or</font>
		</p>
		<p style="margin:12pt 0pt 3pt 144pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:left;font-weight:normal;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;color:#000000;">(iv)</font><font style="display:inline;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;color:#000000;">i</font><font style="display:inline;font-size:11pt;color:#000000;">s obtained by recipient from a third p</font><font style="display:inline;font-size:11pt;color:#000000;">arty that has not breached any obligations of confidentiality.</font>
		</p>
		<p style="margin:12pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">The recipient shall not disclose any of the Confidential Information, except to </font><font style="display:inline;font-size:11pt;">r</font><font style="display:inline;font-size:11pt;">epresentatives of the recipient who need to know the Confidential Information for the purpose of performing the recipient&#x2019;s obligations, or exercising </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;">its rights, under this Agreement and who are bound by obligations of non-use and non-disclosure substantially similar to those set forth herein.&nbsp;&nbsp;The recipient shall be responsible for any disclosure or use of the Confidential Information by such </font><font style="display:inline;font-size:11pt;">r</font><font style="display:inline;font-size:11pt;">epresentatives.&nbsp;&nbsp;The recipient shall protect Confidential Information using not less than the same </font><font style="display:inline;font-size:11pt;">care with which it treats its own confidential information, but at all times shall use at least reasonable care.&nbsp;&nbsp;Each </font><font style="display:inline;font-size:11pt;">p</font><font style="display:inline;font-size:11pt;">arty shall: (a) implement and maintain appropriate security measures to prevent unauthorized access to, or disclosure of, the other </font><font style="display:inline;font-size:11pt;">p</font><font style="display:inline;font-size:11pt;">arty&#x2019;s Confidential Information;</font><font style="display:inline;font-size:11pt;"> (b) promptly notify the other p</font><font style="display:inline;font-size:11pt;">arty of any unauthorized acce</font><font style="display:inline;font-size:11pt;">ss or disclosure of such other p</font><font style="display:inline;font-size:11pt;">arty&#x2019;s Confidential Information; and (c) cooperate with such other </font><font style="display:inline;font-size:11pt;">p</font><font style="display:inline;font-size:11pt;">arty in the investigation and remediation of any such unauthorized access or disclosure.</font>
		</p>
		<p style="margin:8pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 9.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Use</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Notwithstanding Section </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">9.02</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, a </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty may use the Confidential Information of the other </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">solely </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">for the purpose of performing its obligations</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> under this Agreement.&nbsp; </font><a name="_Toc338873061"></a>
		</p>
		<p style="margin:8pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 9.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Required Disclosure</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The recipient may disclose the Confidential Information to the extent required by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">l</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">aw or court order; provided, however, that the recipient promptly provides to the disclosing party prior written notice of such disclosure and provides reasonable assistance in obtaining an order or other remedy protecting the Confidential Information from public disclosure.</font>
		</p>
		<p style="margin:8pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article X.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">REPRESENTATIONS AND WARRANTIES</font>
		</p>
		<p style="margin:8pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 10.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Representations and Warranties by each Party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Each </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty represents, warrants and covenants that:</font><br /><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"><br /></font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;font-weight:normal;font-family:Arial;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">(a)</font><font style="display:inline;font-family:Times New Roman;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;text-decoration:underline;color:#000000;">Organization and Good Standing</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Such </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">arty is and will remain a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization; </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-weight:normal;font-family:Arial;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">(b)</font><font style="display:inline;font-family:Times New Roman;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;text-decoration:underline;color:#000000;">Authorization</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The execution and delivery of this Agreement has been authorized by all requisite corporate action.&nbsp;&nbsp;This Agreement is and will remain a valid and </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">binding obligation of such p</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">arty, enforceable in accordance with its terms, subject to any </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">pplicable </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">l</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">aws with respect&nbsp;&nbsp;to bankruptcy, insolvency and the relief of debtors; </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-weight:normal;font-family:Arial;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">(c)</font><font style="display:inline;font-family:Times New Roman;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;text-decoration:underline;color:#000000;">No Broker</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">. Neither party has dealt with a </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">broker, agent or finder in connection with this Agreement</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">; &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-weight:normal;font-family:Arial;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">(d)</font><font style="display:inline;font-family:Times New Roman;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;text-decoration:underline;color:#000000;">No Conflict</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">Such party is </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">authorized to enter into this Agreement and that the respective signatories hereto have </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">been authorized to sign this Agreement, and such party</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> does not require consent from and is not violating any </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">contractual obligation with any other party by entering into this Agreement</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">; and </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;font-weight:normal;font-family:Arial;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">(e)</font><font style="display:inline;font-family:Times New Roman;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;text-decoration:underline;color:#000000;">Compliance with Laws</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> &nbsp;Such party shall comply with all</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> applicable laws, regulations and ordinances and the permits, orders and requirements of all government authorities in connection with its grant of and use of the Licensed Space</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">, Support Services and Processing of the Product</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">.&nbsp;&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">Without limiting the pr</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">e</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">ceding sentence, Licensee acknowledges that its obligations will include maintaining appropriate material safety data sheet</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">s</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> and other records and provide the same to Licensor to enable Licensor to comply with its obligations.</font>
		</p>
		<p style="margin:8pt 0pt 0pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 10.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Restrictions on Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;"> and Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;"> Activities</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> acknowledge that </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">each of them and their</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> officers, employees and agents will during the Term gain substantial knowledge of the business of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the other party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Accordingly, Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> and Licensee each</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> on behalf of itself, its officers and employees hereby covenants that, during the Term and for a period of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">two (2) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">years after the expiration or termination of this Agreement, it will not, without the prior written consent of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the other party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> hire, employ, solicit or attempt to solicit or induce any person employed by </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the other party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to leave such employment or to break his or her non-competition agreement, non-disclosure agreement or any other agreement with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the other party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> (the Parties acknowledge </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">that general advertisements and job postings shall not be violations of this Section 10.02)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:8pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 10.03</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Licensor&#x2019;s Officers</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;"> Employees</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;"> and Agents</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Licensor shall bind and engage all of its officers, employees and agents who will or might reasonably be expected to perform or assist to perform Support Services under this Agreement to an agreement having terms the same as or equivalent to the terms of Article&nbsp;&nbsp;9.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 10.04</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Permits</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Each party represents, warrants and covenants that it shall apply for, obtain and maintain, at its expense, any additional permits or approvals required for such party to obtain in accordance with </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Schedule </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">IV</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 10.05</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Hazardous Materials</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Each party represents, warrants and covenants that it, its employees, and agents shall not </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">generate, store, install,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">dispose of or otherwise handle in the Common Space any hazardous material. Without limiting the effect of the preceding sentence, Licensee shall be responsible for proper labeling and storage of all hazardous materials generated, stored, installed, disposed of or otherwise handled in the Licensed Space by Licensee and its employees, or in or around the Premises, by Licensee. </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:8pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XI.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">INSURANCE, INDEMNIFICATION</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;"> &amp; </font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">LIMITA</font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">TION OF LIABILITY</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 11.01</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Insurance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. Each party shall obtain and maintain throughout the Term, at its sole cost and expense, commercially reasonable insurance coverage under an insurance policy/ies, in an amount and with an insurance carrier that is reasonably satisfactory to the other party.&nbsp;&nbsp;&nbsp;Each party shall provide the other party with a certificate of insurance suitable to the other party evidencing such insurance policy/ies an</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">d stating that such policy/ies </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">are in full force and effect and shall remain in effect throughout the Term, unless the insurance carrier provides not less than sixty (60) days prior written notice of expiration or cancellation.&nbsp;&nbsp;Upon receipt of any such notice from an insurance carrier, such party shall promptly provide such notice to the other party. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Licensor and Licensee agree to have their respective insurance companies issuing property damage insurance waive any rights of subrogation that such companies may have against Licensor or Licensee, as the case may be, so long as the insurance carried by Licensor and Licensee, respectively, is not invalidated thereby, and except with respect to loss or damage caused by the gross negligence or willful misconduct of the other party, its employees or agents.&nbsp;&nbsp;As long as such waivers of subrogation are contained in their respective insurance policies, Licensor and Licensee hereby waive any right that either may have against the other on account of any loss or damage to their respective property to the extent such loss or damage is insurable under property damage insurance, and except with respect to loss or damage caused by the gross negligence or willful misconduct of the other party, its employees or agents.&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 11.02</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Indemnification by Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor shall save, defend, indemnify and hold Licensee, its affiliates and their respective officers, directors, employees and agents harmless from and against any and all losses, damages, liabilities, costs and expenses (including reasonable attorneys&#x2019; fees and expenses) (collectively, &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Losses</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to the extent </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arising in connection with any and all charges, complaints, actions, suits, proceedings, hearings, investigations, claims, demands, judgments, orders, decrees, stipulations or injunctions by a third party (each a &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Third Party Claim</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;) resulting or otherwise arising from or in connection with (a) Licensor&#x2019;s breach of its obligations, covenants, representations or warranties contained in this Agreement, (b) any negligent act or omission or willful misconduct of Licensor, its employees or any individuals involved in the fulfillment of Licensor&#x2019;s obligations under this Agreement, or (c) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">resulting </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">from Licens</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x2019;s </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or its other </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">licensees, tenants or subtenants other than Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> use of the Licensed Space, except to the extent any of the foregoing results from </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the negligence or willful misconduct of Licens</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">ee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">its </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">agents, employees, invitees or guests or any failure </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">by Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> to observe or perform any of the terms, covenants or conditions of this Agreement required to be observed or performed by Licens</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">ee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 11.03</font><font style="display:inline;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Indemnification by Licensee</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;Licensee shall save, defend, indemnify and hold Licensor, its affiliates and their respective officers, directors, employees and agents harmless from and against any and all Losses </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">to the extent </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arising in connection with any and all Third Party Claim resulting or otherwise arising from or in connection with (a) Licensee&#x2019;s breach of its obligations, covenants, representations or warranties contained in </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">9</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:6pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">this Agreement, (b) any negligent act or omission or willful misconduct of Licensee, its employees or any individuals involved in the fulfillment of Licensee&#x2019;s obligations under this Agreement, (c) resulting </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">from Licensee&#x2019;s use of the Licensed Space, except to the extent any of the foregoing results from </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">the negligence or willful misconduct of Licensor, Licensor&#x2019;s other licensees, tenants or subtenants other than Licensee, anyone claiming through or under </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Licensor, or Licensor&#x2019;s or such other party&#x2019;s agents, employees, invitees or guests or any failure </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">by Licensor to observe or perform any of the terms, covenants or conditions of this Agreement required to be observed or performed by Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">Section 11.04</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">LIMITATION OF LIABILITY</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">Notwithstanding any provision of this Agreement to the contrary</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">, and except for breaches of Article</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;"> IX</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">, a Party&#x2019;s indemnification obligation </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">under SectioNS 11.02 OR 11.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">, or damages resulting from </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">A PARTY&#x2019;s </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">willful misconduct, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">in no event shall Licensor or Licensee, or any of their respective directors, officers, shareholders, investors, employees, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">advisers or agents, be responsible under or for breach of any provision of this Agreement for interruption or loss of business</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;"> (specifically including any interruption resulting from the need to conduct repairs or maintenance on any of the Premises or any of the equipment provided by licensor)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:uppercase;font-size:11pt;color:#000000;">, income or profits, or any consequential, indirect or special damages.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 12pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 11.05</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;text-decoration:underline;color:#000000;">DISCLAIMER OF WARRANTIES</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">.&nbsp;&nbsp;EXCEPT FOR THE EXPRESS WARRANTIES IN SECTION 10.1, THE PARTIES HEREBY EXPRESSLY&nbsp;&nbsp;DISCLAIM ANY AND ALL OTHER EXPRESS OR IMPLIED WARRANTIES REGARDING THE PREMISES, THE LICENSED SPACE, THE SUPPORT SERVICES AND ANY OTHER MATERIALS OR SUPPLIES PROVIDE</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">D</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;"> UNDER THIS AGREEMENT, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.&nbsp;&nbsp;WITHOUT LIMITING THE FOREGOING, LICENSEE ACKNOWLEDGES THAT </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">(a) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">LICENSOR MAKES NO REPRESENTATIONS ABOUT THE PERFORMANCE OR CONDITION OF </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">THE PREMISES, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">ANY EQUIPMENT </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">ON THE PREMISES </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">AND ANY BUILDING SYSTEMS </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">SERVING THE PREMISES </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">(INCLUDING HVAC, ELECTRICAL AND PLUMBING)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">AND </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">(b) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">LICENSEE HAS BEEN GIVEN FULL OPPORTUNITY TO EVALUATE AND ASSESS </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">THE PREMISES AND ALL </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">SUCH EQUIPMENT AND SYSTEMS</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;"> AND ASSOCIATED BOOKS AND RECORDS OF LICENSOR</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:12pt;color:#000000;">.</font>
		</p>
		<p style="margin:8pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">LICENSE TERM &amp; TERMINATION</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 12.01</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Term</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> Unless otherwise terminated pursuant to the terms of this Agreement, the License granted hereunder shall commence on the Occupancy Date and shall end five (5) years after such date (&#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Term</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;).</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 12.02</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Termination</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;This Agreement may be terminated as follows:</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45.35pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(a)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If either </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensee or Licensor</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> materially breaches or materially defaults in the performance or observance of any of its respective obligations under this Agreement, and such breach or default is not cured within </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">sixty </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">6</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">0)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> days </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(fifteen (15) days in the event of default in the payment of Fees under Article VII) </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">after the giving of written notice by the other party specifying such breach or default, then such other party shall have the right to terminate this Agreement by providing the breaching party written notice within ten (10) days following the expiration of such ninety (90)-day period (such termination to be effective upon receipt of such termination notice).&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 0pt;text-indent:45.35pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(b)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If either party is generally unable to meet its debts when due, or makes a general assignment for the benefit of its creditors, or there shall have been appointed a receiver, trustee or other custodian for such party for or a substantial part of its assets, or any case or proceeding shall have been commenced or other action taken by </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">10</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:12pt 0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">or against such party in bankruptcy or seeking the reorganization, liquidation, dissolution or winding-up of such party or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law, and any such event shall have continued for sixty (60) days undismissed, unstayed, unbonded and undischarged, then the other party may, upon notice to such party, terminate this Agreement, such termination to be effective upon such party&#x2019;s receipt of such notice.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45.35pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(c)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> a substantial portion of the Licensed Space is damaged as a result of fire or other casualty or is taken by means of eminent domain, Licensor may terminate this Agreement upon notice to Licensee.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(d)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">If </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">either party</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">provides </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">the other</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">eighteen (18) months written notice of termination anytime two (2) years after the Effective Date.&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 12.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Effects of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Expiration and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Termination</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(a)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Upon </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">expiration or </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">termination of t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">his</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> Agreement, all licenses and rights shall terminate; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(b)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Following expiration or termination of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">his</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> Agreement,</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> (i) each of Licensee and Licensor shall, upon request of the other party, return or destroy all Licensor Confidential Information and Licensee Confidential Information, respectively, disclosed to it pursuant to this Agreement, including all copies and extracts of documents, as promptly as practicable following receipt of such request, except that one (1) copy may be kept for the purpose of complying with continuing obligations under this Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">; and </font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:45pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(c)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Following expiration or termination of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">t</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">his</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> Agreement, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensee shall vacate and decommission to commercially reasonable standards the Dedicated Space</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">, leave the Licensed Space broom clean and in the same general order and condition as the Licensed Space on the Occupancy Date, except for </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">reasonable wear and tear, and promptly provide a copy of all decommissioning documentation to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensor. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Licensee shall</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> after such termination or expiration</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> (1) remove all of Licensee&#x2019;s personal property and all other property and effects of Licensee and all persons claiming through or under Licensee from the Licensed Space and the Premises</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">, (2) remove all Equipment, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">and (</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">3</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">) repair all damage to the Licensed Space and the Premises, if any, occasioned by such removal, reasonable wear and tear excepted.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;"> &nbsp;Licensor shall provide Licensee with full access and the right to remove the foregoing property (including Equipment) from the Licensed Space following expiration or termination of this Agreement.&nbsp; </font>
		</p>
		<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 12.04</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Survival</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">. The termination</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or expiration of this Agreement shall not relieve the parties of any obligations accruing prior to such termination, and any such termination shall be without prejudice to the rights of either party against the other.&nbsp;&nbsp;The provisions of Sections</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> 6.04, 7.01, 7.04 and 12.03 and Articles 8, 9, 10 and 11</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> shall survive any termination of this Agreement.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-align:center;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XIII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 11pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;font-family:Times New Roman;font-size:11pt;color:#000000;">MISCELLANEOUS</font>
		</p>
		<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.01</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Notices</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:36pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(a)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Any notice or communications </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">given or required to be given pursuant to this Agreement shall be effective only </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">if rendered or given in writing, sent by (1) registered or certified mail, return receipt requested, </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(2) a nationally recognized courier service such as Federal Express or UPS, or (3) hand delivery </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(with a duplicate copy sent via either method described in (1) or (2) immediately above) addressed: </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">I</font><font style="display:inline;font-size:11pt;">f to Licensee, to:</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">AxoGen Corporation </font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">13631 Progress Blvd, Suite 400</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">11</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-size:11pt;">Alachua, FL 32615</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Attn: Karen </font><font style="display:inline;font-size:11pt;">Zaderej</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-style:italic;font-size:11pt;">With a copy to: </font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">DLA Piper LLP</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">One Liberty Place</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">1650 Market Street, Suite 4900</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Philadelphia, PA 19103</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Attn: Fahd M.T. Riaz, Esq.</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">I</font><font style="display:inline;font-size:11pt;">f to Licensor, to:</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Community Tissue Services</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">349 S. Main Street</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Dayton, </font><font style="display:inline;font-size:11pt;">OH</font><font style="display:inline;font-size:11pt;"> 45402</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Attn: </font><font style="display:inline;font-size:11pt;">Diane </font><font style="display:inline;font-size:11pt;">Wilson</font><font style="display:inline;font-size:11pt;">, COO</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-style:italic;font-size:11pt;">With a copy to: </font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Coolidge Wall</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">600 W. First Street</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Dayton, OH 45402</font>
		</p>
		<p style="margin:0pt 207.35pt 0pt 0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Attn: </font><font style="display:inline;font-size:11pt;">Sam Warwar, Esq</font><font style="display:inline;font-size:11pt;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;text-indent:36pt;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">(b)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">Any such demand, notice, communication or report shall be </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">deemed to have been given pursuant to this Agreement upon delivery or refusal of delivery</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">. Either party may at any time change its address for </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">notification purposes by providing written notice stating the change and setting forth the new </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-size:11pt;color:#000000;">address.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.02</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Entire Agreement</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Except as expressly otherwise provided herein, this Agreement together with the exhibits and schedules attached hereto, which are incorporated herein by this reference, embodies and constitutes the entire understanding between the parties with respect to the licensing transaction contemplated herein. This Agreement may not be modified, amended or terminated, and Licensee&#x2019;s obligations hereunder shall in no way be discharged, except as expressly provided in this Agreement or by written instrument executed by the parties hereto. </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">This Agreement shall not be construed in any way to grant Licensee any leasehold or other real </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">property interest in the Licensed Space. This Agreement merely grants Licensee this License to </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">enter upon, occupy and use the Licensed Space during the Term in accordance with the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">terms and conditions hereof.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.03</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Assignment</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Neither party may assign its rights or delegate its duties under this </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Agreement (whether by operation of law</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or otherwise</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> without the prior written consent of the other party.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">This Agreement shall be binding upon and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">inure to the benefit of the parties hereto and their respective legal representatives, successors and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">assigns.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.04</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Recording</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Neither Licensor nor Licensee shall have the right to record this Agreement or any memorandum thereof.</font>
		</p>
		<p style="margin:12pt 0pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.05</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Dispute Resolution</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><a name="_Toc338873083"></a><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Either </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty may, by written notice to the other </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty, request that a dispute be resolved by the </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Chief Executive Officer</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> or General Counsel</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> of Licensee and </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Chief Operating Officer</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">of Licensor (collectively referred to herein as the &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Executive Officers</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D;)</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, within fifteen (15) days after referral of such dispute to them.&nbsp;&nbsp;If the Executive Officers cannot resolve such dispute within fifteen (15) days after referral of such dispute to </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">12</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p style="margin:12pt 0pt 3pt;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">them, then, at any time after such fifteen (15</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">) day period, either p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty may proceed to enforce any and all of its rights with respect to such dispute.</font><a name="_Toc338873084"></a><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.06</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Injunctive Relief</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;No provision herein shall be construed as precluding a </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">p</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">arty from bringing an action for injunctive </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">relief or other equitable relief prior to the initiation or completion of the procedure set forth in Section </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">13.05</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.07</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Governing Law</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">This Agreement shall be governed by and construed in accordance</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> with the laws of the State of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Delaware</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">without regard to its conflict of law provisions.&nbsp; </font><a name="_Toc185823671"></a>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.08</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-size:12pt;display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Severability</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp;If and solely to the extent that any provision of this Agreement shall be invalid or unenforceable, or shall render this entire Agreement to be unenforceable or invalid, such offending provision shall be of no effect and shall not affect the validity of the remainder of this Agreement or any of its provisions; </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">provided</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">however</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">, the parties shall use their respective reasonable efforts to replace the invalid provisions in a manner that best accomplishes the original intentions of the parties.&nbsp; </font><a name="_Toc185823672"></a>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.09</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-size:12pt;display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Waivers</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;Any term or condition of this Agreement may be waived at any time by the party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the party or parties waiving such term or condition.&nbsp;&nbsp;Neither the waiver by any party of any term or condition of this Agreement nor the failure on the part of any party, in one or more instances, to enforce any of the provisions of this Agreement or to exercise any right or privilege, shall be deemed or construed to be a waiver of such term or condition for any similar instance in the future or of any subsequent breach hereof. All rights, remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them shall be a limitation of any other remedy, right, undertaking, obligation or agreement.</font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.10</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Interpretation</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;The term &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">business days</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; as used in this Agreement shall exclude Saturdays, Sundays and holidays, the term &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Saturdays</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; as used in this Agreement shall exclude </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">holidays and the term &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">holidays</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; as used in this Agreement shall mean all days observed as legal </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">holidays by either the State of </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Ohio</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">or the United States of America.</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">The terms &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Person</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; and &#x201C;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">persons</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&#x201D; as used in this Agreement shall be deemed to include natural persons, firms, corporations, associations and any other private or public entities, whether any of the foregoing are acting on their own behalf or in a representative capacity. Whenever the words &#x201C;including&#x201D;, &#x201C;include&#x201D; or &#x201C;includes&#x201D; are used in this Agreement, they shall be interpreted in a nonexclusive manner. </font>
		</p>
		<p style="margin:12pt 0pt 3pt;border-top:1pt none #D9D9D9 ;font-family:Cambria;font-weight:bold;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">Section 13.11</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;text-decoration:underline;color:#000000;">Execution and Counterparts</font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">.&nbsp;&nbsp;This Agreement shall not be binding or effective until this Agreement is executed and delivered by Licensor and Licensee. This Agreement may be executed in several counterparts, each of which shall constitute an original, but all of which together shall constitute one and the same instrument. The execution of this Agreement may be </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">effected by electronically transmitted (email) or facsimile signatures, all of which shall be treated </font><font style="display:inline;font-family:Times New Roman;font-weight:normal;font-style:normal;font-size:11pt;color:#000000;">as originals.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-style:italic;font-size:11pt;">[signatures on next page]</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">13</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;text-indent:72pt;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;">IN WITNESS&nbsp;&nbsp;WHEREOF</font><font style="display:inline;font-size:11pt;">, the parties hereto have duly executed this Agreement as of the day and year first above written.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">LICENSOR:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.9pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">COMMUNITY BLOOD CENTER (D/B/A COMMUNITY TISSUE SERVICES)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:04.28%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.20%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">/s/ Diane Wilson</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:04.28%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.20%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Name: Diane Wilson</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:04.28%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:45.20%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Title:</font><font style="display:inline;font-size:11pt;"> &nbsp;COO</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">LICENSEE:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">AXOGEN CORPORATION</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">By:</font><font style="display:inline;font-size:11pt;"> &nbsp;/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Name: </font><font style="display:inline;font-size:11pt;">Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:47.94%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:02.58%;padding:0pt;">
					<p style="margin:0pt;line-height:13.7pt;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:49.48%;padding:0pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:13.7pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Title:</font><font style="display:inline;font-size:11pt;"> &nbsp;CEO</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;font-size:12pt;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">14</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;font-weight:bold;font-size:12pt;">EXHIBIT A</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">Premises</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-size:12pt;">See attached</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">15</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">EXHIBIT B</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">List of Initial Standard Operating Procedures</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;width:22.74%;background-color: #BFBFBF;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">Document #</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;width:77.26%;background-color: #BFBFBF;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">Document Name</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XIV.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 16pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;color:#000000;">HUMAN RESOURCES</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-001-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Unauthorized Computer Software Usage</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-002-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Telephones&nbsp;&nbsp;&amp; Cellular Phones</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-003-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Electronic Mail Usage</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-004-POL </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Social Media</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-005-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Internet Usage</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRTECH-006-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Using Mobile Devices</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HREMP-002-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Harassment Policy</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HREMP-003-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Customer Service Policy</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HREMP-009-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Code of Ethics</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:19.30pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HREMP-010-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:19.30pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Temporary Contract Workers</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HREMP-011-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Drug Free Workplace</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRPERS-015-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Dress Code</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRPERS-016-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Parking Lot Policy</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HR-004-F</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Parking Agreement</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRBEN-012-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Holidays</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-001-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Safety/Security</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-002-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Identification Badges</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-003-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Workplace Violence</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-004-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Weapons-Workplace</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-006-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Drug &amp; Alcohol Testing</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">HRHSAF-012-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Smoking in the Workplace</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XV.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">SAFETY</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-100</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Accident/Illness Process</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-102</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Exposure Control</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-200</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Portable Fire Extinguishers</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-201</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Fire Drills</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-401</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Biological Spills</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-409</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Prevention of Chemical Injuries</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-411</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Prevention of Biological Hazards</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-505</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">CBC/CTS Dayton Intruder Plan</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-510</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Incident Reports</font></p>
				</td>
			</tr></table></div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">16</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">SAF-Form 368</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Fire Alarm Activation Work Aid</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XVI.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 16pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;color:#000000;">FACILITIES</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">FAC-200</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Performing Preventive Maintenance</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">FAC-500-POL</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Visitors &amp; Guests</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XVII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 16pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;color:#000000;">INFORMATION TECHNOLOGY</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">IT-202</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;height:15.00pt;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-family:Calibri;color:#000000;">Requesting IT Support</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XVIII.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 16pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;color:#000000;">GENERAL</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-F-02</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Incineration Record</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-WI-03</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Physical Discard of Tissue/Regulated Waste</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">300-WI-04</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Maintaining Biohazard Documentation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-JA-04</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Maintaining Biohazard Documentation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-JA-05</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Maintaining Biohazard Documentation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-JA-06</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Monthly Invoice-Certificate of Treatment</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-300-JA-07</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Maintaining Biohazard Documentation</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">CTS-500 series</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Storage of Human Tissue</font></p>
				</td>
			</tr>
			<tr>
				<td colspan="2" valign="top" style="border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;width:100.00%;background-color: #8496B0;padding:0pt 6.9pt;">
					<p style="margin:12pt 0pt 3pt;font-family:Cambria;font-weight:bold;font-size: 16pt;">
						<font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;">Article XIX.</font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;;font-size: 16pt;font-family:Cambria;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-family:Times New Roman;text-transform:uppercase;font-size:11pt;color:#000000;"></font><font style="display:inline;color:#000000;">QUALITY ASSURANCE</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">JCI-010 series</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Probe Calibration</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">JCI-011 series </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Event Report Review</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">JCI-100 series</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Overview of JCI monitoring system</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;color:#FFFFFF;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">JCI-101 series</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Alarm Trouble Shooting</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:22.74%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">DRC-410 Series </font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:77.26%;background-color: #auto;padding:0pt 6.9pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">JCI Event Notification</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			&nbsp;
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;">17</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font>

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">SCHEDULE I</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Licensor&#x2019;s FF&amp;E</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-432</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">(</font><font style="display:inline;font-size:11pt;">AxoGen office</font><font style="display:inline;font-size:11pt;">) - </font><font style="display:inline;font-size:11pt;">1 desk, 1 table, 4 chairs &amp; 1 credenza.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-430 (</font><font style="display:inline;font-size:11pt;">AxoGen office</font><font style="display:inline;font-size:11pt;">) - </font><font style="display:inline;font-size:11pt;">1 desk and 1 chair.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-431 (</font><font style="display:inline;font-size:11pt;">common are</font><font style="display:inline;font-size:11pt;">a) - </font><font style="display:inline;font-size:11pt;">2</font><font style="display:inline;font-size:11pt;"> desk</font><font style="display:inline;font-size:11pt;">s,</font><font style="display:inline;font-size:11pt;"> &nbsp;10 Chairs, 1 love seat, 1 end table, 1 conference table &amp; a copy/scanner.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-405 (</font><font style="display:inline;font-size:11pt;">AxoGen conference</font><font style="display:inline;font-size:11pt;">) &nbsp;</font><font style="display:inline;font-size:11pt;">- &nbsp;</font><font style="display:inline;font-size:11pt;">1</font><font style="display:inline;font-size:11pt;"> Conference table, 6 chairs &amp; TV cabinet.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-404</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">(</font><font style="display:inline;font-size:11pt;">AxoGen office</font><font style="display:inline;font-size:11pt;">) -</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">4 drawer file, desk chair &amp; 2-</font><font style="display:inline;font-size:11pt;">3 drawer files.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-family:Symbol;font-size:12pt;">&#xF0B7;</font><font style="display:inline;font-family:Symbol;font-size:12pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-family:Symbol;font-size:12pt;"></font><font style="display:inline;font-size:11pt;">R</font><font style="display:inline;font-size:11pt;">oom M-403</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">(</font><font style="display:inline;font-size:11pt;">AxoGen office</font><font style="display:inline;font-size:11pt;">) -</font><font style="display:inline;font-size:11pt;"> &nbsp;1 desk chair</font><font style="display:inline;font-size:11pt;">,</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">1-</font><font style="display:inline;font-size:11pt;">4 drawer file, 1-2 drawer file &amp; 1-</font><font style="display:inline;font-size:11pt;">3 drawer file.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">SCHEDULE II</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;text-decoration:underline;">Fees</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">1.</font><font style="display:inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;">License Fees: </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 72pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">a.</font><font style="display:inline;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">Licensee shall pay the following License Fee for the Licensed Space: </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 110.15pt;background-color: #FFFFFF;text-indent: -10.8pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">i.</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">During the period after the Occupancy Date and before </font><font style="display:inline;font-size:11pt;">the earlier of: (a) </font><font style="display:inline;font-size:11pt;">February 1</font><font style="display:inline;font-size:11pt;">, 2016 or (b) the date Licensee commences </font><font style="display:inline;font-size:11pt;">Processing of tissue prior to the commercial sales of the Product</font><font style="display:inline;font-size:11pt;"> at the Licensed Space</font><font style="display:inline;font-size:11pt;">, Licensee shall pay to Licensor a monthly License Fee of $17,334/month; and </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 110.15pt;background-color: #FFFFFF;text-indent: -10.8pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">ii.</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">After </font><font style="display:inline;font-size:11pt;">the earlier of: (a) the date </font><font style="display:inline;font-size:11pt;">Licensee commences Processing </font><font style="display:inline;font-size:11pt;">of </font><font style="display:inline;font-size:11pt;">tissue</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">prior to the</font><font style="display:inline;font-size:11pt;">&nbsp;</font><font style="display:inline;font-size:11pt;">commercial sale</font><font style="display:inline;font-size:11pt;">s</font><font style="display:inline;font-size:11pt;"> of the Product</font><font style="display:inline;font-size:11pt;">; or (b) </font><font style="display:inline;font-size:11pt;">February 1</font><font style="display:inline;font-size:11pt;">, 2016,</font><font style="display:inline;font-size:11pt;"> and for the remainder of the Term, Licensee shall pay to Licensor a monthly License Fee of $34,667/month.&nbsp; </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 72pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">b.</font><font style="display:inline;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-size:11pt;"></font><font style="display:inline;font-size:11pt;">In the event that Licensee obtains </font><font style="display:inline;font-size:11pt;">c</font><font style="display:inline;font-size:11pt;">lean </font><font style="display:inline;font-size:11pt;">r</font><font style="display:inline;font-size:11pt;">ooms during the Term in addition to those set forth in Section 2.</font><font style="display:inline;font-size:11pt;">0</font><font style="display:inline;font-size:11pt;">1, then Licensee shall pay to Licensor the amount of: $4,000/week for space that is greater than 185 sq ft and configured to allow for two (2) or more hoods for Processing, or $2,400/week for space that is equal to or less than 185 sq ft </font><font style="display:inline;font-size:11pt;">and </font><font style="display:inline;font-size:11pt;">configured to allow for one (1) hood for Processing.&nbsp;&nbsp;The foregoing additional costs shall include the necessary additional Office Space and Warehouse Space related to such additional </font><font style="display:inline;font-size:11pt;">clean rooms. </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">2.</font><font style="display:inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;">Support Services Fees: </font><font style="display:inline;font-size:11pt;">Licensee shall pay the rate of (a) </font><font style="display:inline;font-weight:bold;font-size:11pt;">[</font><font style="display:inline;font-weight:bold;font-size:11pt;">***</font><font style="display:inline;font-weight:bold;font-size:11pt;">]</font><font style="display:inline;font-size:11pt;">; and (b) </font><font style="display:inline;font-weight:bold;font-size:11pt;">[</font><font style="display:inline;font-weight:bold;font-size:11pt;">***</font><font style="display:inline;font-weight:bold;font-size:11pt;">]</font><font style="display:inline;font-size:11pt;">.</font><font style="display:inline;font-weight:bold;font-size:11pt;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:11pt;">Licensee will provide Licensor a month</font><font style="display:inline;font-size:11pt;">l</font><font style="display:inline;font-size:11pt;">y report of </font><font style="display:inline;font-weight:bold;font-size:11pt;">[</font><font style="display:inline;font-weight:bold;font-size:11pt;">***</font><font style="display:inline;font-weight:bold;font-size:11pt;">]</font><font style="display:inline;font-size:11pt;"> no later than fifteen (15) days following the end of eac</font><font style="display:inline;font-size:11pt;">h</font><font style="display:inline;font-size:11pt;"> calendar moth during the Term.</font><font style="display:inline;font-size:11pt;"> &nbsp;Licensee will cooperate with Licensor in the periodic auditing of the Support Services Fees by providing Licensor access to such books and records of Licensee as needed to validate Licensee&#x2019;s compliance with this Agreement; provided that Licensor shall not request such access more often than once per calendar year during the Term. </font>
		</p>
		<p style="margin:21.85pt 0pt 0pt 36pt;background-color: #FFFFFF;text-indent: -18pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">3.</font><font style="display:inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 11.4pt 0pt 0pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;"></font><font style="display:inline;font-weight:bold;font-size:11pt;">Fee Adjustment:&nbsp; </font><font style="display:inline;font-size:11pt;">In addition to adjustments under the circumstances described in Section 4.01, The License Fee and the Support Services Fees shall increase by</font><font style="display:inline;font-size:11pt;"> the lesser of: (1) the increase in the particular year of the </font><font style="display:inline;font-size:11pt;">Producer Price Index</font><font style="display:inline;font-size:11pt;">; or (2)</font><font style="display:inline;font-size:11pt;"> three percent (3%)</font><font style="display:inline;font-size:11pt;">,</font><font style="display:inline;font-size:11pt;"> effective January 1, 2016 and on each January 1 thereafter during the Term.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">SCHEDULE III</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Improvement Specifications</font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">CTS shall provide: </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">2 clean rooms and clean corridor area meeting ISO 7 or better in accordance with ISO 14644 standards.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">Adequate electrical service for current and future expansion in accordance with National Electrical Code (NEC).&nbsp;&nbsp;Emergency electrical generator service shall be provided to the hoods, incubators, sealers, burst test, freezers and other ancillary equipment.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">A modified water plumbing system to provide decontamination floor sink and spray faucet, double sink and spray faucet along with eye wash and safety shower.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">Compressed air and outlets to sealers and test devices. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">24/7 clean room temperature, humidity and pressure via the building automation system (BAS).</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt 0pt 10pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">Incubator, refrigerator and freezer 24/7 monitoring via Johnson Control system.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 00.00pt; display: inline;">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;line-height:115%;border-top:1pt none #D9D9D9;font-size:11pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:18pt;"><p style="width:18pt;width:18pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="line-height:115%;border-top:1pt none #D9D9D9 ;font-family:Calibri;font-size: 11pt;margin:0pt;">
			<font style="display:inline;font-family:Times New Roman;color:#000000;">Conditioned space for refrigerators and freezers with dedicated 20 A circuits on emergency electrical generator. </font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Construction shall be permitted in accordance with the City of Dayton, Ohio requirements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Clean space shall have fiberglass reinforced plastic (FRP) walls.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Lighting shall be upgraded to accommodate the hoods being located inside the clean rooms.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Renovated space shall have Mannington Biospec welded seam vinyl flooring.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">All spaces in the clean core area shall be air balanced for proper air pressure control.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">Agape Instrument Service shall test and certify the spaces in accordance to ISO 14644.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;"></font></p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><p style="margin:0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;"><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">SCHEDULE </font><font style="display:inline;font-weight:bold;font-size:11pt;text-decoration:underline;">IV</font>
		</p>
		<p style="margin:21.85pt 0pt 0pt;background-color: #FFFFFF;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;text-decoration:underline;">Standard License Services</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.08%;margin-left:0.05pt;">
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="width:46.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:10.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:16.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">1</font></p>
				</td>
				<td colspan="5" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:16.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Receptionist</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">1.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Generally</font></p>
				</td>
				<td colspan="2" valign="top" style="width:46.72%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;line-height:12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">A&nbsp;&nbsp;receptionist&nbsp;&nbsp;will&nbsp;&nbsp;attend&nbsp;&nbsp;the&nbsp;&nbsp;main&nbsp;&nbsp;lobby during business hours (business hours stated </font><font style="display:inline;font-size:11pt;">in the SOPs) to greet Licensee&#x2019;s guests.</font></p>
				</td>
				<td valign="top" style="width:10.60%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:17.39pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">2</font></p>
				</td>
				<td colspan="5" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:17.39pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Waste</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">2.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Removal</font></p>
				</td>
				<td valign="top" style="width:46.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0.5pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;text-indent: -0.5pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Remove office and non-office waste.&nbsp;&nbsp;&nbsp;Waste to be handled by Licensee pursuant to the SOPs.</font></p>
				</td>
				<td colspan="2" valign="top" style="width:10.82%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">3</font></p>
				</td>
				<td colspan="5" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Courier &amp; Post</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:62.55pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:62.55pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:62.55pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Mail</font></p>
				</td>
				<td valign="top" style="width:46.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:62.55pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 28.8pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;text-indent: -0.5pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensee will have a separate mailbox. </font><font style="display:inline;font-size:11pt;">Delivery to the mailbox will be </font><font style="display:inline;font-size:11pt;">pursuant to the SOPS</font><font style="display:inline;font-size:11pt;"> and consistent with deliveries to Licensor internal users.</font></p>
				</td>
				<td colspan="2" valign="top" style="width:10.82%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:62.55pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:85.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:85.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">3.2</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:85.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 33.35pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Shipping &amp; Receiving</font></p>
				</td>
				<td valign="top" style="width:46.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:85.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Materials for shipping will be shipped consistent with the SOPs when delivered to the designated collection point. Materials received for Licensee will be delivered to the designated location on the 4</font><font style="display:inline;font-size:11pt;font-size:6pt;top:-4pt;position:relative;line-height:100%">th</font><font style="display:inline;font-size:11pt;"> floor according to the SOPs.</font></p>
				</td>
				<td colspan="2" valign="top" style="width:10.82%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:85.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:18.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">4</font></p>
				</td>
				<td colspan="5" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:18.00pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Utilities</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:189.75pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:189.75pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">4.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:189.75pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 3.85pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Non-</font><font style="display:inline;font-size:11pt;">telecommunicatio</font><font style="display:inline;font-size:11pt;">ns</font></p>
				</td>
				<td valign="top" style="width:46.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:189.75pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 26.4pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;text-indent: -0.5pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will pay for reasonable usage of </font><font style="display:inline;font-size:11pt;">heating, cooling, electricity and water pursuant to the Agreement.</font><font style="display:inline;font-size:11pt;"> &nbsp;Licensor will provide temperature monitoring systems twenty-four hours a day/seven days a week for the Equipment and Clean Rooms.&nbsp;&nbsp;Licensor will provide back-up electrical equipment to allow Processing and storage to continue in the event of a power outage, including backup power for all Equipment, incubators, hoods, freezers, Clean Rooms, and other ancillary equipment used by Licensee.&nbsp; </font></p>
				</td>
				<td colspan="2" valign="top" style="width:10.82%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:189.75pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:84.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:84.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">4.2</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:84.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 1.2pt 0pt 0pt;background-color: #FFFFFF;line-height:12.25pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Telecommunicatio</font><font style="display:inline;font-size:11pt;">ns</font></p>
				</td>
				<td valign="top" style="width:46.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:84.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 5.75pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;text-indent: -0.5pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will arrange for the local provider (currently Verizon) to provide phone and </font><font style="display:inline;font-size:11pt;">internet services to Licensee in the Dedicated </font><font style="display:inline;font-size:11pt;">Space. Expenses associated with set-up, </font><font style="display:inline;font-size:11pt;">usage and other costs and fees related to </font><font style="display:inline;font-size:11pt;">telecommunications services are the </font><font style="display:inline;font-size:11pt;">responsibility of Licensee.</font></p>
				</td>
				<td colspan="2" valign="top" style="width:10.82%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:84.95pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">5</font></p>
				</td>
				<td colspan="5" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Access</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;"></font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.22%;margin-left:0pt;"></table></div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;"><div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.22%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">5.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Badges</font></p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 20.9pt 0pt 0pt;background-color: #FFFFFF;line-height:12pt;text-indent: -0.5pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will provide security badges to </font><font style="display:inline;font-size:11pt;">Licensee for use by Licensee&#x2019;s employees.</font></p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">6</font></p>
				</td>
				<td colspan="4" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Parking</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">6.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.25pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Generally</font></p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 7.45pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12.25pt;text-indent:0.95pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will provide a reasonable number of </font><font style="display:inline;font-size:11pt;">parking spaces for use by Licensee.</font></p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">6.2</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.25pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Location</font></p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12pt;text-indent:0.95pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Location of parking spaces for use by Licensee </font><font style="display:inline;font-size:11pt;">will be determined by Licensor from time to time.</font></p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:36.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">7</font></p>
				</td>
				<td colspan="4" valign="top" style="width:93.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.25pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Signage</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">7.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.25pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Generally</font></p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 28.1pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12.25pt;text-indent:0.95pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will provide one sign in the </font><font style="display:inline;font-size:11pt;">immediate area of the Dedicated Space.</font></p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:24.70pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">8</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-weight:bold;font-size:11pt;">Permits</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:12.50pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:06.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:289.35pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:13.14%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:289.35pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">8.1</font></p>
				</td>
				<td valign="top" style="width:23.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:289.35pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 0pt 0pt 0.25pt;background-color: #FFFFFF;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Generally</font></p>
				</td>
				<td valign="top" style="width:46.56%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:289.35pt;padding:0pt 2.4pt;">
					<p style="margin:0pt 33.35pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12pt;text-indent:0.95pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensor will hold the following permits relevant to the Licensed Space</font><font style="display:inline;font-size:11pt;"> and Support Services</font><font style="display:inline;font-size:11pt;">:</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(a)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">FDA HCT/P Establishment Registration listing Nerve Tissue</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(b)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-size:11pt;">AATB Accreditation</font></p>
					<p style="margin:0pt 0pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12pt;font-family:Times New Roman;overflow: hidden;">
						&nbsp;</p>
					<p style="margin:0pt 0pt 0pt 0.5pt;background-color: #FFFFFF;line-height:12pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">Licensee will hold the following permits relevant to the Licensed Space: </font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(a)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">FDA HCT/P Establishment Registration listing Nerve Tissue</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(b)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">AATB Accreditation </font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(c)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of California License</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(d)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of Florida License</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(e)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of New York License</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(f)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of Maryland License</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(g)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of Delaware Registration</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(h)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of Illinois Registration</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;background-color: #FFFFFF;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(i)</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">State of Oregon Registration</font></p>
					<p style="margin:0pt 0pt 0pt 36pt;line-height:12pt;text-indent: -36pt;font-family:Times New Roman;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">(j)&nbsp;</font><font style="display:inline;font-size:11pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">Canada CTO Registration</font></p>
				</td>
				<td valign="top" style="width:10.76%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #FFFFFF;height:289.35pt;padding:0pt 2.4pt;">
					<p style="margin:0pt;background-color: #FFFFFF;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:7.02614379084967%;margin-right:7.02614379084967%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">

			&nbsp;

		</p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>axgn-20150930ex104ccc933.htm
<DESCRIPTION>EX-10.4
<TEXT>
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	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
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			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXHIBIT 10.4</font>
		</p>
		<p style="margin:0pt;text-align:right;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt 0pt 18pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;">Amendment NO. 2</font><font style="display:inline;font-weight:bold;text-decoration:underline;"> To Employment AGreement</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">This Amendment </font><font style="display:inline;">No. </font><font style="display:inline;">2</font><font style="display:inline;"> to Employment Agreement </font><font style="display:inline;">(this "</font><font style="display:inline;">Amendment</font><font style="display:inline;">") is entered into as of </font><font style="display:inline;">August 6</font><font style="display:inline;">, 201</font><font style="display:inline;">5</font><font style="display:inline;"> by and between </font><font style="display:inline;">Greg Freitag</font><font style="display:inline;"> ("</font><font style="display:inline;">Freitag</font><font style="display:inline;">") and </font><font style="display:inline;">AxoGen, Inc</font><font style="display:inline;">.</font><font style="display:inline;"> ("</font><font style="display:inline;">AxoGen</font><font style="display:inline;">").</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">WHEREAS, </font><font style="display:inline;">Freitag</font><font style="display:inline;"> and </font><font style="display:inline;">AxoGen</font><font style="display:inline;"> entered into that certain </font><font style="display:inline;">Employment Agreement dated October 1, 2011</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">(the "Agreement")</font><font style="display:inline;"> as amended May 11, 2014 (&#x201C;Amendment&#x201D;)</font><font style="display:inline;"> &nbsp;for </font><font style="display:inline;">the employment of Freitag</font><font style="display:inline;">; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">WHEREAS, </font><font style="display:inline;">Freitag</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">will </font><font style="display:inline;">assume the additional</font><font style="display:inline;"> duties</font><font style="display:inline;"> and title</font><font style="display:inline;"> as AxoGen </font><font style="display:inline;">CFO</font><font style="display:inline;">; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">WHEREAS, </font><font style="display:inline;">Freitag</font><font style="display:inline;"> and </font><font style="display:inline;">AxoGen</font><font style="display:inline;"> desire to</font><font style="display:inline;"> amend the </font><font style="display:inline;">Agreement</font><font style="display:inline;"> and </font><font style="display:inline;">cancel all terms of the </font><font style="display:inline;">Amendment</font><font style="display:inline;">,</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">upon the terms and conditions hereinafter provided</font><font style="display:inline;">;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">NOW, THEREFORE, in consideration of the foregoing and for other consideration, the receipt and sufficiency of which are hereby acknowledged, </font><font style="display:inline;">Freitag</font><font style="display:inline;"> and </font><font style="display:inline;">AxoGen</font><font style="display:inline;"> agree that the </font><font style="display:inline;">Agreement</font><font style="display:inline;"> and Amendment are</font><font style="display:inline;"> hereby amended as follows:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> 1.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the </font><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> 2.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">The Amendment is hereby terminated and of no further force or effect.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> 3.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;font-family:9999999;color:#000000;">Schedule 1, Section 1 is replaced as follows:&nbsp; </font><font style="display:inline;color:#000000;">A</font><font style="display:inline;color:#000000;">xoGen</font><font style="display:inline;color:#000000;"> hereby employs Employee as </font><font style="display:inline;color:#000000;">CFO,</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">General Counsel and Senior Vice President of Business Development</font><font style="display:inline;color:#000000;">, which title may change at A</font><font style="display:inline;color:#000000;">xoGen</font><font style="display:inline;color:#000000;">'s discretion</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;color:#000000;font-family:Times New Roman;font-size:12pt;;"> 4.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;font-family:9999999;color:#000000;">Schedule 1, Section 2. </font><font style="display:inline;font-family:9999999;color:#000000;">Will include that Emp</font><font style="display:inline;font-family:9999999;color:#000000;">loyee will additionally p</font><font style="display:inline;font-family:9999999;color:#000000;">rovide support to A</font><font style="display:inline;font-family:9999999;color:#000000;">xoGen</font><font style="display:inline;font-family:9999999;color:#000000;"> and </font><font style="display:inline;font-family:9999999;color:#000000;">Corp.</font><font style="display:inline;font-family:9999999;color:#000000;">&nbsp;</font><font style="display:inline;font-family:9999999;color:#000000;">as to legal matters and business development activity,</font><font style="display:inline;font-family:9999999;color:#000000;"> assist on all strategic and tactical matters as they relate to </font><font style="display:inline;font-family:9999999;color:#000000;">forecasting</font><font style="display:inline;font-family:9999999;color:#000000;">, financial </font><font style="display:inline;font-family:9999999;color:#000000;">structure, corporate development, investor/public relations</font><font style="display:inline;font-family:9999999;color:#000000;"> and the securing of </font><font style="display:inline;font-family:9999999;color:#000000;">additional</font><font style="display:inline;font-family:9999999;color:#000000;"> funding.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;color:#000000;font-family:Times New Roman;font-size:12pt;;"> 5.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;font-family:9999999;color:#000000;">The last sentence of </font><font style="display:inline;font-family:9999999;color:#000000;">Schedule 1, Section </font><font style="display:inline;font-family:9999999;color:#000000;">2. (d</font><font style="display:inline;font-family:9999999;color:#000000;">)</font><font style="display:inline;font-family:9999999;color:#000000;"> (i</font><font style="display:inline;font-family:9999999;color:#000000;">)</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;font-family:9999999;color:#000000;">is replaced as follows:</font><font style="display:inline;font-family:9999999;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;font-size:11pt;">Notwithstanding the forgoing, AxoGen confirms and agrees that Employee is on the Board of Directors of PDS Biotechnology Corporation, on the Foundation Board of HealthEast Care System and is a principal in FreiMc, LLC. and EmployRx, LLC.&nbsp;&nbsp;Employee hereby represents and warrants that such activity is not competitive with that of Employer and any activity associated with such organizations will not interfere with Employee&#x2019;s performance of his duties for Employer.</font><font style="display:inline;font-family:9999999;color:#000000;"> &nbsp; &nbsp;</font><font style="display:inline;font-family:9999999;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;color:#000000;font-family:Times New Roman;font-size:12pt;;"> 6.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;font-family:9999999;color:#000000;">Schedule </font><font style="display:inline;font-family:9999999;color:#000000;">2</font><font style="display:inline;font-family:9999999;color:#000000;">, Section </font><font style="display:inline;font-family:9999999;color:#000000;">1 (a) is amended to provide that Base Salary will be $285,000.</font><font style="display:inline;font-family:9999999;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:36pt;"><p style="width:36pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 22.00pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;font-family:Times New Roman;font-size:12pt;;"> 7.</font>
			</p>
		</td><td style="width:14pt;"><p style="width:14pt;width:14pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;margin:0pt 0pt 12pt;">
			<font style="display:inline;color:#000000;">As amended hereby, the </font><font style="display:inline;color:#000000;">Agreement</font><font style="display:inline;color:#000000;"> is hereby ratified and confirmed.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;font-family:Times New Roman;font-size: 12pt;"><font style="display:inline;">IN WITNESS WHEREOF, the parties hereunto have executed this </font><font style="display:inline;">Amendment</font><font style="display:inline;"> as of the date first written above.</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">FREITAG:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By: </font><font style="display:inline;">/s/ Greg Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">Gregory Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">AXOGEN:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">AXOGEN, INC</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:07.46%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">By: </font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:42.54%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:07.46%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:42.54%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">Name: Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-indent:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:07.46%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">Title: </font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:42.54%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						<font style="display:inline;">CEO</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt;">

			<font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font><font style="display:inline;font-size:10pt;"></font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>6
<FILENAME>axgn-20150930ex311674e51.htm
<DESCRIPTION>EX-31.1
<TEXT>
<!--HTML document created with Merrill Bridge  6.0.103.0-->
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<html>
	<head>
		<title>
			Ex_311
		</title>
	</head>
	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt 0pt 0pt 72pt;line-height:12pt;text-indent: -58.5pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXHIBIT 31.1</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Arial;line-height:100%;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF </font><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">THE </font><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">SARBANES-OXLEY ACT OF 2002</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:14.4pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">I, Karen Zaderej, certify that:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">1. I have reviewed this Quarterly Report on Form 10-Q of AxoGen, Inc.;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">4. The registrant&#x2019;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> a)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> b)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> c)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Evaluated the effectiveness of the registrant&#x2019;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> d)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Disclosed in this report any change in the registrant&#x2019;s internal control over financial reporting that occurred during the registrant&#x2019;s most recent fiscal quarter (the registrant&#x2019;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#x2019;s internal control over financial reporting; and</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">5. The registrant&#x2019;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#x2019;s auditors and the audit committee of the registrant&#x2019;s board of directors (or persons performing the equivalent functions):</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> a)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#x2019;s ability to record, process, summarize and report financial information; and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 40.5pt;text-indent: -26.1pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> b)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#x2019;s internal control over financial reporting.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;line-height:100%;margin-bottom:0pt;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:68.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:31.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:68.38%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Date: </font><font style="display:inline;font-size:9pt;">November 5</font><font style="display:inline;font-size:9pt;">, 201</font><font style="display:inline;font-size:9pt;">5</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:31.62%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:68.38%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:31.62%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:68.38%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:31.62%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:68.38%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:31.62%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Chief Executive Officer</font></p>
				</td>
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			<font style="display:inline;">&nbsp;</font>
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		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>7
<FILENAME>axgn-20150930ex312c8c0cf.htm
<DESCRIPTION>EX-31.2
<TEXT>
<!--HTML document created with Merrill Bridge  6.0.103.0-->
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<html>
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		<title>
			Ex_312
		</title>
	</head>
	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt;text-align:right;font-family:Arial;line-height:100%;font-size: 10pt;">
			<a name="_GoBack"></a><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;font-size:10pt;">EXHIBIT 31.2</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
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		<p style="margin:0pt -18pt 0pt 0pt;text-align:center;font-family:Arial;line-height:100%;font-size: 11pt;">
			<font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">CERTIFICATION OF PRINCIPAL FINANCIAL</font><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;"> OFFICER PURSUANT TO SECTION 302 OF </font><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">THE </font><font style="display:inline;font-family:Times New Roman;font-weight:bold;font-style:normal;">SARBANES-OXLEY ACT OF 2002</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:14.4pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">I, </font><font style="display:inline;font-size:9pt;">Gregory G. Freitag</font><font style="display:inline;font-size:9pt;">, certify that:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">1. I have reviewed this Quarterly Report on Form 10-Q of AxoGen, Inc.;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">4. The registrant&#x2019;s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> a)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being </font><font style="display:inline;font-size:9pt;color:#000000;">prepared;</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> b)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> c)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Evaluated the effectiveness of the registrant&#x2019;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> d)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Disclosed in this report any change in the registrant&#x2019;s internal control over financial reporting that occurred during the registrant&#x2019;s most recent fiscal quarter (the registrant&#x2019;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#x2019;s internal control over financial reporting; and</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">5. The registrant&#x2019;s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#x2019;s auditors and the audit committee of the registrant&#x2019;s board of directors (or persons performing the equivalent functions):</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> a)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#x2019;s ability to record, process, summarize and report financial information; and</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 40.5pt;text-indent: -26.1pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:13pt;"><p style="width:13pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 16.00pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
				<font style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size:9pt;;"> b)</font>
			</p>
		</td><td style="width:2pt;"><p style="width:2pt;width:2pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;margin:0pt;">
			<font style="display:inline;font-size:9pt;color:#000000;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#x2019;s internal control over financial reporting.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
			<font style="display:inline;font-size:9pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;line-height:100%;margin-bottom:0pt;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:50.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:50.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Date: </font><font style="display:inline;font-size:9pt;">November 5</font><font style="display:inline;font-size:9pt;">, 2015</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
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					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">/s/ </font><font style="display:inline;color:#000000;">Gregory G. Freitag</font></p>
				</td>
			</tr>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:50.00%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Gregory G. Freitag</font></p>
				</td>
			</tr>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:50.00%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Chief Financial Officer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32
<SEQUENCE>8
<FILENAME>axgn-20150930xex32.htm
<DESCRIPTION>EX-32
<TEXT>
<!--HTML document created with Merrill Bridge  6.0.103.0-->
<!--Created on: 11/5/2015 2:59:39 PM-->
<html>
	<head>
		<title>
			Ex_32
		</title>
	</head>
	<body><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p style="margin:0pt -36pt 0pt 0pt;text-align:right;border-bottom:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">EXHIBIT 32</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 11pt;">
			<font style="display:inline;font-weight:bold;font-size:11pt;">CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 (SUBSECTIONS (A) AND (B) OF SECTION 1350, CHAPTER 63 OF TITLE 18, UNITED STATES CODE)</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:13.5pt;text-align:justify;text-justify:inter-ideograph;font-family:Arial;color:#000000;line-height:100%;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman;">In connection with the Quarterly Report on Form 10-Q (the &#x201C;Report&#x201D;) of AxoGen, Inc.&nbsp;&nbsp;(the &#x201C;Company&#x201D;), Karen Zaderej, Chief Executive Officer of the Company and&nbsp; </font><font style="display:inline;font-family:Times New Roman;">Gregory G. Freitag</font><font style="display:inline;font-family:Times New Roman;">, Chief Financial Officer of the Company, each certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of her/his knowledge that:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 25.85pt;text-indent: -11.45pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">1.</font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 5pt 0pt 0pt;"></font><font style="display:inline;">The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 25.85pt;text-indent: -11.45pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">2.</font><font style="display:inline;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 5pt 0pt 0pt;"></font><font style="display:inline;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 25.85pt;text-indent: -11.45pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 4.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;line-height:100%;margin-bottom:0pt;margin-left:0pt;">
			<tr>
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					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:40.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">Dated: </font><font style="display:inline;">November 5</font><font style="display:inline;">, 2015</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">/s/ Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Karen Zaderej</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">Chief Executive Officer</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">(Principal Executive Officer)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">/s/ </font><font style="display:inline;color:#000000;">Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Gregory G. Freitag</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 36pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;color:#000000;">Chief Financial Officer</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:59.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:40.50%;padding:0pt;">
					<p style="margin:0pt 22.5pt 0pt 0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 9pt;">
						<font style="display:inline;font-size:9pt;">(Principal Financial Officer)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt;">
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end
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<DOCUMENT>
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  <axgn:NumberOfProductsUnderDevelopment contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember" unitRef="Unit14" decimals="INF">0</axgn:NumberOfProductsUnderDevelopment>
  <axgn:ObligationUnderRoyaltyContract contextRef="As_Of_9_30_2015_dei_LegalEntityAxis_axgn_PDLEquitySaleMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember" unitRef="Unit13" decimals="-5">0</axgn:ObligationUnderRoyaltyContract>
  <axgn:PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement contextRef="As_Of_11_4_2015_us-gaap_CounterpartyNameAxis_axgn_SensoryManagementServicesLlcMember_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" unitRef="Unit13" decimals="0">15000</axgn:PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement>
  <axgn:PaymentToExtinguishRoyaltyContract contextRef="Duration_11_12_2014_To_11_12_2014_dei_LegalEntityAxis_axgn_PDLEquitySaleMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember" unitRef="Unit13" decimals="-5">30300000</axgn:PaymentToExtinguishRoyaltyContract>
  <axgn:PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="Unit1" decimals="4">0.0375</axgn:PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors>
  <axgn:PriorDevelopmentFeesPayable contextRef="As_Of_11_4_2015_us-gaap_CounterpartyNameAxis_axgn_SensoryManagementServicesLlcMember_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MaximumMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" unitRef="Unit13" decimals="0">39500</axgn:PriorDevelopmentFeesPayable>
  <axgn:ProceedsFromIssuanceOfCommonStockGross contextRef="Duration_2_13_2015_To_2_13_2015_us-gaap_SubsidiarySaleOfStockAxis_axgn_IPOAndOverAllotmentOptionMember" unitRef="Unit13" decimals="-5">15000000</axgn:ProceedsFromIssuanceOfCommonStockGross>
  <axgn:ProceedsFromIssuanceOfCommonStockGross contextRef="Duration_8_26_2015_To_8_26_2015_dei_LegalEntityAxis_axgn_EssexWoodlandsFundIxL.p.Member_us-gaap_SubsidiarySaleOfStockAxis_axgn_SecuritiesPurchaseAgreementMember" unitRef="Unit13" decimals="-5">17200000</axgn:ProceedsFromIssuanceOfCommonStockGross>
  <axgn:PutOptionRequiredInternalRateOfReturnPercentage contextRef="As_Of_12_31_2014_dei_LegalEntityAxis_axgn_PDLEquitySaleMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember" unitRef="Unit1" decimals="2">0.20</axgn:PutOptionRequiredInternalRateOfReturnPercentage>
  <axgn:ReserveForAccountsReceivableDeemedUncollectiblePercentage contextRef="As_Of_9_30_2015" unitRef="Unit1" decimals="INF">1</axgn:ReserveForAccountsReceivableDeemedUncollectiblePercentage>
  <axgn:RoyaltyFeesPercentageUnderLicenseAgreements contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="Unit1" decimals="2">0.03</axgn:RoyaltyFeesPercentageUnderLicenseAgreements>
  <axgn:RoyaltyFeesPercentageUnderLicenseAgreements contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MinimumMember" unitRef="Unit1" decimals="2">0.01</axgn:RoyaltyFeesPercentageUnderLicenseAgreements>
  <axgn:RoyaltyFeesPercentageUnderLicenseAgreements contextRef="Duration_11_4_2015_To_11_4_2015_us-gaap_CounterpartyNameAxis_axgn_SensoryManagementServicesLlcMember_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" unitRef="Unit1" decimals="2">0.15</axgn:RoyaltyFeesPercentageUnderLicenseAgreements>
  <axgn:RoyaltyPercentageOfNetRevenue contextRef="As_Of_10_5_2012_dei_LegalEntityAxis_axgn_PDLEquitySaleMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember" unitRef="Unit1" decimals="INF">0.0995</axgn:RoyaltyPercentageOfNetRevenue>
  <axgn:RoyaltyPercentageOfNetRevenue contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember" unitRef="Unit1" decimals="INF">0.0375</axgn:RoyaltyPercentageOfNetRevenue>
  <axgn:RoyaltyPercentageOfNetRevenue contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="Unit1" decimals="INF">0.048</axgn:RoyaltyPercentageOfNetRevenue>
  <axgn:TermOfAgreement contextRef="Duration_4_21_2015_To_4_21_2015_us-gaap_LeaseArrangementTypeAxis_axgn_JaColeMember">P3Y</axgn:TermOfAgreement>
  <axgn:TermOfAgreement contextRef="Duration_8_6_2015_To_8_6_2015_us-gaap_TypeOfArrangementAxis_axgn_LicenseAndServicesAgreementMember">P5Y</axgn:TermOfAgreement>
  <axgn:UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit1" decimals="INF">0.03</axgn:UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed>
  <axgn:UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit1" decimals="INF">0.1625</axgn:UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate>
  <axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit1" decimals="INF">1.35</axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate>
  <axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit1" decimals="INF">1.5</axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate>
  <axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit1" decimals="INF">1.2</axgn:UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate>
  <dei:AmendmentFlag contextRef="Duration_1_1_2015_To_9_30_2015">false</dei:AmendmentFlag>
  <dei:CurrentFiscalYearEndDate contextRef="Duration_1_1_2015_To_9_30_2015">--12-31</dei:CurrentFiscalYearEndDate>
  <dei:DocumentFiscalPeriodFocus contextRef="Duration_1_1_2015_To_9_30_2015">Q3</dei:DocumentFiscalPeriodFocus>
  <dei:DocumentFiscalYearFocus contextRef="Duration_1_1_2015_To_9_30_2015">2015</dei:DocumentFiscalYearFocus>
  <dei:DocumentPeriodEndDate contextRef="Duration_1_1_2015_To_9_30_2015">2015-09-30</dei:DocumentPeriodEndDate>
  <dei:DocumentType contextRef="Duration_1_1_2015_To_9_30_2015">10-Q</dei:DocumentType>
  <dei:EntityCentralIndexKey contextRef="Duration_1_1_2015_To_9_30_2015">0000805928</dei:EntityCentralIndexKey>
  <dei:EntityCommonStockSharesOutstanding contextRef="As_Of_11_4_2015" unitRef="Unit15" decimals="INF">29885688</dei:EntityCommonStockSharesOutstanding>
  <dei:EntityCurrentReportingStatus contextRef="Duration_1_1_2015_To_9_30_2015">Yes</dei:EntityCurrentReportingStatus>
  <dei:EntityFilerCategory contextRef="Duration_1_1_2015_To_9_30_2015">Smaller Reporting Company</dei:EntityFilerCategory>
  <dei:EntityRegistrantName contextRef="Duration_1_1_2015_To_9_30_2015">AxoGen, Inc.</dei:EntityRegistrantName>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">2431194</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">4086307</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;6.&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Accounts Payable and Accrued Expenses&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Accounts payable and accrued expenses consists of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December&amp;nbsp;31,&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,640,811
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,160,859
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Miscellaneous accruals&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;963,984
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;105,315
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Accrued compensation&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,481,512
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,165,020
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Accounts Payable and Accrued Expenses&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4,086,307
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,431,194
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;"&gt;
			&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:AccountsPayableCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">1160859</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">1640811</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsReceivableNetCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">2872308</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccountsReceivableNetCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">4642802</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:AccruedSalariesCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">1165020</us-gaap:AccruedSalariesCurrent>
  <us-gaap:AccruedSalariesCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">1481512</us-gaap:AccruedSalariesCurrent>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">1735205</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">1877244</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:AdditionalPaidInCapitalCommonStock contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">78675686</us-gaap:AdditionalPaidInCapitalCommonStock>
  <us-gaap:AdditionalPaidInCapitalCommonStock contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">110738708</us-gaap:AdditionalPaidInCapitalCommonStock>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">94000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">166000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
  <us-gaap:AmortizationOfFinancingCosts contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">158648</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:AmortizationOfFinancingCosts contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">96375</us-gaap:AmortizationOfFinancingCosts>
  <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">158648</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
  <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">55217</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
  <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">96375</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
  <us-gaap:AmortizationOfFinancingCostsAndDiscounts contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">31419</us-gaap:AmortizationOfFinancingCostsAndDiscounts>
  <us-gaap:AmortizationOfIntangibleAssets contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">33468</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AmortizationOfIntangibleAssets contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="INF">11000</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AmortizationOfIntangibleAssets contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">34009</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AmortizationOfIntangibleAssets contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="INF">11000</us-gaap:AmortizationOfIntangibleAssets>
  <us-gaap:AreaOfRealEstateProperty contextRef="As_Of_4_21_2015_us-gaap_LeaseArrangementTypeAxis_axgn_JaColeMember" unitRef="Unit12" decimals="INF">5400</us-gaap:AreaOfRealEstateProperty>
  <us-gaap:Assets contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">16400789</us-gaap:Assets>
  <us-gaap:Assets contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">40912952</us-gaap:Assets>
  <us-gaap:AssetsCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">14411088</us-gaap:AssetsCurrent>
  <us-gaap:AssetsCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">38570255</us-gaap:AssetsCurrent>
  <us-gaap:BasisOfAccounting contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;1.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Basis of Presentation &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The accompanying condensed consolidated financial statements include the accounts of AxoGen, Inc. (the &amp;#x201C;Company&amp;#x201D; or &amp;#x201C;AxoGen&amp;#x201D;) and its wholly owned subsidiary AxoGen Corporation (&amp;#x201C;AC&amp;#x201D;)&amp;nbsp;&amp;nbsp;as of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and December 31, 2014 and for the three and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; month periods ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014.&amp;nbsp;&amp;nbsp;The Company&amp;#x2019;s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;(&amp;#x201C;GAAP&amp;#x201D;) &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;and should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2014, which are included in the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Company&amp;#x2019;s &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Annual Report on Form 10-K as of and for the year ended December 31, 2014.&amp;nbsp;&amp;nbsp;The interim condensed consolidated financial statements are unaudited and in the opinion of management, reflect all adjustments necessary for a fair presentation of results for the periods presented.&amp;nbsp;&amp;nbsp;Results for interim periods are not necessarily indicative of results for the full year. All significant intercompany accounts and transactions have been eliminated in consolidation.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:BasisOfAccounting>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="As_Of_12_31_2013" unitRef="Unit13" decimals="0">20069750</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="As_Of_9_30_2014" unitRef="Unit13" decimals="0">11802608</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">8215791</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">29935467</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">-8267142</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">21719676</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Cash and Cash Equivalents and Concentration&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances and does not believe it is exposed to any significant credit risk on cash and cash equivalents.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;10.&amp;nbsp;&amp;nbsp;Commitments and Contingencies&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;"&gt;Commercial Lease&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On April 21, 2015, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; entered into a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;c&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ommercial &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;l&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ease (the &amp;#x201C;New Lease&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;with Ja-Cole, L.P. &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;(&amp;#x201C;Ja-Cole&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;for property located in Burleson, Texas. The New Lease supersedes and replaces a current lease with Ja-Cole. Under the terms of the New Lease, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; leased an additional &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2,100&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; square feet of warehouse space that will be combined with its current &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;5,400&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; square feet of warehouse/office space in Burleson, Texas.&amp;nbsp;&amp;nbsp;&amp;nbsp;The New Lease is for a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;three&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year term expiring April 21, 2018, renewable thereafter by agreement of the parties, at an annual cost of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$60,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per year.&amp;nbsp;&amp;nbsp;The expanded Burleson facility will house raw material storage and product distribution and allow expansion space as required for &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; operations. &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;"&gt;Processing Agreement&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Under an Amended and Restated Nerve Tissue Processing Agreement (the &amp;#x201C;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;LifeNet &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Agreement&amp;#x201D;) with LifeNet Health&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; (&amp;#x201C;LifeNet&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, &amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the Company&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; processes and packages Avance&amp;#xAE; Nerve Graft using its employees and equipment located at LifeNet, Virginia Beach, Virginia.&amp;nbsp;&amp;nbsp;As a result of business requirements of LifeNet and their need for additional space&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, &amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;on April 16, 2015 &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;LifeNet&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; notified &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the Company&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; that it will need to transition out of the Virginia Beach facility on or before February 27, 2016 and therefore is terminating the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;LifeNet &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Agreement effective February 27, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2016.&amp;nbsp;&amp;nbsp; &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;A&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;s a result of the termination of the LifeNet Agreement, on August 6, 2015 the Company entered into a License and Services Agreement (the &amp;#x201C;CTS Agreement&amp;#x201D;) with&amp;nbsp;Community Blood Center&amp;nbsp;(d/b/a Community Tissue Services) (&amp;#x201C;CTS&amp;#x201D;) whose headquarters are located in Dayton, Ohio.&amp;nbsp;&amp;nbsp;The CTS facility and CTS Agreement will provide the Company a cost effective, quality controlled and licensed facility&amp;nbsp;to process and package its Avance&amp;#xAE; Nerve Graft using its employees and processing equipment.&amp;nbsp;&amp;nbsp;It is anticipated that processing currently being performed at LifeNet will be transferred completely to the CTS facility by the end of first quarter of 2016&amp;nbsp;&amp;nbsp;It is anticipated that the Company will have approximately &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$400,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; of capital expenditures for the placement of equipment and build-out at this facility.&amp;nbsp; &amp;nbsp; &amp;nbsp; &amp;nbsp; &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp; &amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The CTS Agreement is for a &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;five&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; year term, subject to earlier termination by either party for cause, or after the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;two&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; year anniversary of the CTS Agreement without cause, upon &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;180&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days&amp;#x2019; notice.&amp;nbsp;Under the CTS Agreement, the Company pays CTS a facility fee for clean room/processing, storage and office space.&amp;nbsp;&amp;nbsp;Under the CTS Agreement, CTS also provides services in support of the Company&amp;#x2019;s processing such as routine sterilization of daily supplies, providing disposable supplies, microbial services and office support.&amp;nbsp;&amp;nbsp;The service fee is based on a per donor batch rate.&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
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  <us-gaap:CostOfGoodsSold contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1410416</us-gaap:CostOfGoodsSold>
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		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;8.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Stock Options &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The Company granted stock options to purchase &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;376,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; pursuant to &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the AxoGen&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; Plan for the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015.&amp;nbsp;&amp;nbsp;Stock-based compensation expense was &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$334,593&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$227,553&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the three months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$1,031,218&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$701,697&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively. &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;During the quarter, the company granted stock options to purchase &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;108,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of Common Stock that are contingent upon certain future events.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;No&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; stock compensation expense has been recorded for these options due to the uncertainty of those future events.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Total future stock compensation expense related to nonvested awards is expected to be approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2,046,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit16" decimals="2">-0.64</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit16" decimals="2">-0.19</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit16" decimals="2">-0.39</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit16" decimals="2">-0.11</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">2046000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:ExpenseRelatedToDistributionOrServicingAndUnderwritingFees contextRef="Duration_2_13_2015_To_2_13_2015_us-gaap_SubsidiarySaleOfStockAxis_axgn_IPOAndOverAllotmentOptionMember" unitRef="Unit13" decimals="-5">1400000</us-gaap:ExpenseRelatedToDistributionOrServicingAndUnderwritingFees>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Fair Value of Financial Instruments&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair value of the Company&amp;#x2019;s long-term debt approximates its carrying value based upon current rates available to the Company.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">353681</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
  <us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">387690</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">48000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">14000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">48000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFive>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">48000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">48000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree>
  <us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">48000</us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo>
  <us-gaap:FiniteLivedIntangibleAssetsGross contextRef="As_Of_12_31_2014_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember" unitRef="Unit13" decimals="INF">850859</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross contextRef="As_Of_12_31_2014_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_PatentsMember" unitRef="Unit13" decimals="INF">79996</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross contextRef="As_Of_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember" unitRef="Unit13" decimals="INF">876063</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsGross contextRef="As_Of_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_PatentsMember" unitRef="Unit13" decimals="INF">146976</us-gaap:FiniteLivedIntangibleAssetsGross>
  <us-gaap:FiniteLivedIntangibleAssetsNet contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">577174</us-gaap:FiniteLivedIntangibleAssetsNet>
  <us-gaap:FiniteLivedIntangibleAssetsNet contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">635349</us-gaap:FiniteLivedIntangibleAssetsNet>
  <us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_PatentsMember">P3Y</us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1>
  <us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MaximumMember">P20Y</us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1>
  <us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_RangeAxis_us-gaap_MinimumMember">P17Y</us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1>
  <us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1 contextRef="Duration_11_4_2015_To_11_4_2015_us-gaap_CounterpartyNameAxis_axgn_SensoryManagementServicesLlcMember_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_LicensingAgreementsMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">P10Y</us-gaap:FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">5254082</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">1645859</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">6103058</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">2212457</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GrossProfit contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">9538490</us-gaap:GrossProfit>
  <us-gaap:GrossProfit contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">3775162</us-gaap:GrossProfit>
  <us-gaap:GrossProfit contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">16089106</us-gaap:GrossProfit>
  <us-gaap:GrossProfit contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">6743259</us-gaap:GrossProfit>
  <us-gaap:IncomeTaxPolicyTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Income Taxes&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company has not recorded current income tax expense due to the generation of net operating losses. Deferred income taxes are accounted for using the balance sheet approach which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section&amp;nbsp;382 as a result of changes in ownership.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company&amp;#x2019;s remaining open tax years subject to examination by the Internal Revenue Service include the years ended December 31, 2011 through 2014; there currently are no examinations in process.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">-63848</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1655114</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">849342</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1770494</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">-10714</us-gaap:IncreaseDecreaseInDeferredRevenue>
  <us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">-16187</us-gaap:IncreaseDecreaseInDeferredRevenue>
  <us-gaap:IncreaseDecreaseInInventories contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">-52323</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:IncreaseDecreaseInInventories contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">488135</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">-195796</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">180862</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:IntangibleAssetsDisclosureTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;5.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Intangible Assets &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The Company&amp;#x2019;s intangible assets consist of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;License agreements&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;876,063
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;850,859
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Patents&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;146,976
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;79,996
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Less: accumulated amortization&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(387,690)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(353,681)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Intangible assets, net&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;635,349
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;577,174
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;License agreements are being amortized over periods ranging from &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;17&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;-&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;20&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; years. Patent costs were being amortized over &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;three&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; years. As of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September 30, 2015&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, the patents were fully amortized, and the remaining patents of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$146,976&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; were pending patent costs and were not amortizable. Amortization expense was approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$11,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$11,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the three months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;,&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;34&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;33&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively. As of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015, future amortization of license agreements&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the next five years&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; is expected to be &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$14,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the remainder of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2015&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;and&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$48,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2016&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;through&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2020&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;"&gt;License Agreements&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The Company has entered into multiple license agreements (the &amp;#x201C;License Agreements&amp;#x201D;) with the University of Florida Research Foundation (&amp;#x201C;UFRF&amp;#x201D;) and University of Texas at Austin (&amp;#x201C;UTA&amp;#x201D;). Under the terms of the License Agreements, the Company acquired exclusive worldwide licenses for underlying technology used in repairing and regenerating nerves. The licensed technologies include the rights to issued patents and patents pending in the United States and international markets. The effective term of the License Agreements extends through the term of the related patents and the agreements may be terminated by the Company with &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;60&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; days prior written notice. Additionally, in the event of default, licensors may terminate an agreement if the Company fails to cure a breach after written notice. The License Agreements contain the key terms listed below:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%"&gt;&lt;table style="width:100%;" cellpadding="0" cellspacing="0"&gt;&lt;tr&gt;&lt;td style="width:18pt;"&gt;&lt;p style="width:18pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td valign="top" align="left" style="width: 18.00pt; display: inline;"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
				&lt;font style="margin:0pt;font-family:Symbol;font-size:10pt;;"&gt; &amp;#xB7;&lt;/font&gt;
			&lt;/p&gt;
		&lt;/td&gt;&lt;td style="width:0pt;"&gt;&lt;p style="width:0pt;width:0pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td align="left" valign="top"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;AxoGen pays royalty fees ranging from &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;1%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt; to &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;3%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt; under the License Agreements based on net sales of licensed products.&amp;nbsp;One of the agreements also contains a minimum royalty of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;$12,500&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt; per quarter, which may include a credit in future quarters in the same calendar year for the amount the minimum royalty exceeds the royalty fees.&amp;nbsp;Also, when AxoGen pays royalties to more than one licensor for sales of the same product, a royalty stack cap applies, capping total royalties at &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;3.75%;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%"&gt;&lt;table style="width:100%;" cellpadding="0" cellspacing="0"&gt;&lt;tr&gt;&lt;td style="width:18pt;"&gt;&lt;p style="width:18pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td valign="top" align="left" style="width: 18.00pt; display: inline;"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
				&lt;font style="margin:0pt;font-family:Symbol;font-size:10pt;;"&gt; &amp;#xB7;&lt;/font&gt;
			&lt;/p&gt;
		&lt;/td&gt;&lt;td style="width:0pt;"&gt;&lt;p style="width:0pt;width:0pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td align="left" valign="top"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;If AxoGen sublicenses technologies covered by the License Agreements to third parties, AxoGen would pay a percentage of sublicense fees received from the third party to the licensor.&amp;nbsp;Currently, AxoGen does not sublicense any technologies covered by License Agreements. The Company is not considered a sub-licensee under the License Agreements and does not owe any sublicensee fees for its own use of the technologies; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%"&gt;&lt;table style="width:100%;" cellpadding="0" cellspacing="0"&gt;&lt;tr&gt;&lt;td style="width:18pt;"&gt;&lt;p style="width:18pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td valign="top" align="left" style="width: 18.00pt; display: inline;"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
				&lt;font style="margin:0pt;font-family:Symbol;font-size:10pt;;"&gt; &amp;#xB7;&lt;/font&gt;
			&lt;/p&gt;
		&lt;/td&gt;&lt;td style="width:0pt;"&gt;&lt;p style="width:0pt;width:0pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td align="left" valign="top"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;AxoGen reimburses the licensors for certain legal expenses incurred for patent prosecution and defense of the technologies covered by the License Agreements; and &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%"&gt;&lt;table style="width:100%;" cellpadding="0" cellspacing="0"&gt;&lt;tr&gt;&lt;td style="width:18pt;"&gt;&lt;p style="width:18pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td valign="top" align="left" style="width: 18.00pt; display: inline;"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
				&lt;font style="margin:0pt;font-family:Symbol;font-size:10pt;;"&gt; &amp;#xB7;&lt;/font&gt;
			&lt;/p&gt;
		&lt;/td&gt;&lt;td style="width:0pt;"&gt;&lt;p style="width:0pt;width:0pt;font-size:0pt;"&gt;&lt;/p&gt;&lt;/td&gt;&lt;td align="left" valign="top"&gt;
			&lt;p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;Currently, under one of the License Agreements, AxoGen would owe a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;$15,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt; milestone fee upon receiving a Phase II Small Business Innovation Research or Phase II Small Business Technology Transfer grant involving the licensed technology. The Company has not received either grant and does not owe such a milestone fee.&amp;nbsp;Other milestone fees are due if AxoGen develops certain pharmaceutical or medical device products under the License Agreements. &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt;No&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;color:#000000;"&gt; such products are currently under development.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Royalty fees were &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$162,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$93,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; during the three months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;,&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and were &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$379,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$238,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; 30, 2015 and 2014, respectively, and are included in sales and marketing expense on the accompanying condensed consolidated statements of operations.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:IntangibleAssetsDisclosureTextBlock>
  <us-gaap:InterestExpense contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">3963885</us-gaap:InterestExpense>
  <us-gaap:InterestExpense contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">1380470</us-gaap:InterestExpense>
  <us-gaap:InterestExpense contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">3060779</us-gaap:InterestExpense>
  <us-gaap:InterestExpense contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1042258</us-gaap:InterestExpense>
  <us-gaap:InterestExpense contextRef="Duration_7_1_2015_To_9_30_2015_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit13" decimals="0">625000</us-gaap:InterestExpense>
  <us-gaap:InterestPaid contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">1154738</us-gaap:InterestPaid>
  <us-gaap:InterestPaid contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1949381</us-gaap:InterestPaid>
  <us-gaap:InterestPaid contextRef="Duration_10_9_2015_To_10_9_2015_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit13" decimals="0">625000</us-gaap:InterestPaid>
  <us-gaap:InventoryFinishedGoodsNetOfReserves contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">2072235</us-gaap:InventoryFinishedGoodsNetOfReserves>
  <us-gaap:InventoryFinishedGoodsNetOfReserves contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">2573348</us-gaap:InventoryFinishedGoodsNetOfReserves>
  <us-gaap:InventoryNet contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">3213620</us-gaap:InventoryNet>
  <us-gaap:InventoryNet contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">3701755</us-gaap:InventoryNet>
  <us-gaap:InventoryPolicyTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Inventories&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Inventories are comprised of implantable tissue, nerve grafts, Avance&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Graft, AxoGuard&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Connector, AxoGuard&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Finished goods&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,573,348
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,072,235
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Work in process&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;230,478
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;331,891
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Raw materials&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;897,929
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;809,494
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,701,755
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,213,620
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Inventories were net of reserve of approximately &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$618,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$404,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and December&amp;nbsp;31, 2014, respectively.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <us-gaap:InventoryRawMaterialsNetOfReserves contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">809494</us-gaap:InventoryRawMaterialsNetOfReserves>
  <us-gaap:InventoryRawMaterialsNetOfReserves contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">897929</us-gaap:InventoryRawMaterialsNetOfReserves>
  <us-gaap:InventoryValuationReserves contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">404000</us-gaap:InventoryValuationReserves>
  <us-gaap:InventoryValuationReserves contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">618000</us-gaap:InventoryValuationReserves>
  <us-gaap:InventoryWorkInProcessNetOfReserves contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="INF">331891</us-gaap:InventoryWorkInProcessNetOfReserves>
  <us-gaap:InventoryWorkInProcessNetOfReserves contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="INF">230478</us-gaap:InventoryWorkInProcessNetOfReserves>
  <us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">60125</us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims>
  <us-gaap:LeaseAndRentalExpense contextRef="Duration_4_21_2015_To_4_21_2015_us-gaap_LeaseArrangementTypeAxis_axgn_JaColeMember" unitRef="Unit13" decimals="INF">60000</us-gaap:LeaseAndRentalExpense>
  <us-gaap:Liabilities contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">27646469</us-gaap:Liabilities>
  <us-gaap:Liabilities contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">29736985</us-gaap:Liabilities>
  <us-gaap:LiabilitiesAndStockholdersEquity contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">16400789</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:LiabilitiesAndStockholdersEquity contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">40912952</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:LiabilitiesCurrent contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">2445312</us-gaap:LiabilitiesCurrent>
  <us-gaap:LiabilitiesCurrent contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">4100425</us-gaap:LiabilitiesCurrent>
  <us-gaap:LongTermDebtNoncurrent contextRef="As_Of_12_31_2014_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanAndRevenueInterestPurchaseAgreementMember" unitRef="Unit13" decimals="INF">25085777</us-gaap:LongTermDebtNoncurrent>
  <us-gaap:LongTermDebtNoncurrent contextRef="As_Of_12_31_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit13" decimals="INF">25085777</us-gaap:LongTermDebtNoncurrent>
  <us-gaap:LongTermDebtNoncurrent contextRef="As_Of_9_30_2015_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanAndRevenueInterestPurchaseAgreementMember" unitRef="Unit13" decimals="INF">25537367</us-gaap:LongTermDebtNoncurrent>
  <us-gaap:LongTermDebtNoncurrent contextRef="As_Of_9_30_2015_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_TermLoanMember" unitRef="Unit13" decimals="INF">25537367</us-gaap:LongTermDebtNoncurrent>
  <us-gaap:LongTermDebtTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;7.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Notes Payable&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Notes Payable consists of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Term Loan and Revenue Interest Agreement with Three Peaks Capital S.a.r.l. (&amp;#x201C;Three Peaks&amp;#x201D;) for a total term loan amount of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$25,000,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; which has a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;six&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;9.00%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per annum plus the greater of LIBOR or &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;1.0%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; which as of September 30, 2015 and December 31, 2014 resulted in a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;10%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; rate. The Revenue Interest Agreement is for a period of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ten&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; years. Royalty payments are based on a royalty rate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;3.75%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of revenues up to a maximum of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$30&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million in revenues in any &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;12&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; month period.&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,537,367
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,085,777
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Long-term portion&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,537,367
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,085,777
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;"&gt;Note Payable&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On October 5, 2012, AxoGen entered into a Revenue Interests Purchase Agreement (the &amp;#x201C;Royalty Contract&amp;#x201D;) with PDL BioPharma, Inc. (&amp;#x201C;PDL&amp;#x201D;), pursuant to which the Company sold to PDL the right to receive royalties equal to &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;9.95%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the Company&amp;#x2019;s Net Revenues (as defined in the Royalty Contract) generated by the sale, distribution or other use of AxoGen&amp;#x2019;s products Avance&amp;#xAE; Nerve Graft, AxoGuard&amp;#xAE; Nerve Connector and AxoGuard&amp;#xAE; Nerve Protector.&amp;nbsp;&amp;nbsp;The Royalty Contract had a term of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;eight&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; years. Under the Royalty Contract, PDL received royalty payments based on a royalty rate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;9.95%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the Company&amp;#x2019;s Net Revenues, subject to certain agreed upon minimum payment requirements, which were anticipated to be approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$1.3&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;million &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;to &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2.5&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million per quarter to begin in the fourth quarter of 2014 through the third quarter of 2020 as provided in the Royalty Contract. The Company recorded interest using its best estimate of the effective interest rate accruing interest using the specified internal rate of return of the Put Option of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;20%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;.&amp;nbsp;&amp;nbsp;The total consideration PDL paid to the Company was &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$20,800,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; (the &amp;#x201C;Funded Amount&amp;#x201D;), which included &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$19,050,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; PDL paid to the Company on October&amp;nbsp;5, 2012, and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$1,750,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; PDL paid to the Company on August 14, 2012 pursuant to an Interim Revenue Interest Purchase Agreement between the Company and PDL, dated August 14, 2012 (the &amp;#x201C;Interim Royalty Contract&amp;#x201D;). Upon the closing (the &amp;#x201C;Closing&amp;#x201D;) of PDL&amp;#x2019;s purchase of the specified royalties described above, which was concurrent with the execution of the Royalty Contract, the Interim Royalty Contract was terminated. On November 12, 2014, the Company paid PDL &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$30.3&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million to fully extinguish the Royalty Contract.&amp;nbsp;&amp;nbsp;The Company has &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;no&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; further obligations under the Royalty Contract.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On November 12, 2014, the Company sold &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;643,382&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; for a total of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$1.75&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million to PDL (&amp;#x201C;PDL Equity Sale&amp;#x201D;) at a price of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2.72&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per share pursuant to a Securities Purchase Agreement by and between the Company and PDL.&amp;nbsp;&amp;nbsp;The Company intends to use the proceeds from the PDL Equity Sale for general corporate purposes.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Term Loan Agreement and Revenue Interest Agreement&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On November 12, 2014, (the &amp;#x201C;Signing Date&amp;#x201D;), AxoGen, as borrower, and AC, as guarantor, entered into a term loan agreement (the &amp;#x201C;Term Loan Agreement&amp;#x201D;) with the lenders party thereto and Three Peaks Capital S.a.r.l. (&amp;#x201C;Three Peaks&amp;#x201D;), an indirect wholly-owned subsidiary of Oberland Capital Healthcare Master Fund LP (&amp;#x201C;Oberland&amp;#x201D;), as administrative and collateral agent for the lenders&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; thereto&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;. Under the Term Loan Agreement, Three Peaks has agreed to lend to AxoGen a term loan of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$25&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million (the &amp;#x201C;Initial Term Loan&amp;#x201D;) which has a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;six&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;9.00%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per annum plus the greater of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;LIBOR&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; or &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;1.0%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; which as of November 13, 2014 (&amp;#x201C;the Initial Closing Date&amp;#x201D;) resulted in a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;10%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;interest &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;rate. &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;As of September 30, 2015 the Company has accrued &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$625,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; due for the third quarter interest which was paid on &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;October 9, 2015&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;.&amp;nbsp;&amp;nbsp;The amount is included in accrued expenses at September 30, 2015.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Under certain conditions, AxoGen has the option to draw an additional &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$7&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million (&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;#x201C;Subsequent Borrowing&amp;#x201D; and, together with the Initial Term Loan, the &amp;#x201C;Term Loan&amp;#x201D;) during the period of April 1, 2016 through June 29, 2016 (the closing date of each such Subsequent Borrowing, a (&amp;#x201C;Subsequent Closing Date&amp;#x201D; and, together with the Initial Closing Date, the &amp;#x201C;Closing Dates&amp;#x201D;) under similar terms and conditions. AxoGen has to maintain certain covenants including limiting new indebtedness, restriction of the payment of dividends and maintain certain levels of revenue. Three Peaks has a first perfected security interest in the assets of AxoGen.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;In addition, AxoGen entered into a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;10&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year Revenue Interest Agreement (&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;#x201C;Revenue Interest Agreement&amp;#x201D;) with Three Peaks. Royalty payments are based on a royalty rate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;3.75%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of AxoGen&amp;#x2019;s revenues up to a maximum of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$30&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million in revenues in any 12 month period. In the event the Subsequent Borrowing is drawn, the royalty rate increases proportionally up to a maximum of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;4.80%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;nbsp;AxoGen has to maintain certain covenants including those covenants under the Term Loan.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Under the Term Loan Agreement, AxoGen has the option at any time to prepay the Term Loan, in whole or in part, and the Royalty Interest Agreement, defined below, by making the following payment, and Three Peaks has the right to demand the following payment upon a change of control of AxoGen, sale of the majority of AxoGen&amp;#x2019;s assets or a material adverse change to AxoGen: (i) on or prior to the first anniversary of the applicable Closing Date, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;120%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the outstanding principal amount of the Term Loan or any portion being prepaid; (ii) after the first anniversary but no later than the second anniversary of the applicable Closing Date, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;135%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the outstanding principal amount of the Term Loan or any portion being prepaid; (iii) after the second anniversary but no later than the third anniversary of the applicable Closing Date, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;150%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the outstanding principal amount of the Term Loan or any portion being prepaid; or (iv) after the third anniversary of the applicable Closing Date, an amount generating an &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;i&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nternal &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;r&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;r&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;eturn of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;16.25%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the outstanding principal amount of the Term Loan or any portion being prepaid. In all cases, the amount due is reduced by the sum of interest and principal previously paid and all amounts received under the Revenue Interest Agreement. In each such case AxoGen will also owe an additional &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;3%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of the originally advanced Term Loan amount. Upon payment to Three Peaks, AxoGen would have no further obligations to Three Peaks under the Term Loan or the Revenue Interest Agreement.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;In connection with the Term Loan Agreement, on the Signing Date, the Company and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;AC, &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;its wholly owned subsidiary, entered into a Security Agreement (the &amp;#x201C;Security Agreement&amp;#x201D;) with Three Peaks, pursuant to which each of the Company and AC grants to Three Peaks a security interest in certain collateral as specified in the Security Agreement to guarantee the payment in full when due of the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;s&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ecured &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;o&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;bligations.&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;In the event of default per the terms of the Term Loan Agreement Three Peaks would have the ability to foreclose on the pledged collateral and the Company and AC would not be able to continue its current business if such foreclosure occurred.&amp;nbsp;&amp;nbsp; &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Also in connection with the above transaction, the Company sold &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;1,375,969&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; to Three Peaks for a total of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$3.55&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million (&amp;#x201C;Three Peaks Equity Sale&amp;#x201D;) at a price of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2.58&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per share.&amp;nbsp;&amp;nbsp;Pursuant to the equity purchase provisions in the Three Peaks Term Loan Agreement, in the event that prior to November 12, 2016&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, we sell&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; our securities at a lower price per share than the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2.58&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per share paid by Three Peaks, or where the terms of such subsequent sale are otherwise more favorable, then in such case we have agreed to match the more favorable terms of such subsequent sale with respect to the shares purchased by Three Peaks. A subsequent sale does not include the issuance of securities or options to our employees, officers, directors or consultants pursuant to our approved employee option pool or any other employee stock purchase or option plan existing as of November 12, 2014.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The Company records interest using its best estimate of the effective interest rate.&amp;nbsp;&amp;nbsp;This estimate takes into account both the rate on the Term Loan Agreement and the rate associated with the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;10&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year Revenue Interest Agreement with Three Peaks.&amp;nbsp;&amp;nbsp;The effective interest rate is based on actual payments to date, projected future revenues and the projected royalty payments and the quarterly interest payments due on the Term Loan Agreement.&amp;nbsp;&amp;nbsp;From time to time, AxoGen will reevaluate the expected cash flows and may adjust the effective interest rate.&amp;nbsp;&amp;nbsp;Determining the effective interest rate requires judgment and is based on significant assumptions related to estimates of the amounts and timing of future revenue streams.&amp;nbsp;&amp;nbsp;Determination of these assumptions is highly subjective and different assumptions could lead to materially different outcomes.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
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  <us-gaap:NatureOfOperations contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;2.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Organization and Business&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;"&gt;Business Summary&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;AxoGen is a leading medical technology company dedicated to peripheral nerve repair. The company has created and licensed a unique combination of patented nerve repair technologies to change the standard of care for patients with peripheral nerve injuries. AxoGen&amp;#x2019;s portfolio of regenerative medicine products is available in the United States, Canada and several &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;other&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; countries and includes&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;: (i)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; Avance&amp;#xAE; Nerve Graft, an off-the-shelf commercially available processed human nerve allograft for bridging severed nerves without the comorbidities associated with an additional surgical site&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;: (ii)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; AxoGuard&amp;#xAE; Nerve Connector, a porcine submucosa extracellular matrix (&amp;#x201C;ECM&amp;#x201D;) coaptation aid for tensionless repair of severed nerves&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;; (iii)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; AxoGuard&amp;#xAE; Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;(iv) &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the AxoTouch&amp;#x2122; Two-Point Discriminator, a tool useful for measuring sensation after a nerve injury, following the progression of a repaired nerve, and during the evaluation of a person with a possible nerve injury, such as nerve division or nerve compression.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Avance&amp;#xAE; Nerve Graft is processed in the United States by AxoGen. AxoGuard&amp;#xAE; Nerve Connector and AxoGuard&amp;#xAE; Nerve Protector are manufactured in the United States by Cook Biotech Incorporated, and are distributed worldwide exclusively by AxoGen.&amp;nbsp;&amp;nbsp;AxoGen maintains its corporate offices in Alachua, Florida and is the parent &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;company &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;of its wholly owned operating subsidiary, AxoGen Corporation.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:NatureOfOperations>
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  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Recent Accounting Pronouncements&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-03 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;line-height:120%;text-indent:9pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In February 2015, the FASB issued Accounting Standards Update No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" ("ASU 2015-02") which updates the considerations on whether an entity should consolidate certain legal entities. The update removes the indefinite deferral of specialized guidance for certain investment funds and changes the way that entities evaluate limited partnerships and fees paid to service providers in the consolidation determination. ASU 2015-02 will become effective for public companies during interim and annual reporting periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Early adoption is permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements. &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;line-height:120%;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In May 2014, the FASB issued a new standard on revenue recognition which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2016; however, &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;on July 9, 2015, the FASB decided to delay the effective date of the new revenue standard by one year&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;.&amp;nbsp;&amp;nbsp;The proposed deferral may permit early adoption, but would not allow adoption any earlier than the original effective date of the standard. We are currently evaluating the impact this standard will have on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company&amp;#x2019;s management has reviewed and considered all other recent accounting pronouncements and believe there are none that could potentially have a material impact on the Company&amp;#x2019;s consolidated financial condition, results of operations, or disclosures.&lt;/font&gt;
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		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
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  <us-gaap:ProceedsFromStockOptionsExercised contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">134672</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:ProceedsFromStockOptionsExercised contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">164626</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:ProfessionalFees contextRef="Duration_8_26_2015_To_8_26_2015_us-gaap_SubsidiarySaleOfStockAxis_axgn_SecuritiesPurchaseAgreementMember" unitRef="Unit13" decimals="0">300000</us-gaap:ProfessionalFees>
  <us-gaap:PropertyPlantAndEquipmentAdditions contextRef="Duration_8_6_2015_To_3_31_2016_us-gaap_StatementScenarioAxis_us-gaap_ScenarioForecastMember_us-gaap_TypeOfArrangementAxis_axgn_LicenseAndServicesAgreementMember" unitRef="Unit13" decimals="0">400000</us-gaap:PropertyPlantAndEquipmentAdditions>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;4.&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Property and Equipment &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;Property and equipment consist of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-indent:14.4pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Furniture and equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,092,486
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;873,824
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Leasehold improvements&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;338,399
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;285,697
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Processing equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,276,442
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,194,712
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Less: accumulated depreciation and amortization&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(1,877,244)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(1,735,205)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Property and equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;830,083
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;619,028
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;"&gt;
			&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_12_31_2014_us-gaap_PropertyPlantAndEquipmentByTypeAxis_axgn_FurnitureAndOfficeEquipmentMember" unitRef="Unit13" decimals="0">873824</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_12_31_2014_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_EquipmentMember" unitRef="Unit13" decimals="0">1194712</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_12_31_2014_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LeaseholdImprovementsMember" unitRef="Unit13" decimals="0">285697</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_9_30_2015_us-gaap_PropertyPlantAndEquipmentByTypeAxis_axgn_FurnitureAndOfficeEquipmentMember" unitRef="Unit13" decimals="0">1092486</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_9_30_2015_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_EquipmentMember" unitRef="Unit13" decimals="0">1276442</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_9_30_2015_us-gaap_PropertyPlantAndEquipmentByTypeAxis_us-gaap_LeaseholdImprovementsMember" unitRef="Unit13" decimals="0">338399</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">619028</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">830083</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Furniture and equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,092,486
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;873,824
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Leasehold improvements&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;338,399
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;285,697
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Processing equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,276,442
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,194,712
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Less: accumulated depreciation and amortization&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(1,877,244)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(1,735,205)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Property and equipment&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;830,083
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;619,028
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">2049603</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">681230</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">2343450</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">936015</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">-90116254</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">-99861186</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Revenue Recognition&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed and determinable, delivery has occurred and there is a reasonable assurance of collection of the sales proceeds. Revenues for manufactured products and products sold to a customer or under a distribution agreement are recognized when the product is &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;shipped&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; to the customer or distributor, at which time title passes to the customer or distributor&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;.&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Once a product is &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;shipped&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, the Company has no further performance obligations. &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Shipped product&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; is defined as &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;product being shipped from our facility via courier&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; to a customer location or segregation of product into a contracted distribution location. At such time, this product cannot be sold to any other customer.&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Fees charged to customers for shipping are recognized as revenues when products are shipped to the customer, distributor or end user.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;I&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;n the case of revenues from consigned sales delivery is determined when the product is utilized in a surgical procedure. Revenues from research grants are recognized in the period the associated costs are incurred.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:Revenues contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">12023789</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">4671340</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">19522244</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">8153675</us-gaap:Revenues>
  <us-gaap:RoyaltyExpense contextRef="Duration_1_1_2014_To_9_30_2014_us-gaap_IncomeStatementLocationAxis_us-gaap_SellingAndMarketingExpenseMember" unitRef="Unit13" decimals="0">238000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyExpense contextRef="Duration_7_1_2014_To_9_30_2014_us-gaap_IncomeStatementLocationAxis_us-gaap_SellingAndMarketingExpenseMember" unitRef="Unit13" decimals="0">93000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyExpense contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_IncomeStatementLocationAxis_us-gaap_SellingAndMarketingExpenseMember" unitRef="Unit13" decimals="0">379000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyExpense contextRef="Duration_7_1_2015_To_9_30_2015_us-gaap_IncomeStatementLocationAxis_us-gaap_SellingAndMarketingExpenseMember" unitRef="Unit13" decimals="0">162000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyRevenue contextRef="Duration_11_12_2014_To_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember_us-gaap_LongtermDebtTypeAxis_axgn_RevenueInterestPurchaseAgreementMember_us-gaap_RangeAxis_us-gaap_MaximumMember" unitRef="Unit13" decimals="-6">30000000</us-gaap:RoyaltyRevenue>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December&amp;nbsp;31,&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,640,811
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,160,859
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Miscellaneous accruals&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;963,984
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;105,315
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Accrued compensation&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,481,512
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1,165,020
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Accounts Payable and Accrued Expenses&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4,086,307
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,431,194
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Term Loan and Revenue Interest Agreement with Three Peaks Capital S.a.r.l. (&amp;#x201C;Three Peaks&amp;#x201D;) for a total term loan amount of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$25,000,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; which has a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;six&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;9.00%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per annum plus the greater of LIBOR or &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;1.0%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; which as of September 30, 2015 and December 31, 2014 resulted in a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;10%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; rate. The Revenue Interest Agreement is for a period of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;ten&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; years. Royalty payments are based on a royalty rate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;3.75%&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of revenues up to a maximum of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$30&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million in revenues in any &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;12&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; month period.&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,537,367
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,085,777
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Long-term portion&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,537,367
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;25,085,777
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
  <us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;License agreements&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;876,063
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;850,859
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Patents&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;146,976
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;79,996
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Less: accumulated amortization&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(387,690)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;(353,681)
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;Intangible assets, net&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;635,349
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;577,174
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Finished goods&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,573,348
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,072,235
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Work in process&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;230,478
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;331,891
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Raw materials&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;897,929
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;809,494
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,701,755
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,213,620
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;Nine months ended September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected term (in years)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected volatility&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;75.45
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;79.76
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Risk free rate&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.27
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.23
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected dividends&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
			&lt;font style="display:inline;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:SellingAndMarketingExpense contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">9326596</us-gaap:SellingAndMarketingExpense>
  <us-gaap:SellingAndMarketingExpense contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">3250977</us-gaap:SellingAndMarketingExpense>
  <us-gaap:SellingAndMarketingExpense contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">14257397</us-gaap:SellingAndMarketingExpense>
  <us-gaap:SellingAndMarketingExpense contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">5512613</us-gaap:SellingAndMarketingExpense>
  <us-gaap:ShareBasedCompensation contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">701697</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit13" decimals="0">227553</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">1031218</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit13" decimals="0">334593</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation contextRef="Duration_7_1_2015_To_9_30_2015_us-gaap_AwardTypeAxis_axgn_StockOptionsContingentUponCertainFutureEventsMember" unitRef="Unit13" decimals="0">0</us-gaap:ShareBasedCompensation>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="Duration_1_1_2014_To_9_30_2014">P4Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="Duration_1_1_2015_To_9_30_2015">P4Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit1" decimals="4">0.7976</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit1" decimals="4">0.7545</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="Duration_1_1_2014_To_9_30_2014" unitRef="Unit1" decimals="4">0.0123</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit1" decimals="4">0.0127</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Duration_1_1_2015_To_9_30_2015_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" unitRef="Unit15" decimals="INF">376000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Duration_7_1_2015_To_9_30_2015_us-gaap_AwardTypeAxis_axgn_StockOptionsContingentUponCertainFutureEventsMember" unitRef="Unit15" decimals="INF">108000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;text-indent:3pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Share-Based Compensation&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Stock-based compensation cost related to stock options granted under the AC 2002 Stock Option Plan &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;(the &amp;#x201C;AC Plan&amp;#x201D;) &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;and AxoGen 2010 Stock Incentive Plan&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; (the &amp;#x201C;AxoGen Plan&amp;#x201D; and, together with the AC Plan, the &amp;#x201C;Plans&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; is measured at grant date, based on the fair value of the award, and is recognized as an expense over the employee&amp;#x2019;s requisite service period. The Company estimates the fair value of each option award issued under the Plan&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;s&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; on the date of grant using a Black-Scholes-Merton option-pricing model that uses the assumptions noted in the table below. The Company estimates the volatility of its common stock&lt;/font&gt;&lt;a name="_cp_text_4_27"&gt;&lt;/a&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, par value $0.01 per share (the &amp;#x201C;Common &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Stock&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at the date of grant based on the volatility of comparable peer companies which are publicly traded, for the periods prior to the October 2011 merger of LecTec, Inc. and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, and based on the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;C&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;ommon &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;S&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;tock for periods subsequent to such merger. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Common Stock&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following weighted-average assumptions for options granted during the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;Nine months ended September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected term (in years)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected volatility&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;75.45
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;79.76
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Risk free rate&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.27
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.23
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected dividends&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and also impact the amount of unamortized compensation expense to be recognized in future periods. The Company did not apply a forfeiture allocation to its unvested options outstanding during the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and 2014 as they were deemed insignificant.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <us-gaap:SharePrice contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_PDLEquitySaleMember" unitRef="Unit16" decimals="INF">2.72</us-gaap:SharePrice>
  <us-gaap:SharePrice contextRef="As_Of_11_12_2014_dei_LegalEntityAxis_axgn_ThreePeaksCapitalMember" unitRef="Unit16" decimals="INF">2.58</us-gaap:SharePrice>
  <us-gaap:SharePrice contextRef="As_Of_2_5_2015_us-gaap_SubsidiarySaleOfStockAxis_us-gaap_IPOMember" unitRef="Unit16" decimals="INF">2.75</us-gaap:SharePrice>
  <us-gaap:SharePrice contextRef="As_Of_8_26_2015_dei_LegalEntityAxis_axgn_EssexWoodlandsFundIxL.p.Member_us-gaap_SubsidiarySaleOfStockAxis_axgn_SecuritiesPurchaseAgreementMember" unitRef="Unit16" decimals="2">3.60</us-gaap:SharePrice>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;"&gt;3.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;Summary of Significant Accounting Policies &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Revenue Recognition&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed and determinable, delivery has occurred and there is a reasonable assurance of collection of the sales proceeds. Revenues for manufactured products and products sold to a customer or under a distribution agreement are recognized when the product is &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;shipped&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; to the customer or distributor, at which time title passes to the customer or distributor&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;.&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Once a product is &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;shipped&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, the Company has no further performance obligations. &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Shipped product&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; is defined as &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;product being shipped from our facility via courier&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; to a customer location or segregation of product into a contracted distribution location. At such time, this product cannot be sold to any other customer.&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Fees charged to customers for shipping are recognized as revenues when products are shipped to the customer, distributor or end user.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;I&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;n the case of revenues from consigned sales delivery is determined when the product is utilized in a surgical procedure. Revenues from research grants are recognized in the period the associated costs are incurred.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Cash and Cash Equivalents and Concentration&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances and does not believe it is exposed to any significant credit risk on cash and cash equivalents.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Accounts Receivable and Concentration of Credit Risk&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Accounts receivable are carried at the original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer&amp;#x2019;s financial condition, credit history and current economic conditions. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;We regularly review all accounts that exceed 60 days from the invoice date and based on an assessment of current credit worthiness, estimate the portion, if any, of the balance that will not be collected.&amp;nbsp;&amp;nbsp;The analysis excludes certain government related receivables due to our past successful experience in collectability.&amp;nbsp;&amp;nbsp;Specific accounts that are deemed uncollectible are reserved at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;100%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; of their outstanding balance.&amp;nbsp;&amp;nbsp;The remaining balances outstanding over &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;60&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days have a percentage applied by aging category &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;(&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; for &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;balances &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;61&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;-&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;20%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; for balances over 90 days aged), based on a historical valuation that allows us to calculate the total reserve required.&amp;nbsp;&amp;nbsp;The reserve balance was determined by applying a percentage to the cumulative balance between &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;60&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days and a higher percentage to the balance over &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days.&amp;nbsp;&amp;nbsp;In the event that we exhaust all collection efforts and deem an account uncollectible, we would subsequently write off the account.&amp;nbsp;&amp;nbsp;The write off process involves approval by senior management based on the write off amount.&amp;nbsp;&amp;nbsp;The allowance for doubtful accounts reserve balance was approximately &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$166,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$94,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and December 31, 2014, respectively.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company&amp;#x2019;s customer base, thus spreading the trade credit risk. The Company also controls credit risk through credit approvals, credit limits and monitoring procedures.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Inventories&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Inventories are comprised of implantable tissue, nerve grafts, Avance&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Graft, AxoGuard&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Connector, AxoGuard&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:6.5pt;"&gt;&amp;#xAE;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;December 31, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Finished goods&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,573,348
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;2,072,235
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Work in process&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;230,478
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;331,891
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Raw materials&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;897,929
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;809,494
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,701,755
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;3,213,620
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Inventories were net of reserve of approximately &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$618,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$404,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and December&amp;nbsp;31, 2014, respectively.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Income Taxes&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company has not recorded current income tax expense due to the generation of net operating losses. Deferred income taxes are accounted for using the balance sheet approach which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section&amp;nbsp;382 as a result of changes in ownership.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company&amp;#x2019;s remaining open tax years subject to examination by the Internal Revenue Service include the years ended December 31, 2011 through 2014; there currently are no examinations in process.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Fair Value of Financial Instruments&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair value of the Company&amp;#x2019;s long-term debt approximates its carrying value based upon current rates available to the Company.&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-indent:3pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Share-Based Compensation&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Stock-based compensation cost related to stock options granted under the AC 2002 Stock Option Plan &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;(the &amp;#x201C;AC Plan&amp;#x201D;) &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;and AxoGen 2010 Stock Incentive Plan&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; (the &amp;#x201C;AxoGen Plan&amp;#x201D; and, together with the AC Plan, the &amp;#x201C;Plans&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; is measured at grant date, based on the fair value of the award, and is recognized as an expense over the employee&amp;#x2019;s requisite service period. The Company estimates the fair value of each option award issued under the Plan&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;s&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; on the date of grant using a Black-Scholes-Merton option-pricing model that uses the assumptions noted in the table below. The Company estimates the volatility of its common stock&lt;/font&gt;&lt;a name="_cp_text_4_27"&gt;&lt;/a&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, par value $0.01 per share (the &amp;#x201C;Common &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Stock&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at the date of grant based on the volatility of comparable peer companies which are publicly traded, for the periods prior to the October 2011 merger of LecTec, Inc. and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, and based on the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;C&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;ommon &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;S&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;tock for periods subsequent to such merger. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Common Stock&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following weighted-average assumptions for options granted during the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30:&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;div style="width:100%;"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&lt;font style="display:inline;font-size:1pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;Nine months ended September 30, &lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;2014&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-size:8pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;"&gt;
						&lt;font style="display:inline;font-weight:bold;font-size:8pt;"&gt;(unaudited)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected term (in years)&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;4
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;"&gt;
						&amp;nbsp;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected volatility&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;75.45
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;79.76
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Risk free rate&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.27
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"&gt;&lt;div style="float:left"&gt;&lt;/div&gt;1.23
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
			&lt;tr&gt;
				&lt;td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;Expected dividends&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp;&amp;#x2014;&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
				&lt;td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;"&gt;
					&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
						&lt;font style="display:inline;font-size:10pt;"&gt;%&lt;/font&gt;&lt;/p&gt;
				&lt;/td&gt;
			&lt;/tr&gt;
		&lt;/table&gt;&lt;/div&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and also impact the amount of unamortized compensation expense to be recognized in future periods. The Company did not apply a forfeiture allocation to its unvested options outstanding during the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; months ended &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and 2014 as they were deemed insignificant.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Use of Estimates&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The preparation of financial statements in conformity with &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;GAAP&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Recent Accounting Pronouncements&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-03 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;line-height:120%;text-indent:9pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In February 2015, the FASB issued Accounting Standards Update No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" ("ASU 2015-02") which updates the considerations on whether an entity should consolidate certain legal entities. The update removes the indefinite deferral of specialized guidance for certain investment funds and changes the way that entities evaluate limited partnerships and fees paid to service providers in the consolidation determination. ASU 2015-02 will become effective for public companies during interim and annual reporting periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Early adoption is permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements. &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;line-height:120%;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;In May 2014, the FASB issued a new standard on revenue recognition which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;after &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;December 1&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2016; however, &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;on July 9, 2015, the FASB decided to delay the effective date of the new revenue standard by one year&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;.&amp;nbsp;&amp;nbsp;The proposed deferral may permit early adoption, but would not allow adoption any earlier than the original effective date of the standard. We are currently evaluating the impact this standard will have on our consolidated financial statements.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The Company&amp;#x2019;s management has reviewed and considered all other recent accounting pronouncements and believe there are none that could potentially have a material impact on the Company&amp;#x2019;s consolidated financial condition, results of operations, or disclosures.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:StockholdersEquity contextRef="As_Of_12_31_2014" unitRef="Unit13" decimals="0">-11245680</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="As_Of_9_30_2015" unitRef="Unit13" decimals="0">11175967</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;9.&amp;nbsp;&amp;nbsp;&amp;nbsp;Public Offering of Common Stock&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On February 5, 2015, AxoGen entered into &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;an u&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;nderwriting &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;a&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;greement with &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Wedbush Securities Inc. (&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;#x201C;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Underwriter&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;#x201D;)&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; in connection with the offering, issuance and sale (the &amp;#x201C;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; February 2015 &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Offering&amp;#x201D;) of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;4,728,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, at a price to the public of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$2.75&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per share.&amp;nbsp; The Company also granted to the Underwriter a &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;30&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;-day option to purchase up to an aggregate of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;709,200&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; additional &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;shares of Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; to cover over-allotments, if any.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-family:Times-Roman;font-size:10pt;"&gt;As of February 13, 2015, the &lt;/font&gt;&lt;font style="display:inline;font-family:Times-Roman;font-size:10pt;"&gt;February 2015 &lt;/font&gt;&lt;font style="display:inline;font-family:Times-Roman;font-size:10pt;"&gt;Offering was completed with the sale of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;5,437,200&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;shares of Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;,&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; including all 709,200 shares of Common stock issued pursuant to the Underwriter&amp;#x2019;s&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; exercise of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;its&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; over-allotment option, resulting in gross proceeds to AxoGen from the &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;February 2015 &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Offering of approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$15.0&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$1.4&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million. The &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;shares of Common Stock&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; were listed on the NASDAQ Capital Market.&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; &amp;nbsp; &amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;The February 2015 &lt;/font&gt;&lt;a name="_cp_text_4_111"&gt;&lt;/a&gt;&lt;font style="display:inline;font-size:10pt;"&gt;Offering was made pursuant to the Company&amp;#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the &lt;/font&gt;&lt;a name="_cp_text_1_112"&gt;&lt;/a&gt;&lt;font style="display:inline;font-size:10pt;"&gt;SEC on April 30, 2014&lt;/font&gt;&lt;a name="_cp_text_4_113"&gt;&lt;/a&gt;&lt;font style="display:inline;font-size:10pt;"&gt;, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated February 5, 2015.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;On August 26, 2015, Company entered into a Securities Purchase Agreement (the &amp;#x201C;Purchase Agreement&amp;#x201D;) with Essex Woodlands Fund IX, L.P. (&amp;#x201C;ESSEX&amp;#x201D;) for the purchase of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;4,861,111&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; shares of Common Stock, at a public offering price of &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$3.60&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; per share (the &amp;#x201C;August 2015 Offering).&amp;nbsp;&amp;nbsp;The expenses directly related to the August 2015 Offering were &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$300,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; of which &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$181,000&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; has been paid by the Company.&amp;nbsp;&amp;nbsp;Such expenses included the Company&amp;#x2019;s legal and accounting fees, printing expenses, transfer agent fees and miscellaneous fees and costs related to the August 2015 Offering.&amp;nbsp;&amp;nbsp;Proceeds from the August 2015 Offering of approximately &lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;$17.&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt;2&lt;/font&gt;&lt;font style="display:inline;font-size:10pt;"&gt; million will be used for sales and marketing and general working capital purposes.&amp;nbsp;&amp;nbsp;The Company has provided certain demand and &amp;#x201C;piggy-back&amp;#x201D; registration rights in connection with this sale of Common Stock.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;The August 2015 Offering was made pursuant to the Company&amp;#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the SEC on April 30, 2014, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated August 26, 2015.&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;font-size:10pt;"&gt;11.&amp;nbsp;&amp;nbsp;Subsequent Events&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;On November &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, 2015, &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; exercised its option right pursuant to the Development, License &amp;amp; Option Agreement (the &amp;#x201C;Agreement&amp;#x201D;), dated November 3, 2014 made &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;by and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;between &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and Sensory Management Services LLC (&amp;#x201C;SMS&amp;#x201D;).&amp;nbsp;&amp;nbsp;SMS developed and sold a pressure-specified sensory device (&amp;#x201C;PSSD&amp;#x201D;) for use in evaluating patients with peripheral nerve conditions.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; entered into the Agreement to validate and develop an updated PSSD &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;to be named&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; the AcroVal&amp;#x2122; Ne&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;urosensory &amp;amp; Motor Testing System&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; (the &amp;#x201C;AcroVal&amp;#x2122;&amp;#x201D;) and SMS granted &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; an option pursuant to the Agreement to purchase the assets and technology necessary to own and commercialize the PSSD.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;#x2019;s validation of the PSSD, and development of the AcroVal&amp;#x2122;, were positive&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;,&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; leading to the exercise of the option and acquisition of the rights and assets related to the PSSD. &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; intends to launch the AcroVal&amp;#x2122; in&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; the&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; first quarter of 2016 through its current sales channel. Evaluating patients with peripheral nerve conditions is essential to confirming diagnosis, mapping a course of action and monitoring post-intervention results. Although &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;examiners of&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; peripheral nerves have many &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;assessment &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;options, there is little consistency on measurement protocols. With the AcroVal&amp;#x2122; Ne&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;urosensory &amp;amp; Motor Testing System&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, &amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC anticipates that &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;examiners will have digital, less subjective results for their patients with conditions &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;such as&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; peripheral neuropathy, nerve compression syndromes, and transected nerves. Ultimately, standardization of assessment techniques will facilitate comparison and interpretation of clinical results leading to better understanding and care for patients with pe&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;ripheral nerve conditions.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;text-indent:24.5pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Upon exercise of the option &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;paid a fee of &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$15,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and is obligated to pay&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; prior development fees owed by SMS o&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;f up to&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$39,500&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Commencing November 4, 2015 and for a &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;ten&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; year period, AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; will also pay to SMS a &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;15%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; royalty on sales of AcroVal&amp;#x2122; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;will provide SMS an AcroVal&amp;#x2122; instrument, with upgrades&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;,&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; for &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;10&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; years, without cost.&amp;nbsp;&amp;nbsp;The &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;SMS &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Agreement also provides for certain payments in the event that certain milestones are obtained during the royalty term.&amp;nbsp; &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;AC&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;, as a result of&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; such option&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; exercise, &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;now &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;has ownership of all necessary technology, information and know-how necessary for its commercialization of the AcroVal&amp;#x2122;. &lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:9pt 0pt 0pt;text-indent:24.5pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:TradeAndOtherAccountsReceivablePolicy contextRef="Duration_1_1_2015_To_9_30_2015">&lt;div&gt; &lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Accounts Receivable and Concentration of Credit Risk&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Accounts receivable are carried at the original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer&amp;#x2019;s financial condition, credit history and current economic conditions. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received.&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;font-size:10pt;"&gt;&amp;nbsp;&lt;/font&gt;
		&lt;/p&gt;
		&lt;p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;"&gt;
			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;We regularly review all accounts that exceed 60 days from the invoice date and based on an assessment of current credit worthiness, estimate the portion, if any, of the balance that will not be collected.&amp;nbsp;&amp;nbsp;The analysis excludes certain government related receivables due to our past successful experience in collectability.&amp;nbsp;&amp;nbsp;Specific accounts that are deemed uncollectible are reserved at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;100%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; of their outstanding balance.&amp;nbsp;&amp;nbsp;The remaining balances outstanding over &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;60&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days have a percentage applied by aging category &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;(&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;5%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; for &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;balances &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;61&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;-&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;20%&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; for balances over 90 days aged), based on a historical valuation that allows us to calculate the total reserve required.&amp;nbsp;&amp;nbsp;The reserve balance was determined by applying a percentage to the cumulative balance between &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;60&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days and a higher percentage to the balance over &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;90&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; days.&amp;nbsp;&amp;nbsp;In the event that we exhaust all collection efforts and deem an account uncollectible, we would subsequently write off the account.&amp;nbsp;&amp;nbsp;The write off process involves approval by senior management based on the write off amount.&amp;nbsp;&amp;nbsp;The allowance for doubtful accounts reserve balance was approximately &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$166,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;$94,000&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;September&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; 30, 2015 and December 31, 2014, respectively.&lt;/font&gt;
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			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company&amp;#x2019;s customer base, thus spreading the trade credit risk. The Company also controls credit risk through credit approvals, credit limits and monitoring procedures.&lt;/font&gt;
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		&lt;p&gt;&lt;font size="1"&gt; &lt;/font&gt;&lt;/p&gt;&lt;/div&gt;&lt;div style="margin-left:0%;margin-right:0%;"&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:TradeAndOtherAccountsReceivablePolicy>
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			&lt;font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;"&gt;Use of Estimates&lt;/font&gt;
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			&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;The preparation of financial statements in conformity with &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;GAAP&lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt; requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;the &lt;/font&gt;&lt;font style="display:inline;color:#000000;font-size:10pt;"&gt;disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/font&gt;
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  <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="Duration_7_1_2014_To_9_30_2014" unitRef="Unit15" decimals="0">17466097</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
  <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="Duration_1_1_2015_To_9_30_2015" unitRef="Unit15" decimals="0">24778123</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
  <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="Duration_7_1_2015_To_9_30_2015" unitRef="Unit15" decimals="0">26841060</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
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  <element id="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate" name="UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate" nillable="true" type="num:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" xmlns="http://www.w3.org/2001/XMLSchema" />
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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>13
<FILENAME>axgn-20150930_cal.xml
<DESCRIPTION>EX-101.CAL
<TEXT>
<XBRL>
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<!--Created on: 11/5/2015 2:58:59 PM-->
<!--Modified on: 11/5/2015 2:58:59 PM-->
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>14
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<DESCRIPTION>EX-101.DEF
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Statement [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity Registrant Name</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Document Type</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Document Period End Date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amendment Flag</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current Fiscal Year End Date</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity Current Reporting Status</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity Filer Category</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity Common Stock, Shares Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Document Fiscal Year Focus</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Document Fiscal Period Focus</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Condensed Consolidated Balance Sheets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets, Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current assets:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and Cash Equivalents, at Carrying Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents, end of period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents, beginning of year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, net of allowance for doubtful accounts of approximately $54,000 and $59,000, respectively</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, net of allowance for doubtful accounts of approximately $166,000 and $94,000, respectively</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid Expense and Other Assets, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid expenses and other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Assets, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total current assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredFinanceCostsNoncurrentNet" xlink:to="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Finance Costs, Noncurrent, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredFinanceCostsNoncurrentNet_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred financing costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Shareholders' Equity (Deficit)</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current liabilities:</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable and Accrued Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable and accrued expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable and Accrued Expenses</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Current Deferred Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total current liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermNotesPayable" xlink:label="us-gaap_LongTermNotesPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermNotesPayable" xlink:to="us-gaap_LongTermNotesPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermNotesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notes Payable, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermNotesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Debt</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="us-gaap_DeferredRevenueNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred Revenue, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long Term Deferred Revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity Attributable to Parent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shareholders' equity (deficit):</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common stock, $.01 par value; 50,000,000 shares authorized; 29,844,503 and 19,488,814 shares issued and outstanding</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additional paid-in capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated deficit</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stockholders' Equity Attributable to Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total shareholders' equity (deficit)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Liabilities and Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total Liabilities and Shareholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable, allowance for doubtful accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for doubtful accounts reserve balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common stock, Par value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Par value of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common stock, shares issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Shares of common stock sold</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Common Stock, Shares, Outstanding</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Research and Development Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Research and development</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">General and Administrative Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">General and administrative</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Costs and Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total costs and expenses</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Income (Loss)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonoperating Income (Expense) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other income (expense):</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Financing Costs and Discounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AmortizationOfFinancingCostsAndDiscounts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest expense-deferred financing costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other Nonoperating Income (Expense)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Other income (expense)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonoperating Income (Expense)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total other income (expense)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Number of Shares Outstanding, Basic and Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Weighted Average Common Shares outstanding - basic and diluted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Earnings Per Share, Basic and Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Loss Per Common share - basic and diluted (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash flows from operating activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Adjustments to reconcile net loss to net cash used for operating activities:</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationDepletionAndAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Depreciation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="us-gaap_AmortizationOfIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of deferred financing costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization of deferred financing costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xlink:to="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Issuance of Stock and Warrants for Services or Claims</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock grants</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaidInKindInterest" xlink:label="us-gaap_PaidInKindInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaidInKindInterest" xlink:to="us-gaap_PaidInKindInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaidInKindInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Paid-in-Kind Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaidInKindInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest added to note</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Operating Capital [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Change in assets and liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Inventories</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Prepaid Expense and Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prepaid expenses and other</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable and accrued expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Increase (Decrease) in Deferred Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Deferred revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Operating Activities, Continuing Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net cash used for operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash flows from investing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Purchase of property and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireIntangibleAssets" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments to Acquire Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Acquisition of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Investing Activities, Continuing Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net cash used for investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Cash flows from financing activities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Stock Options Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from exercise of stock options</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:to="us-gaap_FinancingReceivablesPeriodPastDueAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivables, Period Past Due [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:to="us-gaap_FinancingReceivablesPeriodPastDueDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivables Period Past Due [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivables, Period Past Due [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancingReceivables60To89DaysPastDueMember" xlink:label="us-gaap_FinancingReceivables60To89DaysPastDueMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivables60To89DaysPastDueMember" xlink:to="us-gaap_FinancingReceivables60To89DaysPastDueMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivables60To89DaysPastDueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivables60 To89 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivables60To89DaysPastDueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Age 61 to 90 Days</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember" xlink:label="us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember" xlink:to="us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Financing Receivables Equal To Greater Than90 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Age Over 90 Days</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Range [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts, Notes, Loans and Financing Receivable [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Receivable and Concentration of Credit Risk</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage" xlink:label="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage" xlink:to="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the reserve for accounts deemed uncollectible, expressed as a percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reserve for Accounts Receivable Deemed Uncollectible Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reserve for accounts deemed uncollectible (as a percent)</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable" xlink:to="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the age of specific types of trade accounts and notes receivable.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable Age of Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Age of doubtful accounts</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_AllowanceForDoubtfulAccountsReceivablePercentage" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivablePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_AllowanceForDoubtfulAccountsReceivablePercentage" xlink:to="axgn_AllowanceForDoubtfulAccountsReceivablePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivablePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the valuation allowance for receivables due, that are expected to be uncollectible, expressed as a percentage.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivablePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Allowance for Doubtful Accounts Receivable Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_AllowanceForDoubtfulAccountsReceivablePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Reserve for doubtful accounts (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryFinishedGoodsNetOfReserves" xlink:label="us-gaap_InventoryFinishedGoodsNetOfReserves" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoodsNetOfReserves" xlink:to="us-gaap_InventoryFinishedGoodsNetOfReserves_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryFinishedGoodsNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Finished Goods, Net of Reserves</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryFinishedGoodsNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finished goods</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryWorkInProcessNetOfReserves" xlink:label="us-gaap_InventoryWorkInProcessNetOfReserves" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWorkInProcessNetOfReserves" xlink:to="us-gaap_InventoryWorkInProcessNetOfReserves_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryWorkInProcessNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Work in Process, Net of Reserves</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryWorkInProcessNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Work in process</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryRawMaterialsNetOfReserves" xlink:label="us-gaap_InventoryRawMaterialsNetOfReserves" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterialsNetOfReserves" xlink:to="us-gaap_InventoryRawMaterialsNetOfReserves_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRawMaterialsNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory, Raw Materials, Net of Reserves</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryRawMaterialsNetOfReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Raw materials</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InventoryValuationReserves" xlink:label="us-gaap_InventoryValuationReserves" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserves" xlink:to="us-gaap_InventoryValuationReserves_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryValuationReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory Valuation Reserves</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryValuationReserves_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Inventory valuation reserves</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expected term</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expected volatility (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Risk free rate (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property Plant And Equipment Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_FurnitureAndOfficeEquipmentMember" xlink:label="axgn_FurnitureAndOfficeEquipmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_FurnitureAndOfficeEquipmentMember" xlink:to="axgn_FurnitureAndOfficeEquipmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_FurnitureAndOfficeEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equipment and tangible personal property commonly used in offices.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_FurnitureAndOfficeEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Furniture And Office Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_FurnitureAndOfficeEquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Furniture and Office Equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leasehold Improvements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leasehold Improvements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquipmentMember" xlink:label="us-gaap_EquipmentMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquipmentMember" xlink:to="us-gaap_EquipmentMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquipmentMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Processing equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property and equipment, Gross</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Less: accumulated depreciation and amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:to="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Finite-Lived Intangible Assets [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite Lived Intangible Assets Major Class Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LicensingAgreementsMember" xlink:label="us-gaap_LicensingAgreementsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicensingAgreementsMember" xlink:to="us-gaap_LicensingAgreementsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Licensing Agreements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LicensingAgreementsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Licensing Agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PatentsMember" xlink:label="us-gaap_PatentsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PatentsMember" xlink:to="us-gaap_PatentsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PatentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Patents [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PatentsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Patents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Intangible assets consist of:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-lived intangible assets, gross</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Less: accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Remaining Amortization Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amortization period of intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">License agreement period</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NonamortizablePendingPatentCosts" xlink:label="axgn_NonamortizablePendingPatentCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NonamortizablePendingPatentCosts" xlink:to="axgn_NonamortizablePendingPatentCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NonamortizablePendingPatentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents capitalized costs related to patents that are pending, not currently subject to amortization. Amount is included in total of finite lived intangible assets gross.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NonamortizablePendingPatentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Nonamortizable Pending Patent Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NonamortizablePendingPatentCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Non-amortizable pending costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract" xlink:to="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Future amortization of license and patent agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Remainder of 2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2017</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2018</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2019</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Finite-Lived Intangible Assets, Amortization Expense, after Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement Location [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement Location [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Income Statement Location [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingAndMarketingExpenseMember" xlink:label="us-gaap_SellingAndMarketingExpenseMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingAndMarketingExpenseMember" xlink:to="us-gaap_SellingAndMarketingExpenseMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingAndMarketingExpenseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Selling And Marketing Expense [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SellingAndMarketingExpenseMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sales and Marketing Expense</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NoticePeriodForTerminationOfLicenseAgreements" xlink:label="axgn_NoticePeriodForTerminationOfLicenseAgreements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NoticePeriodForTerminationOfLicenseAgreements" xlink:to="axgn_NoticePeriodForTerminationOfLicenseAgreements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NoticePeriodForTerminationOfLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notice period for termination of license agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NoticePeriodForTerminationOfLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notice Period for Termination of License Agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NoticePeriodForTerminationOfLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">License agreements extended period</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_RoyaltyFeesPercentageUnderLicenseAgreements" xlink:label="axgn_RoyaltyFeesPercentageUnderLicenseAgreements" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_RoyaltyFeesPercentageUnderLicenseAgreements" xlink:to="axgn_RoyaltyFeesPercentageUnderLicenseAgreements_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_RoyaltyFeesPercentageUnderLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty fees percentage under license agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_RoyaltyFeesPercentageUnderLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty Fees Percentage under License Agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_RoyaltyFeesPercentageUnderLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty fees range under the license agreements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="axgn_RoyaltyFeesPercentageUnderLicenseAgreements_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty fee percent</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_MinimumRoyaltyOfLicenseAgreement" xlink:label="axgn_MinimumRoyaltyOfLicenseAgreement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_MinimumRoyaltyOfLicenseAgreement" xlink:to="axgn_MinimumRoyaltyOfLicenseAgreement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_MinimumRoyaltyOfLicenseAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum quarterly royalty required under the terms of one of the reporting entity's licensing arrangements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_MinimumRoyaltyOfLicenseAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum Royalty of License Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_MinimumRoyaltyOfLicenseAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum royalty of agreements</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors" xlink:label="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors" xlink:to="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The maximum percentage of royalty which may be paid for the sale of the same product, pursuant to a capping arrangement in the license agreements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage of Capping Royalties for Multiple Royalty Payments to Licensors</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty stack cap for royalties paid to more than one licensor for sales of the same product</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_MilestonePaymentContingentUponReceiptOfGrant" xlink:label="axgn_MilestonePaymentContingentUponReceiptOfGrant" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_MilestonePaymentContingentUponReceiptOfGrant" xlink:to="axgn_MilestonePaymentContingentUponReceiptOfGrant_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_MilestonePaymentContingentUponReceiptOfGrant_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the amount of milestone payment due if the reporting entity receives a grant under one of the grants specified in the license agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_MilestonePaymentContingentUponReceiptOfGrant_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Milestone Payment Contingent upon Receipt of Grant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_MilestonePaymentContingentUponReceiptOfGrant_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Milestone fee upon receiving a Phase II Small Business Innovation Research</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NumberOfProductsUnderDevelopment" xlink:label="axgn_NumberOfProductsUnderDevelopment" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NumberOfProductsUnderDevelopment" xlink:to="axgn_NumberOfProductsUnderDevelopment_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NumberOfProductsUnderDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of products under development.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NumberOfProductsUnderDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of Products Under Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NumberOfProductsUnderDevelopment_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of products under development</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RoyaltyExpense" xlink:label="us-gaap_RoyaltyExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyExpense" xlink:to="us-gaap_RoyaltyExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RoyaltyExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RoyaltyExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty fees included in sales and marketing expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable and Accrued Liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts Payable, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accounts payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Miscellaneous Accruals Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Miscellaneous accruals</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="us-gaap_AccruedSalariesCurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedSalariesCurrent" xlink:to="us-gaap_AccruedSalariesCurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedSalariesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued Compensation Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedSalariesCurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Accrued compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Legal Entity [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_OberlandCapitalHealthCareMember" xlink:label="axgn_OberlandCapitalHealthCareMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_OberlandCapitalHealthCareMember" xlink:to="axgn_OberlandCapitalHealthCareMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_OberlandCapitalHealthCareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to Oberland Capital Healthcare L.P.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_OberlandCapitalHealthCareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oberland Capital Health Care [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_OberlandCapitalHealthCareMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Oberland Capital Healthcare L.P</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_ThreePeaksCapitalMember" xlink:label="axgn_ThreePeaksCapitalMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_ThreePeaksCapitalMember" xlink:to="axgn_ThreePeaksCapitalMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_ThreePeaksCapitalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to Three Peaks Capital S.A.R.L., an affiliate of Oberland Capital Healthcare L.P.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_ThreePeaksCapitalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Three Peaks Capital [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_ThreePeaksCapitalMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Three Peaks</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Longterm Debt Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_TermLoanMember" xlink:label="axgn_TermLoanMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_TermLoanMember" xlink:to="axgn_TermLoanMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_TermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to term loan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_TermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_TermLoanMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term Loan</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_TermLoanAndRevenueInterestPurchaseAgreementMember" xlink:label="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember" xlink:to="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to a term loan and a Revenue Interest Purchase Agreement, a funding arrangement whereby the reporting entity received cash, with repayment terms based on a royalty rate subject to agreed upon minimum payments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term Loan And Revenue Interest Purchase Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_TermLoanAndRevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term Loan And Revenue Interest Purchase Agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Note Payable</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtNoncurrent" xlink:to="us-gaap_LongTermDebtNoncurrent_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Debt, Excluding Current Maturities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermDebtNoncurrent_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Long-term Notes Payable</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_RevenueInterestPurchaseAgreementMember" xlink:label="axgn_RevenueInterestPurchaseAgreementMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_RevenueInterestPurchaseAgreementMember" xlink:to="axgn_RevenueInterestPurchaseAgreementMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_RevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Interest Purchase Agreement, a funding arrangement whereby the reporting entity received cash, with repayment terms based on a royalty rate subject to agreed upon minimum payments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_RevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Interest Purchase Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_RevenueInterestPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Revenue Interest Purchase Agreement</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PDLEquitySaleMember" xlink:label="axgn_PDLEquitySaleMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PDLEquitySaleMember" xlink:to="axgn_PDLEquitySaleMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PDLEquitySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to PDL Equity Sale.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PDLEquitySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">P D L Equity Sale [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PDLEquitySaleMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">PDL</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_RoyaltyPercentageOfNetRevenue" xlink:label="axgn_RoyaltyPercentageOfNetRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_RoyaltyPercentageOfNetRevenue" xlink:to="axgn_RoyaltyPercentageOfNetRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_RoyaltyPercentageOfNetRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the royalty as a percentage of net revenue.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_RoyaltyPercentageOfNetRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty Percentage of Net Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_RoyaltyPercentageOfNetRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty percentage on net revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Face Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Face amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Interest Rate, Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Interest rate stated (as a percent)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate" xlink:label="us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate" xlink:to="us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Interest Rate, Basis for Effective Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Basis spread on fixed rate, option 1</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_DebtInstrumentBasisSpreadOnFixedRateOption2" xlink:label="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2" xlink:to="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Percentage points added to the fixed to compute the total rate on the debt instrument.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument Basis Spread On Fixed Rate Option 2</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_DebtInstrumentBasisSpreadOnFixedRateOption2_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Basis spread on fixed rate, option 2</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Interest Rate at Period End</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateEffectivePercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Effective interest rate (as a percent)</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest" xlink:label="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest" xlink:to="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Amount of the required periodic payments for principal and interest required under the contract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument Periodic Payment Principal and Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payment amount</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PaymentToExtinguishRoyaltyContract" xlink:label="axgn_PaymentToExtinguishRoyaltyContract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PaymentToExtinguishRoyaltyContract" xlink:to="axgn_PaymentToExtinguishRoyaltyContract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PaymentToExtinguishRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash outflow for extinguishing a royalty contract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PaymentToExtinguishRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payment To Extinguish Royalty Contract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PaymentToExtinguishRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payment to extinguish royalty contract</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_ObligationUnderRoyaltyContract" xlink:label="axgn_ObligationUnderRoyaltyContract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_ObligationUnderRoyaltyContract" xlink:to="axgn_ObligationUnderRoyaltyContract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_ObligationUnderRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The remaining obligation under the company's royalty contract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_ObligationUnderRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Obligation Under Royalty Contract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_ObligationUnderRoyaltyContract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Obligation under royalty contract</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="us-gaap_LongTermDebtByMaturityAbstract" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByMaturityAbstract" xlink:to="us-gaap_LongTermDebtByMaturityAbstract_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum annual payment amounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Minimum annual payment amounts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument, Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentTerm_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PutOptionRequiredInternalRateOfReturnPercentage" xlink:label="axgn_PutOptionRequiredInternalRateOfReturnPercentage" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PutOptionRequiredInternalRateOfReturnPercentage" xlink:to="axgn_PutOptionRequiredInternalRateOfReturnPercentage_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PutOptionRequiredInternalRateOfReturnPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The required internal rate of return on the funded amount (including any delinquent interest) which the reporting entity will be required to repay in the event of a material adverse event or other condition specified in the agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PutOptionRequiredInternalRateOfReturnPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Put Option Required Internal Rate of Return Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PutOptionRequiredInternalRateOfReturnPercentage_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Internal rate of return on funded amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds from Issuance of Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Funded amount</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_DebtInstrumentOptionalAdditionalBorrowings" xlink:label="axgn_DebtInstrumentOptionalAdditionalBorrowings" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_DebtInstrumentOptionalAdditionalBorrowings" xlink:to="axgn_DebtInstrumentOptionalAdditionalBorrowings_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_DebtInstrumentOptionalAdditionalBorrowings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents potential future additional borrowings on existing debt instruments if certain covenants are maintained.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_DebtInstrumentOptionalAdditionalBorrowings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Debt Instrument Optional Additional Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_DebtInstrumentOptionalAdditionalBorrowings_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Optional future additional borrowing</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate" xlink:to="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for on or prior to the first anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon Certain Events Multiple Of Outstanding Term Loan Lender Has Right To Demand On Or Prior To First Anniversary Of Applicable Closing Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for on or prior to the first anniversary of the applicable Closing Date</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate" xlink:to="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the first anniversary but before the second anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon Certain Events Multiple Of Outstanding Term Loan Lender Has Right To Demand After First Anniversary But Before Second Anniversary Of Applicable Closing Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the first anniversary but before the second anniversary of the applicable Closing Date</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate" xlink:to="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the second anniversary but before the third anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon Certain Events Multiple Of Outstanding Term Loan Lender Has Right To Demand After Second Anniversary But Before Third Anniversary Of Applicable Closing Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the second anniversary but before the third anniversary of the applicable Closing Date</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate" xlink:label="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate" xlink:to="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the internal rate of return of the outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand after the third anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon Certain Events Internal Rate Of Return Of Outstanding Term Loan Lender Has Right To Demand After Third Anniversary Of Applicable Closing Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon certain events, the internal rate of return of the outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand after the third anniversary of the applicable Closing Date</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed" xlink:label="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed" xlink:to="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the additional percentage of the originally advanced Term Loan amounts the lender has a right to demand upon a change of control, sale of the majority of the Company's assets or a material adverse change</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon Certain Events Additional Percentage Of Originally Advanced Term Loan Owed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Upon certain events, the additional percentage of the originally advanced Term Loan amount owed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RoyaltyRevenue" xlink:label="us-gaap_RoyaltyRevenue" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyRevenue" xlink:to="us-gaap_RoyaltyRevenue_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RoyaltyRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RoyaltyRevenue_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Royalty revenue per year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharePrice" xlink:label="us-gaap_SharePrice" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Public offering price (in dollars per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Options, Granted (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock options granted (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total future stock compensation expense related to nonvested awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Total future stock compensation expense related to nonvested awards</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares" xlink:label="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares" xlink:to="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of days given to the underwriter to sell additional shares over the initial allotment.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Days To Underwriter To Sell Additional Common Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of days to underwriter to sell additional common shares</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_ProceedsFromIssuanceOfCommonStockGross" xlink:label="axgn_ProceedsFromIssuanceOfCommonStockGross" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_ProceedsFromIssuanceOfCommonStockGross" xlink:to="axgn_ProceedsFromIssuanceOfCommonStockGross_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_ProceedsFromIssuanceOfCommonStockGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The gross cash inflow from the additional capital contribution to the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_ProceedsFromIssuanceOfCommonStockGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Proceeds From Issuance Of Common Stock Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_ProceedsFromIssuanceOfCommonStockGross_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Gross proceeds from issuance of common stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees" xlink:label="us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees" xlink:to="us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Expense Related to Distribution or Servicing and Underwriting Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Underwriting discounts, commissions and other estimated offering expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProfessionalFees" xlink:to="us-gaap_ProfessionalFees_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Professional Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Offering expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfStockIssuanceCosts" xlink:to="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payments of Stock Issuance Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsOfStockIssuanceCosts_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Offering expenses paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOperatingLeasedAssetsTable" xlink:label="us-gaap_ScheduleOfOperatingLeasedAssetsTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfOperatingLeasedAssetsTable" xlink:to="us-gaap_ScheduleOfOperatingLeasedAssetsTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfOperatingLeasedAssetsTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Schedule of Operating Leased Assets [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasedAssetsLineItems" xlink:label="us-gaap_OperatingLeasedAssetsLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasedAssetsLineItems" xlink:to="us-gaap_OperatingLeasedAssetsLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasedAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Operating Leased Assets [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasedAssetsLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Commitments and Contingencies</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_AreaOfRealEstatePropertyAdditional" xlink:label="axgn_AreaOfRealEstatePropertyAdditional" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_AreaOfRealEstatePropertyAdditional" xlink:to="axgn_AreaOfRealEstatePropertyAdditional_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_AreaOfRealEstatePropertyAdditional_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the additional area of a real estate property due to agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_AreaOfRealEstatePropertyAdditional_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area Of Real Estate Property Additional</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_AreaOfRealEstatePropertyAdditional_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Additional leased office space in square feet</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="us-gaap_AreaOfRealEstateProperty" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Area of Real Estate Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AreaOfRealEstateProperty_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Leased office space in square feet</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_TermOfAgreement" xlink:label="axgn_TermOfAgreement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_TermOfAgreement" xlink:to="axgn_TermOfAgreement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_TermOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The period of time covered by the agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_TermOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term of Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_TermOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Term of agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="us-gaap_LeaseAndRentalExpense" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="us-gaap_LeaseAndRentalExpense_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Annual Lease Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseAndRentalExpense_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Annual lease expense</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAdditions" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAdditions" xlink:to="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Property, Plant and Equipment, Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Capital expenditures for the placement of equipment and build-out at facility</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated" xlink:label="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated" xlink:to="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the number of anniversary after which either of the parties has an option for earlier termination of the agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number Of Anniversary After Which The Agreement Could Be Terminated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Number of anniversary after which the agreement could be terminated</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_NoticePeriodForTerminationOfAgreement" xlink:label="axgn_NoticePeriodForTerminationOfAgreement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_NoticePeriodForTerminationOfAgreement" xlink:to="axgn_NoticePeriodForTerminationOfAgreement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_NoticePeriodForTerminationOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the notice period for termination of the agreement by either parties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_NoticePeriodForTerminationOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notice Period For Termination Of Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_NoticePeriodForTerminationOfAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Notice period for termination of contract</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="us-gaap_SubsequentEventTable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTable" xlink:to="us-gaap_SubsequentEventTable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Events</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="us-gaap_SubsequentEventLineItems" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventLineItems" xlink:to="us-gaap_SubsequentEventLineItems_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Event [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Subsequent Events</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement" xlink:label="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement" xlink:to="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The cash outflow for fees relating to the exercise of the developmnt, license, and option agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Payment Of Fees Relating To Exercise of Development, License, And Option Agreement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Fee paid for exercise of the Development, License, and Option Agreement</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_PriorDevelopmentFeesPayable" xlink:label="axgn_PriorDevelopmentFeesPayable" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_PriorDevelopmentFeesPayable" xlink:to="axgn_PriorDevelopmentFeesPayable_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_PriorDevelopmentFeesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">The carrying value of obligations payable relating to prior development fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_PriorDevelopmentFeesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prior Development Fees Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_PriorDevelopmentFeesPayable_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Prior development fees payable</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_LicenseAgreementInstrumentUpgradePeriod" xlink:label="axgn_LicenseAgreementInstrumentUpgradePeriod" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_LicenseAgreementInstrumentUpgradePeriod" xlink:to="axgn_LicenseAgreementInstrumentUpgradePeriod_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_LicenseAgreementInstrumentUpgradePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents the period of time during which the Company will provide instrument upgrades without cost, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_LicenseAgreementInstrumentUpgradePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">License Agreement, Instrument Upgrade Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_LicenseAgreementInstrumentUpgradePeriod_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Period of instrument upgrades without cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Award Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Equity Award [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Employee Stock Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeStockOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Options</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_StockOptionsContingentUponCertainFutureEventsMember" xlink:label="axgn_StockOptionsContingentUponCertainFutureEventsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_StockOptionsContingentUponCertainFutureEventsMember" xlink:to="axgn_StockOptionsContingentUponCertainFutureEventsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_StockOptionsContingentUponCertainFutureEventsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to stock options contingent upon certain future events.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_StockOptionsContingentUponCertainFutureEventsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Options Contingent Upon Certain Future Events [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_StockOptionsContingentUponCertainFutureEventsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Stock Options, Contingent Upon Certain Future Events [Member]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_EssexWoodlandsFundIxL.p.Member" xlink:label="axgn_EssexWoodlandsFundIxL.p.Member" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_EssexWoodlandsFundIxL.p.Member" xlink:to="axgn_EssexWoodlandsFundIxL.p.Member_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_EssexWoodlandsFundIxL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to Essex Woodlands Fund IX, L.P.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_EssexWoodlandsFundIxL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Essex Woodlands Fund Ix L.p. [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_EssexWoodlandsFundIxL.p.Member_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">ESSEX</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiarySaleOfStockAxis" xlink:label="us-gaap_SubsidiarySaleOfStockAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiarySaleOfStockAxis" xlink:to="us-gaap_SubsidiarySaleOfStockAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiarySaleOfStockAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Stock [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleOfStockNameOfTransactionDomain" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale Of Stock Name Of Transaction [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Sale of Stock [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IPOMember" xlink:label="us-gaap_IPOMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IPOMember" xlink:to="us-gaap_IPOMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IPOMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">I P O [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IPOMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Offering</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OverAllotmentOptionMember" xlink:label="us-gaap_OverAllotmentOptionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OverAllotmentOptionMember" xlink:to="us-gaap_OverAllotmentOptionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OverAllotmentOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Over Allotment Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OverAllotmentOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Underwriting Agreement</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_IPOAndOverAllotmentOptionMember" xlink:label="axgn_IPOAndOverAllotmentOptionMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_IPOAndOverAllotmentOptionMember" xlink:to="axgn_IPOAndOverAllotmentOptionMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_IPOAndOverAllotmentOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to both the Initial Public Offering and the Over Allotment Option.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_IPOAndOverAllotmentOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">I P O And Over Allotment Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_IPOAndOverAllotmentOptionMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Offering inclusive of over-allotment option</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_SecuritiesPurchaseAgreementMember" xlink:label="axgn_SecuritiesPurchaseAgreementMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_SecuritiesPurchaseAgreementMember" xlink:to="axgn_SecuritiesPurchaseAgreementMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_SecuritiesPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to the Securities Purchase Agreement.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_SecuritiesPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Securities Purchase Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_SecuritiesPurchaseAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Securities Purchase Agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseArrangementTypeAxis" xlink:label="us-gaap_LeaseArrangementTypeAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseArrangementTypeAxis" xlink:to="us-gaap_LeaseArrangementTypeAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseArrangementTypeAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Arrangement, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LeaseArrangementTypeDomain" xlink:label="us-gaap_LeaseArrangementTypeDomain" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseArrangementTypeDomain" xlink:to="us-gaap_LeaseArrangementTypeDomain_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseArrangementTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Arrangement Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseArrangementTypeDomain_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Lease Arrangement, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_JaColeMember" xlink:label="axgn_JaColeMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_JaColeMember" xlink:to="axgn_JaColeMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_JaColeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ja-cole, the lessor of the reporting entity's warehouse and office space located in Burleson, Texas.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_JaColeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ja Cole [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_JaColeMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Ja-Cole</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Type of Arrangement and Non-arrangement Transactions [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arrangements And Nonarrangement Transactions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Arrangements and Non-arrangement Transactions [Domain]</label>
    <loc xlink:type="locator" xlink:href="axgn-20150930.xsd#axgn_LicenseAndServicesAgreementMember" xlink:label="axgn_LicenseAndServicesAgreementMember" xmlns="http://www.xbrl.org/2003/linkbase" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="axgn_LicenseAndServicesAgreementMember" xlink:to="axgn_LicenseAndServicesAgreementMember_lbl" xmlns="http://www.xbrl.org/2003/linkbase" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="axgn_LicenseAndServicesAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Represents information pertaining to license and services agreement member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="axgn_LicenseAndServicesAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">License And Services Agreement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="axgn_LicenseAndServicesAgreementMember_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">License and Services Agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" xmlns="http://www.xbrl.org/2003/linkbase" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US" xmlns="http://www.xbrl.org/2003/linkbase">Scenario [Axis]</label>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>16
<FILENAME>axgn-20150930_pre.xml
<DESCRIPTION>EX-101.PRE
<TEXT>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021384690464">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Notes Payable (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Nov. 12, 2014</div></th>
<th class="th"><div>Oct. 05, 2012</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Nov. 13, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,844,503<span></span>
</td>
<td class="nump">19,488,814<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Value of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 298,445<span></span>
</td>
<td class="nump">$ 194,888<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=axgn_PDLEquitySaleMember', window );">PDL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="nump">643,382<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Value of common stock sold</a></td>
<td class="nump">$ 1,750,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Public offering price (in dollars per share)</a></td>
<td class="nump">$ 2.72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember', window );">Three Peaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="nump">1,375,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Value of common stock sold</a></td>
<td class="nump">$ 3,550,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Public offering price (in dollars per share)</a></td>
<td class="nump">$ 2.58<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember', window );">Term Loan | Three Peaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest payable</a></td>
<td class="nump">9.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount</a></td>
<td class="nump">$ 25,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate', window );">Basis spread on fixed rate, option 1</a></td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_DebtInstrumentBasisSpreadOnFixedRateOption2', window );">Basis spread on fixed rate, option 2</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_DebtInstrumentOptionalAdditionalBorrowings', window );">Optional future additional borrowing</a></td>
<td class="nump">$ 7,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate', window );">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for on or prior to the first anniversary of the applicable Closing Date</a></td>
<td class="nump">120.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate', window );">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the first anniversary but before the second anniversary of the applicable Closing Date</a></td>
<td class="nump">135.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate', window );">Upon certain events, the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the second anniversary but before the third anniversary of the applicable Closing Date</a></td>
<td class="nump">150.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate', window );">Upon certain events, the internal rate of return of the outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand after the third anniversary of the applicable Closing Date</a></td>
<td class="nump">16.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed', window );">Upon certain events, the additional percentage of the originally advanced Term Loan amount owed</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | PDL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | Three Peaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="nump">3.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | Three Peaks | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="nump">4.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyRevenue', window );">Royalty revenue per year</a></td>
<td class="nump">$ 30,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_DebtInstrumentBasisSpreadOnFixedRateOption2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the fixed to compute the total rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_DebtInstrumentBasisSpreadOnFixedRateOption2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_DebtInstrumentOptionalAdditionalBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents potential future additional borrowings on existing debt instruments if certain covenants are maintained.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_DebtInstrumentOptionalAdditionalBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_RoyaltyPercentageOfNetRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the royalty as a percentage of net revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_RoyaltyPercentageOfNetRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the additional percentage of the originally advanced Term Loan amounts the lender has a right to demand upon a change of control, sale of the majority of the Company's assets or a material adverse change</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_UponCertainEventsAdditionalPercentageOfOriginallyAdvancedTermLoanOwed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the internal rate of return of the outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand after the third anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_UponCertainEventsInternalRateOfReturnOfOutstandingTermLoanLenderHasRightToDemandAfterThirdAnniversaryOfApplicableClosingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the first anniversary but before the second anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterFirstAnniversaryButBeforeSecondAnniversaryOfApplicableClosingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for after the second anniversary but before the third anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandAfterSecondAnniversaryButBeforeThirdAnniversaryOfApplicableClosingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of outstanding principal amount of the Term Loan the Company has the option to prepay and the lender has a right to demand payment for on or prior to the first anniversary of the applicable Closing Date upon a change of control, sale of the majority of the Company's assets or a material adverse change to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_UponCertainEventsMultipleOfOutstandingTermLoanLenderHasRightToDemandOnOrPriorToFirstAnniversaryOfApplicableClosingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of any adjustments made to the stated rate to determine the effective rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(e))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021387494816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Par value of common stock</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term</a></td>
<td class="text">4 years<span></span>
</td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility (as a percent)</a></td>
<td class="nump">75.45%<span></span>
</td>
<td class="nump">79.76%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk free rate (as a percent)</a></td>
<td class="nump">1.27%<span></span>
</td>
<td class="nump">1.23%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(iv)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 14.D.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br> -Section D<br><br><br><br> -Subsection 2<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021480608112">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details) - Licensing Agreements - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Nov. 04, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1', window );">License agreement period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements', window );">Royalty fee percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Events | SMS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement', window );">Fee paid for exercise of the Development, License, and Option Agreement</a></td>
<td class="nump">$ 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1', window );">License agreement period</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements', window );">Royalty fee percent</a></td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_LicenseAgreementInstrumentUpgradePeriod', window );">Period of instrument upgrades without cost</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Events | Maximum | SMS</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_PriorDevelopmentFeesPayable', window );">Prior development fees payable</a></td>
<td class="nump">$ 39,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_LicenseAgreementInstrumentUpgradePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the period of time during which the Company will provide instrument upgrades without cost, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_LicenseAgreementInstrumentUpgradePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for fees relating to the exercise of the developmnt, license, and option agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_PaymentOfFeesRelatingToExerciseOfDevelopmentLicenseAndOptionAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_PriorDevelopmentFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value of obligations payable relating to prior development fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_PriorDevelopmentFeesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty fees percentage under license agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_RoyaltyFeesPercentageUnderLicenseAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=axgn_SensoryManagementServicesLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=axgn_SensoryManagementServicesLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021395272800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">4.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Property and Equipment </font>
		</p>
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Property and equipment consist of the following:</font>
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		<p style="margin:0pt;text-indent:14.4pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
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						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
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			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Furniture and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,092,486
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>873,824
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Leasehold improvements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,399
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>285,697
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Processing equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,276,442
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,194,712
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated depreciation and amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,877,244)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,735,205)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Property and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>830,083
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,028
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13-14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 205<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385623248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($) </div>
<div>product</div>
</th>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember', window );">Sales and Marketing Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyExpense', window );">Royalty fees included in sales and marketing expense</a></td>
<td class="nump">$ 162,000<span></span>
</td>
<td class="nump">$ 93,000<span></span>
</td>
<td class="nump">$ 379,000<span></span>
</td>
<td class="nump">$ 238,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NoticePeriodForTerminationOfLicenseAgreements', window );">License agreements extended period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">60 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_MinimumRoyaltyOfLicenseAgreement', window );">Minimum royalty of agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_MilestonePaymentContingentUponReceiptOfGrant', window );">Milestone fee upon receiving a Phase II Small Business Innovation Research</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NumberOfProductsUnderDevelopment', window );">Number of products under development | product</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements', window );">Royalty fees range under the license agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements', window );">Royalty fees range under the license agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors', window );">Royalty stack cap for royalties paid to more than one licensor for sales of the same product</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_MilestonePaymentContingentUponReceiptOfGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of milestone payment due if the reporting entity receives a grant under one of the grants specified in the license agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_MilestonePaymentContingentUponReceiptOfGrant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum quarterly royalty required under the terms of one of the reporting entity's licensing arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_MinimumRoyaltyOfLicenseAgreement</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Notice period for termination of license agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NoticePeriodForTerminationOfLicenseAgreements</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of products under development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NumberOfProductsUnderDevelopment</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum percentage of royalty which may be paid for the sale of the same product, pursuant to a capping arrangement in the license agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_PercentageOfCappingRoyaltiesForMultipleRoyaltyPaymentsToLicensors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_RoyaltyFeesPercentageUnderLicenseAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty fees percentage under license agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_RoyaltyFeesPercentageUnderLicenseAgreements</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyExpense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember</td>
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<td>na</td>
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<td></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<head>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403368592">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Intangible Assets (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract', window );"><strong>Future amortization of license and patent agreements</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear', window );">Remainder of 2015</a></td>
<td class="nump">$ 14,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo', window );">2016</a></td>
<td class="nump">48,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree', window );">2017</a></td>
<td class="nump">48,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour', window );">2018</a></td>
<td class="nump">48,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive', window );">2019</a></td>
<td class="nump">48,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive', window );">2020</a></td>
<td class="nump">$ 48,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseCurrentAndFiveSucceedingFiscalYearsAbstract</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021392404848">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accounts Payable and Accrued Expenses (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract', window );"><strong>Accounts Payable and Accrued Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">$ 1,640,811<span></span>
</td>
<td class="nump">$ 1,160,859<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Miscellaneous accruals</a></td>
<td class="nump">963,984<span></span>
</td>
<td class="nump">105,315<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalariesCurrent', window );">Accrued compensation</a></td>
<td class="nump">1,481,512<span></span>
</td>
<td class="nump">1,165,020<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts Payable and Accrued Expenses</a></td>
<td class="nump">$ 4,086,307<span></span>
</td>
<td class="nump">$ 2,431,194<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385087760">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Notes Payable (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Total Debt</a></td>
<td class="nump">$ 25,537,367<span></span>
</td>
<td class="nump">$ 25,085,777<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanAndRevenueInterestPurchaseAgreementMember', window );">Term Loan And Revenue Interest Purchase Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term Notes Payable</a></td>
<td class="nump">25,537,367<span></span>
</td>
<td class="nump">25,085,777<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember', window );">Three Peaks | Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-term Notes Payable</a></td>
<td class="nump">$ 25,537,367<span></span>
</td>
<td class="nump">$ 25,085,777<span></span>
</td>
</tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanAndRevenueInterestPurchaseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=axgn_TermLoanAndRevenueInterestPurchaseAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021625682768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;Summary of Significant Accounting Policies </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Revenue Recognition</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed and determinable, delivery has occurred and there is a reasonable assurance of collection of the sales proceeds. Revenues for manufactured products and products sold to a customer or under a distribution agreement are recognized when the product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;"> to the customer or distributor, at which time title passes to the customer or distributor</font><font style="display:inline;color:#000000;font-size:10pt;">.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Once a product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;">, the Company has no further performance obligations. </font><font style="display:inline;color:#000000;font-size:10pt;">Shipped product</font><font style="display:inline;color:#000000;font-size:10pt;"> is defined as </font><font style="display:inline;color:#000000;font-size:10pt;">product being shipped from our facility via courier</font><font style="display:inline;color:#000000;font-size:10pt;"> to a customer location or segregation of product into a contracted distribution location. At such time, this product cannot be sold to any other customer.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Fees charged to customers for shipping are recognized as revenues when products are shipped to the customer, distributor or end user.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">I</font><font style="display:inline;color:#000000;font-size:10pt;">n the case of revenues from consigned sales delivery is determined when the product is utilized in a surgical procedure. Revenues from research grants are recognized in the period the associated costs are incurred.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Cash and Cash Equivalents and Concentration</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances and does not believe it is exposed to any significant credit risk on cash and cash equivalents.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Accounts Receivable and Concentration of Credit Risk</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Accounts receivable are carried at the original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer&#x2019;s financial condition, credit history and current economic conditions. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">We regularly review all accounts that exceed 60 days from the invoice date and based on an assessment of current credit worthiness, estimate the portion, if any, of the balance that will not be collected.&nbsp;&nbsp;The analysis excludes certain government related receivables due to our past successful experience in collectability.&nbsp;&nbsp;Specific accounts that are deemed uncollectible are reserved at </font><font style="display:inline;color:#000000;font-size:10pt;">100%</font><font style="display:inline;color:#000000;font-size:10pt;"> of their outstanding balance.&nbsp;&nbsp;The remaining balances outstanding over </font><font style="display:inline;color:#000000;font-size:10pt;">60</font><font style="display:inline;color:#000000;font-size:10pt;"> days have a percentage applied by aging category </font><font style="display:inline;color:#000000;font-size:10pt;">(</font><font style="display:inline;color:#000000;font-size:10pt;">5%</font><font style="display:inline;color:#000000;font-size:10pt;"> for </font><font style="display:inline;color:#000000;font-size:10pt;">balances </font><font style="display:inline;color:#000000;font-size:10pt;">61</font><font style="display:inline;color:#000000;font-size:10pt;">-</font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days and </font><font style="display:inline;color:#000000;font-size:10pt;">20%</font><font style="display:inline;color:#000000;font-size:10pt;"> for balances over 90 days aged), based on a historical valuation that allows us to calculate the total reserve required.&nbsp;&nbsp;The reserve balance was determined by applying a percentage to the cumulative balance between </font><font style="display:inline;color:#000000;font-size:10pt;">60</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days and a higher percentage to the balance over </font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days.&nbsp;&nbsp;In the event that we exhaust all collection efforts and deem an account uncollectible, we would subsequently write off the account.&nbsp;&nbsp;The write off process involves approval by senior management based on the write off amount.&nbsp;&nbsp;The allowance for doubtful accounts reserve balance was approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$166,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$94,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December 31, 2014, respectively.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company&#x2019;s customer base, thus spreading the trade credit risk. The Company also controls credit risk through credit approvals, credit limits and monitoring procedures.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Inventories</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories are comprised of implantable tissue, nerve grafts, Avance</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Graft, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Connector, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Finished goods</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,573,348
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,072,235
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Work in process</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,478
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,891
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Raw materials</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>897,929
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>809,494
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,701,755
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,213,620
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories were net of reserve of approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$618,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$404,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December&nbsp;31, 2014, respectively.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Income Taxes</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company has not recorded current income tax expense due to the generation of net operating losses. Deferred income taxes are accounted for using the balance sheet approach which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section&nbsp;382 as a result of changes in ownership.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company&#x2019;s remaining open tax years subject to examination by the Internal Revenue Service include the years ended December 31, 2011 through 2014; there currently are no examinations in process.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Fair Value of Financial Instruments</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair value of the Company&#x2019;s long-term debt approximates its carrying value based upon current rates available to the Company.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:3pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Share-Based Compensation</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Stock-based compensation cost related to stock options granted under the AC 2002 Stock Option Plan </font><font style="display:inline;color:#000000;font-size:10pt;">(the &#x201C;AC Plan&#x201D;) </font><font style="display:inline;color:#000000;font-size:10pt;">and AxoGen 2010 Stock Incentive Plan</font><font style="display:inline;color:#000000;font-size:10pt;"> (the &#x201C;AxoGen Plan&#x201D; and, together with the AC Plan, the &#x201C;Plans&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> is measured at grant date, based on the fair value of the award, and is recognized as an expense over the employee&#x2019;s requisite service period. The Company estimates the fair value of each option award issued under the Plan</font><font style="display:inline;color:#000000;font-size:10pt;">s</font><font style="display:inline;color:#000000;font-size:10pt;"> on the date of grant using a Black-Scholes-Merton option-pricing model that uses the assumptions noted in the table below. The Company estimates the volatility of its common stock</font><a name="_cp_text_4_27"></a><font style="display:inline;color:#000000;font-size:10pt;">, par value $0.01 per share (the &#x201C;Common </font><font style="display:inline;color:#000000;font-size:10pt;">Stock&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> at the date of grant based on the volatility of comparable peer companies which are publicly traded, for the periods prior to the October 2011 merger of LecTec, Inc. and </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, and based on the </font><font style="display:inline;color:#000000;font-size:10pt;">C</font><font style="display:inline;color:#000000;font-size:10pt;">ommon </font><font style="display:inline;color:#000000;font-size:10pt;">S</font><font style="display:inline;color:#000000;font-size:10pt;">tock for periods subsequent to such merger. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its </font><font style="display:inline;color:#000000;font-size:10pt;">Common Stock</font><font style="display:inline;color:#000000;font-size:10pt;"> and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following weighted-average assumptions for options granted during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine months ended September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected term (in years)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected volatility</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75.45
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79.76
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Risk free rate</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.27
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.23
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected dividends</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and also impact the amount of unamortized compensation expense to be recognized in future periods. The Company did not apply a forfeiture allocation to its unvested options outstanding during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and 2014 as they were deemed insignificant.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Use of Estimates</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The preparation of financial statements in conformity with </font><font style="display:inline;color:#000000;font-size:10pt;">GAAP</font><font style="display:inline;color:#000000;font-size:10pt;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and </font><font style="display:inline;color:#000000;font-size:10pt;">the </font><font style="display:inline;color:#000000;font-size:10pt;">disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Recent Accounting Pronouncements</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-03 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;line-height:120%;text-indent:9pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In February 2015, the FASB issued Accounting Standards Update No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" ("ASU 2015-02") which updates the considerations on whether an entity should consolidate certain legal entities. The update removes the indefinite deferral of specialized guidance for certain investment funds and changes the way that entities evaluate limited partnerships and fees paid to service providers in the consolidation determination. ASU 2015-02 will become effective for public companies during interim and annual reporting periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Early adoption is permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements. </font>
		</p>
		<p style="margin:0pt;line-height:120%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In May 2014, the FASB issued a new standard on revenue recognition which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2016; however, </font><font style="display:inline;color:#000000;font-size:10pt;">on July 9, 2015, the FASB decided to delay the effective date of the new revenue standard by one year</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp;&nbsp;The proposed deferral may permit early adoption, but would not allow adoption any earlier than the original effective date of the standard. We are currently evaluating the impact this standard will have on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company&#x2019;s management has reviewed and considered all other recent accounting pronouncements and believe there are none that could potentially have a material impact on the Company&#x2019;s consolidated financial condition, results of operations, or disclosures.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021383430080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Notes Payable (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Oct. 09, 2015</div></th>
<th class="th"><div>Nov. 12, 2014</div></th>
<th class="th"><div>Oct. 05, 2012</div></th>
<th class="th"><div>Aug. 14, 2012</div></th>
<th class="th"><div>Oct. 05, 2012</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Nov. 13, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,042,258<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,380,470<span></span>
</td>
<td class="nump">$ 3,060,779<span></span>
</td>
<td class="nump">$ 3,963,885<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest Paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,949,381<span></span>
</td>
<td class="nump">$ 1,154,738<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | Three Peaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Minimum annual payment amounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | Three Peaks | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | PDL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_RoyaltyPercentageOfNetRevenue', window );">Royalty percentage on net revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_PaymentToExtinguishRoyaltyContract', window );">Payment to extinguish royalty contract</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_ObligationUnderRoyaltyContract', window );">Obligation under royalty contract</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Minimum annual payment amounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">8 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_PutOptionRequiredInternalRateOfReturnPercentage', window );">Internal rate of return on funded amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Funded amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,050,000<span></span>
</td>
<td class="nump">$ 1,750,000<span></span>
</td>
<td class="nump">$ 20,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | PDL | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest', window );">Payment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember', window );">Revenue Interest Purchase Agreement | PDL | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest', window );">Payment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember', window );">Term Loan | Three Peaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Note Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Total debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate stated (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate', window );">Basis spread on fixed rate, option 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_DebtInstrumentBasisSpreadOnFixedRateOption2', window );">Basis spread on fixed rate, option 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 625,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest Paid</a></td>
<td class="nump">$ 625,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Minimum annual payment amounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_DebtInstrumentBasisSpreadOnFixedRateOption2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the fixed to compute the total rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_DebtInstrumentBasisSpreadOnFixedRateOption2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments for principal and interest required under the contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_DebtInstrumentPeriodicPaymentPrincipalAndInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_ObligationUnderRoyaltyContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The remaining obligation under the company's royalty contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_ObligationUnderRoyaltyContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_PaymentToExtinguishRoyaltyContract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for extinguishing a royalty contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_PaymentToExtinguishRoyaltyContract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_PutOptionRequiredInternalRateOfReturnPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The required internal rate of return on the funded amount (including any delinquent interest) which the reporting entity will be required to repay in the event of a material adverse event or other condition specified in the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_PutOptionRequiredInternalRateOfReturnPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_RoyaltyPercentageOfNetRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the royalty as a percentage of net revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_RoyaltyPercentageOfNetRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of any adjustments made to the stated rate to determine the effective rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateBasisForEffectiveRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtByMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtByMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=axgn_RevenueInterestPurchaseAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=axgn_ThreePeaksCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=axgn_PDLEquitySaleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=axgn_PDLEquitySaleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=axgn_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385312208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Balance Sheets - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 29,935,467<span></span>
</td>
<td class="nump">$ 8,215,791<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net of allowance for doubtful accounts of approximately $166,000 and $94,000, respectively</a></td>
<td class="nump">4,642,802<span></span>
</td>
<td class="nump">2,872,308<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventory</a></td>
<td class="nump">3,701,755<span></span>
</td>
<td class="nump">3,213,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other</a></td>
<td class="nump">290,231<span></span>
</td>
<td class="nump">109,369<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">38,570,255<span></span>
</td>
<td class="nump">14,411,088<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">830,083<span></span>
</td>
<td class="nump">619,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Intangible assets</a></td>
<td class="nump">635,349<span></span>
</td>
<td class="nump">577,174<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred financing costs</a></td>
<td class="nump">877,265<span></span>
</td>
<td class="nump">793,499<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">40,912,952<span></span>
</td>
<td class="nump">16,400,789<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">4,086,307<span></span>
</td>
<td class="nump">2,431,194<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Current Deferred Revenue</a></td>
<td class="nump">14,118<span></span>
</td>
<td class="nump">14,118<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">4,100,425<span></span>
</td>
<td class="nump">2,445,312<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Note Payable - Revenue Interest Purchase Agreement</a></td>
<td class="nump">25,537,367<span></span>
</td>
<td class="nump">25,085,777<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Long Term Deferred Revenue</a></td>
<td class="nump">99,193<span></span>
</td>
<td class="nump">115,380<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">29,736,985<span></span>
</td>
<td class="nump">27,646,469<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders' equity (deficit):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $.01 par value; 50,000,000 shares authorized; 29,844,503 and 19,488,814 shares issued and outstanding</a></td>
<td class="nump">298,445<span></span>
</td>
<td class="nump">194,888<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">110,738,708<span></span>
</td>
<td class="nump">78,675,686<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(99,861,186)<span></span>
</td>
<td class="num">(90,116,254)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders' equity (deficit)</a></td>
<td class="nump">11,175,967<span></span>
</td>
<td class="num">(11,245,680)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Shareholders' equity</a></td>
<td class="nump">$ 40,912,952<span></span>
</td>
<td class="nump">$ 16,400,789<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNoncurrentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNoncurrentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021401391808">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccounting', window );">Basis of Presentation</a></td>
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			<font style="display:inline;font-weight:bold;font-size:10pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;Basis of Presentation </font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-size:10pt;">The accompanying condensed consolidated financial statements include the accounts of AxoGen, Inc. (the &#x201C;Company&#x201D; or &#x201C;AxoGen&#x201D;) and its wholly owned subsidiary AxoGen Corporation (&#x201C;AC&#x201D;)&nbsp;&nbsp;as of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and December 31, 2014 and for the three and </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> month periods ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014.&nbsp;&nbsp;The Company&#x2019;s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America </font><font style="display:inline;font-size:10pt;">(&#x201C;GAAP&#x201D;) </font><font style="display:inline;font-size:10pt;">and should be read in conjunction with the audited financial statements of the Company for the year ended December 31, 2014, which are included in the </font><font style="display:inline;font-size:10pt;">Company&#x2019;s </font><font style="display:inline;font-size:10pt;">Annual Report on Form 10-K as of and for the year ended December 31, 2014.&nbsp;&nbsp;The interim condensed consolidated financial statements are unaudited and in the opinion of management, reflect all adjustments necessary for a fair presentation of results for the periods presented.&nbsp;&nbsp;Results for interim periods are not necessarily indicative of results for the full year. All significant intercompany accounts and transactions have been eliminated in consolidation.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfAccounting</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021384646752">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Public Offering of Common Stock (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Aug. 26, 2015</div></th>
<th class="th"><div>Feb. 13, 2015</div></th>
<th class="th"><div>Feb. 05, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,844,503<span></span>
</td>
<td class="nump">19,488,814<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Par value of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember', window );">Offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,728,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Public offering price (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=us-gaap_OverAllotmentOptionMember', window );">Underwriting Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">709,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares', window );">Number of days to underwriter to sell additional common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=axgn_IPOAndOverAllotmentOptionMember', window );">Offering inclusive of over-allotment option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,437,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_ProceedsFromIssuanceOfCommonStockGross', window );">Gross proceeds from issuance of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees', window );">Underwriting discounts, commissions and other estimated offering expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=axgn_SecuritiesPurchaseAgreementMember', window );">Securities Purchase Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalFees', window );">Offering expenses</a></td>
<td class="nump">$ 300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Offering expenses paid</a></td>
<td class="nump">$ 181,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=axgn_EssexWoodlandsFundIxL.p.Member', window );">ESSEX | Securities Purchase Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares of common stock sold</a></td>
<td class="nump">4,861,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Public offering price (in dollars per share)</a></td>
<td class="nump">$ 3.60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_ProceedsFromIssuanceOfCommonStockGross', window );">Gross proceeds from issuance of common stock</a></td>
<td class="nump">$ 17,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of days given to the underwriter to sell additional shares over the initial allotment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NumberOfDaysToUnderwriterToSellAdditionalCommonShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_ProceedsFromIssuanceOfCommonStockGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_ProceedsFromIssuanceOfCommonStockGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expense related to distribution, servicing and underwriting fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 946<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.6-07.2(a),(b),(c),(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 946<br><br><br><br> -SubTopic 225<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (k)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488370&amp;loc=d3e13550-115849<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiarySaleOfStockAxis=us-gaap_OverAllotmentOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=us-gaap_OverAllotmentOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiarySaleOfStockAxis=axgn_IPOAndOverAllotmentOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=axgn_IPOAndOverAllotmentOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiarySaleOfStockAxis=axgn_SecuritiesPurchaseAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiarySaleOfStockAxis=axgn_SecuritiesPurchaseAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=axgn_EssexWoodlandsFundIxL.p.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=axgn_EssexWoodlandsFundIxL.p.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021401375408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Notes Payable (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Notes Payable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Notes payable</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
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					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Term Loan and Revenue Interest Agreement with Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;) for a total term loan amount of </font><font style="display:inline;font-size:10pt;">$25,000,000</font><font style="display:inline;font-size:10pt;"> which has a </font><font style="display:inline;font-size:10pt;">six</font><font style="display:inline;font-size:10pt;"> year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at </font><font style="display:inline;font-size:10pt;">9.00%</font><font style="display:inline;font-size:10pt;"> per annum plus the greater of LIBOR or </font><font style="display:inline;font-size:10pt;">1.0%</font><font style="display:inline;font-size:10pt;"> which as of September 30, 2015 and December 31, 2014 resulted in a </font><font style="display:inline;font-size:10pt;">10%</font><font style="display:inline;font-size:10pt;"> rate. The Revenue Interest Agreement is for a period of </font><font style="display:inline;font-size:10pt;">ten</font><font style="display:inline;font-size:10pt;"> years. Royalty payments are based on a royalty rate of </font><font style="display:inline;font-size:10pt;">3.75%</font><font style="display:inline;font-size:10pt;"> of revenues up to a maximum of </font><font style="display:inline;font-size:10pt;">$30</font><font style="display:inline;font-size:10pt;"> million in revenues in any </font><font style="display:inline;font-size:10pt;">12</font><font style="display:inline;font-size:10pt;"> month period.</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Long-term portion</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 470<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(e),(f))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21538-112644<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 7<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfDebtInstrumentsTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021383920960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">8 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Aug. 06, 2015</div></th>
<th class="th">
<div>Apr. 21, 2015 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseArrangementTypeAxis=axgn_JaColeMember', window );">Ja-Cole</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasedAssetsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AreaOfRealEstatePropertyAdditional', window );">Additional leased office space in square feet</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Leased office space in square feet</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_TermOfAgreement', window );">Term of agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Annual lease expense | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=axgn_LicenseAndServicesAgreementMember', window );">License and Services Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasedAssetsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_TermOfAgreement', window );">Term of agreement</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated', window );">Number of anniversary after which the agreement could be terminated</a></td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NoticePeriodForTerminationOfAgreement', window );">Notice period for termination of contract</a></td>
<td class="text">180 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=axgn_LicenseAndServicesAgreementMember', window );">License and Services Agreement | Forecast</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasedAssetsLineItems', window );"><strong>Commitments and Contingencies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAdditions', window );">Capital expenditures for the placement of equipment and build-out at facility | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_AreaOfRealEstatePropertyAdditional">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the additional area of a real estate property due to agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_AreaOfRealEstatePropertyAdditional</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_NoticePeriodForTerminationOfAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the notice period for termination of the agreement by either parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NoticePeriodForTerminationOfAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of anniversary after which either of the parties has an option for earlier termination of the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NumberOfAnniversaryAfterWhichAgreementCouldBeTerminated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_TermOfAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period of time covered by the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_TermOfAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseAndRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseAndRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasedAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasedAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseArrangementTypeAxis=axgn_JaColeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseArrangementTypeAxis=axgn_JaColeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=axgn_LicenseAndServicesAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=axgn_LicenseAndServicesAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385200096">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoodsNetOfReserves', window );">Finished goods</a></td>
<td class="nump">$ 2,573,348<span></span>
</td>
<td class="nump">$ 2,072,235<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryWorkInProcessNetOfReserves', window );">Work in process</a></td>
<td class="nump">230,478<span></span>
</td>
<td class="nump">331,891<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterialsNetOfReserves', window );">Raw materials</a></td>
<td class="nump">897,929<span></span>
</td>
<td class="nump">809,494<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventory, Net</a></td>
<td class="nump">3,701,755<span></span>
</td>
<td class="nump">3,213,620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryValuationReserves', window );">Inventory valuation reserves</a></td>
<td class="nump">$ 618,000<span></span>
</td>
<td class="nump">$ 404,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryFinishedGoodsNetOfReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.BB)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011343&amp;loc=d3e100047-122729<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section BB<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryFinishedGoodsNetOfReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryRawMaterialsNetOfReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.BB)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011343&amp;loc=d3e100047-122729<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a)(4))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section BB<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRawMaterialsNetOfReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryValuationReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of valuation reserve for inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.BB)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011343&amp;loc=d3e100047-122729<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (SX 210.12-09)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24092-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryValuationReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryWorkInProcessNetOfReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.BB)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011343&amp;loc=d3e100047-122729<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section BB<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385562128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;Organization and Business</font>
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			<font style="display:inline;font-size:10pt;">AxoGen is a leading medical technology company dedicated to peripheral nerve repair. The company has created and licensed a unique combination of patented nerve repair technologies to change the standard of care for patients with peripheral nerve injuries. AxoGen&#x2019;s portfolio of regenerative medicine products is available in the United States, Canada and several </font><font style="display:inline;font-size:10pt;">other</font><font style="display:inline;font-size:10pt;"> countries and includes</font><font style="display:inline;font-size:10pt;">: (i)</font><font style="display:inline;font-size:10pt;"> Avance&#xAE; Nerve Graft, an off-the-shelf commercially available processed human nerve allograft for bridging severed nerves without the comorbidities associated with an additional surgical site</font><font style="display:inline;font-size:10pt;">: (ii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Connector, a porcine submucosa extracellular matrix (&#x201C;ECM&#x201D;) coaptation aid for tensionless repair of severed nerves</font><font style="display:inline;font-size:10pt;">; (iii)</font><font style="display:inline;font-size:10pt;"> AxoGuard&#xAE; Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments</font><font style="display:inline;font-size:10pt;">;</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">(iv) </font><font style="display:inline;font-size:10pt;">the AxoTouch&#x2122; Two-Point Discriminator, a tool useful for measuring sensation after a nerve injury, following the progression of a repaired nerve, and during the evaluation of a person with a possible nerve injury, such as nerve division or nerve compression.</font>
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			<font style="display:inline;font-size:10pt;">Avance&#xAE; Nerve Graft is processed in the United States by AxoGen. AxoGuard&#xAE; Nerve Connector and AxoGuard&#xAE; Nerve Protector are manufactured in the United States by Cook Biotech Incorporated, and are distributed worldwide exclusively by AxoGen.&nbsp;&nbsp;AxoGen maintains its corporate offices in Alachua, Florida and is the parent </font><font style="display:inline;font-size:10pt;">company </font><font style="display:inline;font-size:10pt;">of its wholly owned operating subsidiary, AxoGen Corporation.</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6003-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=SL51803626-108592<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385252320">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
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<td class="text">&#160;<span></span>
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<td class="nump">19,488,814<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385205056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Revenue Recognition</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Revenue is recognized when persuasive evidence of an arrangement exists, the price is fixed and determinable, delivery has occurred and there is a reasonable assurance of collection of the sales proceeds. Revenues for manufactured products and products sold to a customer or under a distribution agreement are recognized when the product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;"> to the customer or distributor, at which time title passes to the customer or distributor</font><font style="display:inline;color:#000000;font-size:10pt;">.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Once a product is </font><font style="display:inline;color:#000000;font-size:10pt;">shipped</font><font style="display:inline;color:#000000;font-size:10pt;">, the Company has no further performance obligations. </font><font style="display:inline;color:#000000;font-size:10pt;">Shipped product</font><font style="display:inline;color:#000000;font-size:10pt;"> is defined as </font><font style="display:inline;color:#000000;font-size:10pt;">product being shipped from our facility via courier</font><font style="display:inline;color:#000000;font-size:10pt;"> to a customer location or segregation of product into a contracted distribution location. At such time, this product cannot be sold to any other customer.</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">Fees charged to customers for shipping are recognized as revenues when products are shipped to the customer, distributor or end user.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">I</font><font style="display:inline;color:#000000;font-size:10pt;">n the case of revenues from consigned sales delivery is determined when the product is utilized in a surgical procedure. Revenues from research grants are recognized in the period the associated costs are incurred.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents and Concentration</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Cash and Cash Equivalents and Concentration</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits. The Company has never experienced any losses related to these balances and does not believe it is exposed to any significant credit risk on cash and cash equivalents.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TradeAndOtherAccountsReceivablePolicy', window );">Accounts Receivable and Concentration of Credit Risk</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Accounts Receivable and Concentration of Credit Risk</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Accounts receivable are carried at the original invoice amount less an estimate made for doubtful accounts based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer&#x2019;s financial condition, credit history and current economic conditions. Accounts receivable are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when received.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">We regularly review all accounts that exceed 60 days from the invoice date and based on an assessment of current credit worthiness, estimate the portion, if any, of the balance that will not be collected.&nbsp;&nbsp;The analysis excludes certain government related receivables due to our past successful experience in collectability.&nbsp;&nbsp;Specific accounts that are deemed uncollectible are reserved at </font><font style="display:inline;color:#000000;font-size:10pt;">100%</font><font style="display:inline;color:#000000;font-size:10pt;"> of their outstanding balance.&nbsp;&nbsp;The remaining balances outstanding over </font><font style="display:inline;color:#000000;font-size:10pt;">60</font><font style="display:inline;color:#000000;font-size:10pt;"> days have a percentage applied by aging category </font><font style="display:inline;color:#000000;font-size:10pt;">(</font><font style="display:inline;color:#000000;font-size:10pt;">5%</font><font style="display:inline;color:#000000;font-size:10pt;"> for </font><font style="display:inline;color:#000000;font-size:10pt;">balances </font><font style="display:inline;color:#000000;font-size:10pt;">61</font><font style="display:inline;color:#000000;font-size:10pt;">-</font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days and </font><font style="display:inline;color:#000000;font-size:10pt;">20%</font><font style="display:inline;color:#000000;font-size:10pt;"> for balances over 90 days aged), based on a historical valuation that allows us to calculate the total reserve required.&nbsp;&nbsp;The reserve balance was determined by applying a percentage to the cumulative balance between </font><font style="display:inline;color:#000000;font-size:10pt;">60</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days and a higher percentage to the balance over </font><font style="display:inline;color:#000000;font-size:10pt;">90</font><font style="display:inline;color:#000000;font-size:10pt;"> days.&nbsp;&nbsp;In the event that we exhaust all collection efforts and deem an account uncollectible, we would subsequently write off the account.&nbsp;&nbsp;The write off process involves approval by senior management based on the write off amount.&nbsp;&nbsp;The allowance for doubtful accounts reserve balance was approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$166,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$94,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December 31, 2014, respectively.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company&#x2019;s customer base, thus spreading the trade credit risk. The Company also controls credit risk through credit approvals, credit limits and monitoring procedures.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventories</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Inventories</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories are comprised of implantable tissue, nerve grafts, Avance</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Graft, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Connector, AxoGuard</font><font style="display:inline;color:#000000;font-size:6.5pt;">&#xAE;</font><font style="display:inline;color:#000000;font-size:10pt;"> Nerve Protector, and supplies that are valued at the lower of cost (first-in, first-out) or market and consist of the following:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Finished goods</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,573,348
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,072,235
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Work in process</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,478
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,891
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Raw materials</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>897,929
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>809,494
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,701,755
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,213,620
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Inventories were net of reserve of approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$618,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and </font><font style="display:inline;color:#000000;font-size:10pt;">$404,000</font><font style="display:inline;color:#000000;font-size:10pt;"> at </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and December&nbsp;31, 2014, respectively.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Income Taxes</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company has not recorded current income tax expense due to the generation of net operating losses. Deferred income taxes are accounted for using the balance sheet approach which requires recognition of deferred tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting basis and the tax basis of assets and liabilities. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. A full valuation allowance has been established on the deferred tax asset as it is more likely than not that future tax benefit will not be realized. In addition, future utilization of the available net operating loss carryforward may be limited under Internal Revenue Code Section&nbsp;382 as a result of changes in ownership.</font>
		</p>
		<p style="margin:0pt;text-align:center;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more-likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the balance sheet. The Company has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the Company would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Company&#x2019;s remaining open tax years subject to examination by the Internal Revenue Service include the years ended December 31, 2011 through 2014; there currently are no examinations in process.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value of Financial Instruments</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Fair Value of Financial Instruments</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include cash, accounts receivable, accounts payable and accrued expenses. The fair value of the Company&#x2019;s long-term debt approximates its carrying value based upon current rates available to the Company.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-Based Compensation</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;text-indent:3pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Share-Based Compensation</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Stock-based compensation cost related to stock options granted under the AC 2002 Stock Option Plan </font><font style="display:inline;color:#000000;font-size:10pt;">(the &#x201C;AC Plan&#x201D;) </font><font style="display:inline;color:#000000;font-size:10pt;">and AxoGen 2010 Stock Incentive Plan</font><font style="display:inline;color:#000000;font-size:10pt;"> (the &#x201C;AxoGen Plan&#x201D; and, together with the AC Plan, the &#x201C;Plans&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> is measured at grant date, based on the fair value of the award, and is recognized as an expense over the employee&#x2019;s requisite service period. The Company estimates the fair value of each option award issued under the Plan</font><font style="display:inline;color:#000000;font-size:10pt;">s</font><font style="display:inline;color:#000000;font-size:10pt;"> on the date of grant using a Black-Scholes-Merton option-pricing model that uses the assumptions noted in the table below. The Company estimates the volatility of its common stock</font><a name="_cp_text_4_27"></a><font style="display:inline;color:#000000;font-size:10pt;">, par value $0.01 per share (the &#x201C;Common </font><font style="display:inline;color:#000000;font-size:10pt;">Stock&#x201D;)</font><font style="display:inline;color:#000000;font-size:10pt;"> at the date of grant based on the volatility of comparable peer companies which are publicly traded, for the periods prior to the October 2011 merger of LecTec, Inc. and </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, and based on the </font><font style="display:inline;color:#000000;font-size:10pt;">C</font><font style="display:inline;color:#000000;font-size:10pt;">ommon </font><font style="display:inline;color:#000000;font-size:10pt;">S</font><font style="display:inline;color:#000000;font-size:10pt;">tock for periods subsequent to such merger. The Company determines the expected life based on historical experience with similar awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. The Company uses the risk-free interest rate on the implied yield currently available on U.S. Treasury issues with an equivalent remaining term approximately equal to the expected life of the award. The Company has never paid any cash dividends on its </font><font style="display:inline;color:#000000;font-size:10pt;">Common Stock</font><font style="display:inline;color:#000000;font-size:10pt;"> and does not anticipate paying any cash dividends in the foreseeable future. The Company used the following weighted-average assumptions for options granted during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30:</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine months ended September 30, </font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
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				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected term (in years)</font></p>
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				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
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				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected volatility</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75.45
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79.76
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Risk free rate</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.27
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.23
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected dividends</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company estimates forfeitures when recognizing compensation expense and this estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures differ, or are expected to differ, from such estimates. Changes in estimated forfeitures are recognized through a cumulative catch-up adjustment, which is recognized in the period of change, and also impact the amount of unamortized compensation expense to be recognized in future periods. The Company did not apply a forfeiture allocation to its unvested options outstanding during the </font><font style="display:inline;color:#000000;font-size:10pt;">nine</font><font style="display:inline;color:#000000;font-size:10pt;"> months ended </font><font style="display:inline;color:#000000;font-size:10pt;">September</font><font style="display:inline;color:#000000;font-size:10pt;"> 30, 2015 and 2014 as they were deemed insignificant.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Use of Estimates</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The preparation of financial statements in conformity with </font><font style="display:inline;color:#000000;font-size:10pt;">GAAP</font><font style="display:inline;color:#000000;font-size:10pt;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and </font><font style="display:inline;color:#000000;font-size:10pt;">the </font><font style="display:inline;color:#000000;font-size:10pt;">disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font>
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		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent Accounting Pronouncements</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Recent Accounting Pronouncements</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03") which changes the presentation of debt issuance costs in financial statements to present such costs as a direct deduction from the related debt liability rather than as an asset. ASU 2015-03 will become effective for public companies during interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;line-height:120%;text-indent:9pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In February 2015, the FASB issued Accounting Standards Update No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis" ("ASU 2015-02") which updates the considerations on whether an entity should consolidate certain legal entities. The update removes the indefinite deferral of specialized guidance for certain investment funds and changes the way that entities evaluate limited partnerships and fees paid to service providers in the consolidation determination. ASU 2015-02 will become effective for public companies during interim and annual reporting periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Early adoption is permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements. </font>
		</p>
		<p style="margin:0pt;line-height:120%;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In January 2015, the FASB issued guidance, which completely eliminates all references to and guidance concerning the concept of an extraordinary item from GAAP. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In June 2014, the FASB issued updated guidance related to stock compensation. The amendment requires that a performance target that affects vesting and that could be achieved after the requisite period, be treated as a performance condition. The updated guidance is effective for annual reporting periods and interim periods within those annual periods beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015. Earlier adoption is permitted but we do not anticipate electing early adoption. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">In May 2014, the FASB issued a new standard on revenue recognition which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning </font><font style="display:inline;color:#000000;font-size:10pt;">after </font><font style="display:inline;color:#000000;font-size:10pt;">December 1</font><font style="display:inline;color:#000000;font-size:10pt;">5</font><font style="display:inline;color:#000000;font-size:10pt;">, 2016; however, </font><font style="display:inline;color:#000000;font-size:10pt;">on July 9, 2015, the FASB decided to delay the effective date of the new revenue standard by one year</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp;&nbsp;The proposed deferral may permit early adoption, but would not allow adoption any earlier than the original effective date of the standard. We are currently evaluating the impact this standard will have on our consolidated financial statements.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The Company&#x2019;s management has reviewed and considered all other recent accounting pronouncements and believe there are none that could potentially have a material impact on the Company&#x2019;s consolidated financial condition, results of operations, or disclosures.</font>
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		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 305<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Financial Reporting Release (FRR)<br><br><br><br> -Number 203<br><br><br><br> -Paragraph 02-03<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 60<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4492-108314<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4556-108314<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Financial Reporting Release (FRR)<br><br><br><br> -Number 206<br><br><br><br> -Paragraph b<br><br><br><br> -Subparagraph i, ii<br><br><br><br> -Chapter 2<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18823-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.B.Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section B<br><br><br><br> -Paragraph Question 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b),(f)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables.  If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6378556&amp;loc=d3e10133-111534<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5212-111524<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5093-111524<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3, 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br><br><br><br></p></div>
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<td class="text">&#160;<span></span>
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<td class="nump">29,885,688<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Tables)<br></strong></div></th>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Finished goods</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,573,348
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,072,235
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Work in process</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,478
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,891
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Raw materials</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>897,929
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>809,494
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;color:#000000;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,701,755
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,213,620
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of weighted-average assumptions for options granted</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">Nine months ended September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected term (in years)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected volatility</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75.45
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79.76
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Risk free rate</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.27
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.23
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:76.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Expected dividends</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:03.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt 3.3pt 0pt 0pt;text-align:right;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;"> &nbsp;&#x2014;</font></p>
				</td>
				<td valign="bottom" style="width:02.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">%</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 2<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph a,b,c<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfInventoryCurrentTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385512320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Operations - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>Condensed Consolidated Statements of Operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 8,153,675<span></span>
</td>
<td class="nump">$ 4,671,340<span></span>
</td>
<td class="nump">$ 19,522,244<span></span>
</td>
<td class="nump">$ 12,023,789<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">Cost of goods sold</a></td>
<td class="nump">1,410,416<span></span>
</td>
<td class="nump">896,178<span></span>
</td>
<td class="nump">3,433,138<span></span>
</td>
<td class="nump">2,485,299<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit</a></td>
<td class="nump">6,743,259<span></span>
</td>
<td class="nump">3,775,162<span></span>
</td>
<td class="nump">16,089,106<span></span>
</td>
<td class="nump">9,538,490<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Costs and expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingAndMarketingExpense', window );">Sales and marketing</a></td>
<td class="nump">5,512,613<span></span>
</td>
<td class="nump">3,250,977<span></span>
</td>
<td class="nump">14,257,397<span></span>
</td>
<td class="nump">9,326,596<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
<td class="nump">936,015<span></span>
</td>
<td class="nump">681,230<span></span>
</td>
<td class="nump">2,343,450<span></span>
</td>
<td class="nump">2,049,603<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="nump">2,212,457<span></span>
</td>
<td class="nump">1,645,859<span></span>
</td>
<td class="nump">6,103,058<span></span>
</td>
<td class="nump">5,254,082<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total costs and expenses</a></td>
<td class="nump">8,661,085<span></span>
</td>
<td class="nump">5,578,066<span></span>
</td>
<td class="nump">22,703,905<span></span>
</td>
<td class="nump">16,630,281<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
<td class="num">(1,917,826)<span></span>
</td>
<td class="num">(1,802,904)<span></span>
</td>
<td class="num">(6,614,799)<span></span>
</td>
<td class="num">(7,091,791)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other income (expense):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(1,042,258)<span></span>
</td>
<td class="num">(1,380,470)<span></span>
</td>
<td class="num">(3,060,779)<span></span>
</td>
<td class="num">(3,963,885)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Interest expense-deferred financing costs</a></td>
<td class="num">(31,419)<span></span>
</td>
<td class="num">(55,217)<span></span>
</td>
<td class="num">(96,375)<span></span>
</td>
<td class="num">(158,648)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other income (expense)</a></td>
<td class="nump">12,645<span></span>
</td>
<td class="nump">417<span></span>
</td>
<td class="nump">27,021<span></span>
</td>
<td class="num">(4,886)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other income (expense)</a></td>
<td class="num">(1,061,032)<span></span>
</td>
<td class="num">(1,435,270)<span></span>
</td>
<td class="num">(3,130,133)<span></span>
</td>
<td class="num">(4,127,419)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Loss</a></td>
<td class="num">$ (2,978,858)<span></span>
</td>
<td class="num">$ (3,238,174)<span></span>
</td>
<td class="num">$ (9,744,932)<span></span>
</td>
<td class="num">$ (11,219,210)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted Average Common Shares outstanding - basic and diluted</a></td>
<td class="nump">26,841,060<span></span>
</td>
<td class="nump">17,466,097<span></span>
</td>
<td class="nump">24,778,123<span></span>
</td>
<td class="nump">17,437,373<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Loss Per Common share - basic and diluted (in dollars per share)</a></td>
<td class="num">$ (0.11)<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.39)<span></span>
</td>
<td class="num">$ (0.64)<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCostsAndDiscounts</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs related to goods produced and sold during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.2(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfGoodsSold</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1,2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.7)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 730<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 985<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total amount of expenses directly related to the marketing or selling of products or services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021401375408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Notes Payable<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Notes Payable</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Notes Payable</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;Notes Payable</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Notes Payable consists of the following:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
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			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Term Loan and Revenue Interest Agreement with Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;) for a total term loan amount of </font><font style="display:inline;font-size:10pt;">$25,000,000</font><font style="display:inline;font-size:10pt;"> which has a </font><font style="display:inline;font-size:10pt;">six</font><font style="display:inline;font-size:10pt;"> year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at </font><font style="display:inline;font-size:10pt;">9.00%</font><font style="display:inline;font-size:10pt;"> per annum plus the greater of LIBOR or </font><font style="display:inline;font-size:10pt;">1.0%</font><font style="display:inline;font-size:10pt;"> which as of September 30, 2015 and December 31, 2014 resulted in a </font><font style="display:inline;font-size:10pt;">10%</font><font style="display:inline;font-size:10pt;"> rate. The Revenue Interest Agreement is for a period of </font><font style="display:inline;font-size:10pt;">ten</font><font style="display:inline;font-size:10pt;"> years. Royalty payments are based on a royalty rate of </font><font style="display:inline;font-size:10pt;">3.75%</font><font style="display:inline;font-size:10pt;"> of revenues up to a maximum of </font><font style="display:inline;font-size:10pt;">$30</font><font style="display:inline;font-size:10pt;"> million in revenues in any </font><font style="display:inline;font-size:10pt;">12</font><font style="display:inline;font-size:10pt;"> month period.</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Long-term portion</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,537,367
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.46%;border-top:2pt double #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,085,777
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Note Payable</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On October 5, 2012, AxoGen entered into a Revenue Interests Purchase Agreement (the &#x201C;Royalty Contract&#x201D;) with PDL BioPharma, Inc. (&#x201C;PDL&#x201D;), pursuant to which the Company sold to PDL the right to receive royalties equal to </font><font style="display:inline;font-size:10pt;">9.95%</font><font style="display:inline;font-size:10pt;"> of the Company&#x2019;s Net Revenues (as defined in the Royalty Contract) generated by the sale, distribution or other use of AxoGen&#x2019;s products Avance&#xAE; Nerve Graft, AxoGuard&#xAE; Nerve Connector and AxoGuard&#xAE; Nerve Protector.&nbsp;&nbsp;The Royalty Contract had a term of </font><font style="display:inline;font-size:10pt;">eight</font><font style="display:inline;font-size:10pt;"> years. Under the Royalty Contract, PDL received royalty payments based on a royalty rate of </font><font style="display:inline;font-size:10pt;">9.95%</font><font style="display:inline;font-size:10pt;"> of the Company&#x2019;s Net Revenues, subject to certain agreed upon minimum payment requirements, which were anticipated to be approximately </font><font style="display:inline;font-size:10pt;">$1.3</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">million </font><font style="display:inline;font-size:10pt;">to </font><font style="display:inline;font-size:10pt;">$2.5</font><font style="display:inline;font-size:10pt;"> million per quarter to begin in the fourth quarter of 2014 through the third quarter of 2020 as provided in the Royalty Contract. The Company recorded interest using its best estimate of the effective interest rate accruing interest using the specified internal rate of return of the Put Option of </font><font style="display:inline;font-size:10pt;">20%</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The total consideration PDL paid to the Company was </font><font style="display:inline;font-size:10pt;">$20,800,000</font><font style="display:inline;font-size:10pt;"> (the &#x201C;Funded Amount&#x201D;), which included </font><font style="display:inline;font-size:10pt;">$19,050,000</font><font style="display:inline;font-size:10pt;"> PDL paid to the Company on October&nbsp;5, 2012, and </font><font style="display:inline;font-size:10pt;">$1,750,000</font><font style="display:inline;font-size:10pt;"> PDL paid to the Company on August 14, 2012 pursuant to an Interim Revenue Interest Purchase Agreement between the Company and PDL, dated August 14, 2012 (the &#x201C;Interim Royalty Contract&#x201D;). Upon the closing (the &#x201C;Closing&#x201D;) of PDL&#x2019;s purchase of the specified royalties described above, which was concurrent with the execution of the Royalty Contract, the Interim Royalty Contract was terminated. On November 12, 2014, the Company paid PDL </font><font style="display:inline;font-size:10pt;">$30.3</font><font style="display:inline;font-size:10pt;"> million to fully extinguish the Royalty Contract.&nbsp;&nbsp;The Company has </font><font style="display:inline;font-size:10pt;">no</font><font style="display:inline;font-size:10pt;"> further obligations under the Royalty Contract.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On November 12, 2014, the Company sold </font><font style="display:inline;font-size:10pt;">643,382</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> for a total of </font><font style="display:inline;font-size:10pt;">$1.75</font><font style="display:inline;font-size:10pt;"> million to PDL (&#x201C;PDL Equity Sale&#x201D;) at a price of </font><font style="display:inline;font-size:10pt;">$2.72</font><font style="display:inline;font-size:10pt;"> per share pursuant to a Securities Purchase Agreement by and between the Company and PDL.&nbsp;&nbsp;The Company intends to use the proceeds from the PDL Equity Sale for general corporate purposes.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">Term Loan Agreement and Revenue Interest Agreement</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On November 12, 2014, (the &#x201C;Signing Date&#x201D;), AxoGen, as borrower, and AC, as guarantor, entered into a term loan agreement (the &#x201C;Term Loan Agreement&#x201D;) with the lenders party thereto and Three Peaks Capital S.a.r.l. (&#x201C;Three Peaks&#x201D;), an indirect wholly-owned subsidiary of Oberland Capital Healthcare Master Fund LP (&#x201C;Oberland&#x201D;), as administrative and collateral agent for the lenders</font><font style="display:inline;font-size:10pt;"> thereto</font><font style="display:inline;font-size:10pt;">. Under the Term Loan Agreement, Three Peaks has agreed to lend to AxoGen a term loan of </font><font style="display:inline;font-size:10pt;">$25</font><font style="display:inline;font-size:10pt;"> million (the &#x201C;Initial Term Loan&#x201D;) which has a </font><font style="display:inline;font-size:10pt;">six</font><font style="display:inline;font-size:10pt;"> year term and requires interest only payments and a final principal payment due at the end of the term. Interest is payable quarterly at </font><font style="display:inline;font-size:10pt;">9.00%</font><font style="display:inline;font-size:10pt;"> per annum plus the greater of </font><font style="display:inline;font-size:10pt;">LIBOR</font><font style="display:inline;font-size:10pt;"> or </font><font style="display:inline;font-size:10pt;">1.0%</font><font style="display:inline;font-size:10pt;"> which as of November 13, 2014 (&#x201C;the Initial Closing Date&#x201D;) resulted in a </font><font style="display:inline;font-size:10pt;">10%</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">interest </font><font style="display:inline;font-size:10pt;">rate. </font><font style="display:inline;font-size:10pt;">As of September 30, 2015 the Company has accrued </font><font style="display:inline;font-size:10pt;">$625,000</font><font style="display:inline;font-size:10pt;"> due for the third quarter interest which was paid on </font><font style="display:inline;font-size:10pt;">October 9, 2015</font><font style="display:inline;font-size:10pt;">.&nbsp;&nbsp;The amount is included in accrued expenses at September 30, 2015.&nbsp; </font><font style="display:inline;font-size:10pt;">Under certain conditions, AxoGen has the option to draw an additional </font><font style="display:inline;font-size:10pt;">$7</font><font style="display:inline;font-size:10pt;"> million (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;Subsequent Borrowing&#x201D; and, together with the Initial Term Loan, the &#x201C;Term Loan&#x201D;) during the period of April 1, 2016 through June 29, 2016 (the closing date of each such Subsequent Borrowing, a (&#x201C;Subsequent Closing Date&#x201D; and, together with the Initial Closing Date, the &#x201C;Closing Dates&#x201D;) under similar terms and conditions. AxoGen has to maintain certain covenants including limiting new indebtedness, restriction of the payment of dividends and maintain certain levels of revenue. Three Peaks has a first perfected security interest in the assets of AxoGen.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In addition, AxoGen entered into a </font><font style="display:inline;font-size:10pt;">10</font><font style="display:inline;font-size:10pt;"> year Revenue Interest Agreement (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;Revenue Interest Agreement&#x201D;) with Three Peaks. Royalty payments are based on a royalty rate of </font><font style="display:inline;font-size:10pt;">3.75%</font><font style="display:inline;font-size:10pt;"> of AxoGen&#x2019;s revenues up to a maximum of </font><font style="display:inline;font-size:10pt;">$30</font><font style="display:inline;font-size:10pt;"> million in revenues in any 12 month period. In the event the Subsequent Borrowing is drawn, the royalty rate increases proportionally up to a maximum of </font><font style="display:inline;font-size:10pt;">4.80%</font><font style="display:inline;font-size:10pt;"> &nbsp;&nbsp;AxoGen has to maintain certain covenants including those covenants under the Term Loan.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Under the Term Loan Agreement, AxoGen has the option at any time to prepay the Term Loan, in whole or in part, and the Royalty Interest Agreement, defined below, by making the following payment, and Three Peaks has the right to demand the following payment upon a change of control of AxoGen, sale of the majority of AxoGen&#x2019;s assets or a material adverse change to AxoGen: (i) on or prior to the first anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">120%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; (ii) after the first anniversary but no later than the second anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">135%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; (iii) after the second anniversary but no later than the third anniversary of the applicable Closing Date, </font><font style="display:inline;font-size:10pt;">150%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid; or (iv) after the third anniversary of the applicable Closing Date, an amount generating an </font><font style="display:inline;font-size:10pt;">i</font><font style="display:inline;font-size:10pt;">nternal </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">ate of </font><font style="display:inline;font-size:10pt;">r</font><font style="display:inline;font-size:10pt;">eturn of </font><font style="display:inline;font-size:10pt;">16.25%</font><font style="display:inline;font-size:10pt;"> of the outstanding principal amount of the Term Loan or any portion being prepaid. In all cases, the amount due is reduced by the sum of interest and principal previously paid and all amounts received under the Revenue Interest Agreement. In each such case AxoGen will also owe an additional </font><font style="display:inline;font-size:10pt;">3%</font><font style="display:inline;font-size:10pt;"> of the originally advanced Term Loan amount. Upon payment to Three Peaks, AxoGen would have no further obligations to Three Peaks under the Term Loan or the Revenue Interest Agreement.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">In connection with the Term Loan Agreement, on the Signing Date, the Company and </font><font style="display:inline;font-size:10pt;">AC, </font><font style="display:inline;font-size:10pt;">its wholly owned subsidiary, entered into a Security Agreement (the &#x201C;Security Agreement&#x201D;) with Three Peaks, pursuant to which each of the Company and AC grants to Three Peaks a security interest in certain collateral as specified in the Security Agreement to guarantee the payment in full when due of the </font><font style="display:inline;font-size:10pt;">s</font><font style="display:inline;font-size:10pt;">ecured </font><font style="display:inline;font-size:10pt;">o</font><font style="display:inline;font-size:10pt;">bligations.</font><font style="display:inline;font-size:10pt;"> &nbsp;In the event of default per the terms of the Term Loan Agreement Three Peaks would have the ability to foreclose on the pledged collateral and the Company and AC would not be able to continue its current business if such foreclosure occurred.&nbsp;&nbsp; </font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Also in connection with the above transaction, the Company sold </font><font style="display:inline;font-size:10pt;">1,375,969</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> to Three Peaks for a total of </font><font style="display:inline;font-size:10pt;">$3.55</font><font style="display:inline;font-size:10pt;"> million (&#x201C;Three Peaks Equity Sale&#x201D;) at a price of </font><font style="display:inline;font-size:10pt;">$2.58</font><font style="display:inline;font-size:10pt;"> per share.&nbsp;&nbsp;Pursuant to the equity purchase provisions in the Three Peaks Term Loan Agreement, in the event that prior to November 12, 2016</font><font style="display:inline;font-size:10pt;">, we sell</font><font style="display:inline;font-size:10pt;"> our securities at a lower price per share than the </font><font style="display:inline;font-size:10pt;">$2.58</font><font style="display:inline;font-size:10pt;"> per share paid by Three Peaks, or where the terms of such subsequent sale are otherwise more favorable, then in such case we have agreed to match the more favorable terms of such subsequent sale with respect to the shares purchased by Three Peaks. A subsequent sale does not include the issuance of securities or options to our employees, officers, directors or consultants pursuant to our approved employee option pool or any other employee stock purchase or option plan existing as of November 12, 2014.</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company records interest using its best estimate of the effective interest rate.&nbsp;&nbsp;This estimate takes into account both the rate on the Term Loan Agreement and the rate associated with the </font><font style="display:inline;font-size:10pt;">10</font><font style="display:inline;font-size:10pt;"> year Revenue Interest Agreement with Three Peaks.&nbsp;&nbsp;The effective interest rate is based on actual payments to date, projected future revenues and the projected royalty payments and the quarterly interest payments due on the Term Loan Agreement.&nbsp;&nbsp;From time to time, AxoGen will reevaluate the expected cash flows and may adjust the effective interest rate.&nbsp;&nbsp;Determining the effective interest rate requires judgment and is based on significant assumptions related to estimates of the amounts and timing of future revenue streams.&nbsp;&nbsp;Determination of these assumptions is highly subjective and different assumptions could lead to materially different outcomes.</font>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021395266384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounts Payable and Accrued Expenses<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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			<font style="display:inline;font-weight:bold;font-size:10pt;">6.</font><font style="display:inline;font-weight:bold;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;font-size:10pt;">Accounts Payable and Accrued Expenses</font>
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			<font style="display:inline;font-size:10pt;">Accounts payable and accrued expenses consists of the following:</font>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts payable</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,640,811
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,160,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Miscellaneous accruals</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>963,984
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105,315
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accrued compensation</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,481,512
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,165,020
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Accounts Payable and Accrued Expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,086,307
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,431,194
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt;">
			<font style="display:inline;font-size:1pt;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403605600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage', window );">Reserve for accounts deemed uncollectible (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts reserve balance</a></td>
<td class="nump">$ 166,000<span></span>
</td>
<td class="nump">$ 94,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable', window );">Age of doubtful accounts</a></td>
<td class="text">60 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember', window );">Age 61 to 90 Days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivablePercentage', window );">Reserve for doubtful accounts (as a percent)</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember', window );">Age 61 to 90 Days | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable', window );">Age of doubtful accounts</a></td>
<td class="text">61 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember', window );">Age 61 to 90 Days | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable', window );">Age of doubtful accounts</a></td>
<td class="text">90 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember', window );">Age Over 90 Days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivablePercentage', window );">Reserve for doubtful accounts (as a percent)</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember', window );">Age Over 90 Days | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts Receivable and Concentration of Credit Risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable', window );">Age of doubtful accounts</a></td>
<td class="text">90 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the age of specific types of trade accounts and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_AllowanceForDoubtfulAccountsReceivableAgeOfAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_AllowanceForDoubtfulAccountsReceivablePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the valuation allowance for receivables due, that are expected to be uncollectible, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_AllowanceForDoubtfulAccountsReceivablePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the reserve for accounts deemed uncollectible, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_ReserveForAccountsReceivableDeemedUncollectiblePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables60To89DaysPastDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivablesEqualToGreaterThan90DaysPastDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021625588736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property and Equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Schedule of Property and equipment</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Furniture and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,092,486
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>873,824
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Leasehold improvements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>338,399
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>285,697
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Processing equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,276,442
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,194,712
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated depreciation and amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,877,244)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,735,205)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:72.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Property and equipment</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>830,083
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:10.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,028
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
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			<font style="display:inline;">&nbsp;</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph b<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403657376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies.</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">10.&nbsp;&nbsp;Commitments and Contingencies</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Commercial Lease</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On April 21, 2015, </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> entered into a </font><font style="display:inline;font-size:10pt;">c</font><font style="display:inline;font-size:10pt;">ommercial </font><font style="display:inline;font-size:10pt;">l</font><font style="display:inline;font-size:10pt;">ease (the &#x201C;New Lease&#x201D;)</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">with Ja-Cole, L.P. </font><font style="display:inline;font-size:10pt;">(&#x201C;Ja-Cole&#x201D;)</font><font style="display:inline;font-size:10pt;">for property located in Burleson, Texas. The New Lease supersedes and replaces a current lease with Ja-Cole. Under the terms of the New Lease, </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> leased an additional </font><font style="display:inline;font-size:10pt;">2,100</font><font style="display:inline;font-size:10pt;"> square feet of warehouse space that will be combined with its current </font><font style="display:inline;font-size:10pt;">5,400</font><font style="display:inline;font-size:10pt;"> square feet of warehouse/office space in Burleson, Texas.&nbsp;&nbsp;&nbsp;The New Lease is for a </font><font style="display:inline;font-size:10pt;">three</font><font style="display:inline;font-size:10pt;"> year term expiring April 21, 2018, renewable thereafter by agreement of the parties, at an annual cost of </font><font style="display:inline;font-size:10pt;">$60,000</font><font style="display:inline;font-size:10pt;"> per year.&nbsp;&nbsp;The expanded Burleson facility will house raw material storage and product distribution and allow expansion space as required for </font><font style="display:inline;font-size:10pt;">AC</font><font style="display:inline;font-size:10pt;"> operations. </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">Processing Agreement</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Under an Amended and Restated Nerve Tissue Processing Agreement (the &#x201C;</font><font style="display:inline;font-size:10pt;">LifeNet </font><font style="display:inline;font-size:10pt;">Agreement&#x201D;) with LifeNet Health</font><font style="display:inline;font-size:10pt;"> (&#x201C;LifeNet&#x201D;)</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">the Company</font><font style="display:inline;font-size:10pt;"> processes and packages Avance&#xAE; Nerve Graft using its employees and equipment located at LifeNet, Virginia Beach, Virginia.&nbsp;&nbsp;As a result of business requirements of LifeNet and their need for additional space</font><font style="display:inline;font-size:10pt;">, &nbsp;</font><font style="display:inline;font-size:10pt;">on April 16, 2015 </font><font style="display:inline;font-size:10pt;">LifeNet</font><font style="display:inline;font-size:10pt;"> notified </font><font style="display:inline;font-size:10pt;">the Company</font><font style="display:inline;font-size:10pt;"> that it will need to transition out of the Virginia Beach facility on or before February 27, 2016 and therefore is terminating the </font><font style="display:inline;font-size:10pt;">LifeNet </font><font style="display:inline;font-size:10pt;">Agreement effective February 27, </font><font style="display:inline;font-size:10pt;">2016.&nbsp;&nbsp; </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">A</font><font style="display:inline;color:#000000;font-size:10pt;">s a result of the termination of the LifeNet Agreement, on August 6, 2015 the Company entered into a License and Services Agreement (the &#x201C;CTS Agreement&#x201D;) with&nbsp;Community Blood Center&nbsp;(d/b/a Community Tissue Services) (&#x201C;CTS&#x201D;) whose headquarters are located in Dayton, Ohio.&nbsp;&nbsp;The CTS facility and CTS Agreement will provide the Company a cost effective, quality controlled and licensed facility&nbsp;to process and package its Avance&#xAE; Nerve Graft using its employees and processing equipment.&nbsp;&nbsp;It is anticipated that processing currently being performed at LifeNet will be transferred completely to the CTS facility by the end of first quarter of 2016&nbsp;&nbsp;It is anticipated that the Company will have approximately </font><font style="display:inline;color:#000000;font-size:10pt;">$400,000</font><font style="display:inline;color:#000000;font-size:10pt;"> of capital expenditures for the placement of equipment and build-out at this facility.&nbsp; &nbsp; &nbsp; &nbsp; </font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">The CTS Agreement is for a </font><font style="display:inline;color:#000000;font-size:10pt;">five</font><font style="display:inline;color:#000000;font-size:10pt;"> year term, subject to earlier termination by either party for cause, or after the </font><font style="display:inline;color:#000000;font-size:10pt;">two</font><font style="display:inline;color:#000000;font-size:10pt;"> year anniversary of the CTS Agreement without cause, upon </font><font style="display:inline;color:#000000;font-size:10pt;">180</font><font style="display:inline;color:#000000;font-size:10pt;"> days&#x2019; notice.&nbsp;Under the CTS Agreement, the Company pays CTS a facility fee for clean room/processing, storage and office space.&nbsp;&nbsp;Under the CTS Agreement, CTS also provides services in support of the Company&#x2019;s processing such as routine sterilization of daily supplies, providing disposable supplies, microbial services and office support.&nbsp;&nbsp;The service fee is based on a per donor batch rate.&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 460<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51674963&amp;loc=d3e12565-110249<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 440<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021395268976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock Options</a></td>
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		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">8.&nbsp;&nbsp;&nbsp;&nbsp;Stock Options </font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-size:10pt;">The Company granted stock options to purchase </font><font style="display:inline;font-size:10pt;">376,000</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;">Common Stock</font><font style="display:inline;font-size:10pt;"> pursuant to </font><font style="display:inline;font-size:10pt;">the AxoGen</font><font style="display:inline;font-size:10pt;"> Plan for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.&nbsp;&nbsp;Stock-based compensation expense was </font><font style="display:inline;font-size:10pt;">$334,593</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$227,553</font><font style="display:inline;font-size:10pt;"> for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively and </font><font style="display:inline;font-size:10pt;">$1,031,218</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$701,697</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively. </font><font style="display:inline;font-size:10pt;">During the quarter, the company granted stock options to purchase </font><font style="display:inline;font-size:10pt;">108,000</font><font style="display:inline;font-size:10pt;"> shares of Common Stock that are contingent upon certain future events.&nbsp; </font><font style="display:inline;font-size:10pt;">No</font><font style="display:inline;font-size:10pt;"> stock compensation expense has been recorded for these options due to the uncertainty of those future events.&nbsp; </font><font style="display:inline;font-size:10pt;">Total future stock compensation expense related to nonvested awards is expected to be approximately </font><font style="display:inline;font-size:10pt;">$2,046,000</font><font style="display:inline;font-size:10pt;"> at </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015.</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403657376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Public Offering of Common Stock<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Public Offering of Common Stock</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Public Offering of Common Stock</a></td>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">9.&nbsp;&nbsp;&nbsp;Public Offering of Common Stock</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">On February 5, 2015, AxoGen entered into </font><font style="display:inline;font-size:10pt;">an u</font><font style="display:inline;font-size:10pt;">nderwriting </font><font style="display:inline;font-size:10pt;">a</font><font style="display:inline;font-size:10pt;">greement with </font><font style="display:inline;font-size:10pt;">Wedbush Securities Inc. (</font><font style="display:inline;font-size:10pt;">the </font><font style="display:inline;font-size:10pt;">&#x201C;</font><font style="display:inline;font-size:10pt;">Underwriter</font><font style="display:inline;font-size:10pt;">&#x201D;)</font><font style="display:inline;font-size:10pt;"> in connection with the offering, issuance and sale (the &#x201C;</font><font style="display:inline;font-size:10pt;"> February 2015 </font><font style="display:inline;font-size:10pt;">Offering&#x201D;) of </font><font style="display:inline;font-size:10pt;">4,728,000</font><font style="display:inline;font-size:10pt;"> shares of </font><font style="display:inline;font-size:10pt;"> Common Stock</font><font style="display:inline;font-size:10pt;">, at a price to the public of </font><font style="display:inline;font-size:10pt;">$2.75</font><font style="display:inline;font-size:10pt;"> per share.&nbsp; The Company also granted to the Underwriter a </font><font style="display:inline;font-size:10pt;">30</font><font style="display:inline;font-size:10pt;">-day option to purchase up to an aggregate of </font><font style="display:inline;font-size:10pt;">709,200</font><font style="display:inline;font-size:10pt;"> additional </font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;"> to cover over-allotments, if any.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-family:Times-Roman;font-size:10pt;">As of February 13, 2015, the </font><font style="display:inline;font-family:Times-Roman;font-size:10pt;">February 2015 </font><font style="display:inline;font-family:Times-Roman;font-size:10pt;">Offering was completed with the sale of </font><font style="display:inline;font-size:10pt;">5,437,200</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;"> including all 709,200 shares of Common stock issued pursuant to the Underwriter&#x2019;s</font><font style="display:inline;font-size:10pt;"> exercise of </font><font style="display:inline;font-size:10pt;">its</font><font style="display:inline;font-size:10pt;"> over-allotment option, resulting in gross proceeds to AxoGen from the </font><font style="display:inline;font-size:10pt;">February 2015 </font><font style="display:inline;font-size:10pt;">Offering of approximately </font><font style="display:inline;font-size:10pt;">$15.0</font><font style="display:inline;font-size:10pt;"> million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by AxoGen estimated at approximately </font><font style="display:inline;font-size:10pt;">$1.4</font><font style="display:inline;font-size:10pt;"> million. The </font><font style="display:inline;font-size:10pt;">shares of Common Stock</font><font style="display:inline;font-size:10pt;"> were listed on the NASDAQ Capital Market.</font><font style="display:inline;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display:inline;font-size:10pt;">The February 2015 </font><a name="_cp_text_4_111"></a><font style="display:inline;font-size:10pt;">Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the </font><a name="_cp_text_1_112"></a><font style="display:inline;font-size:10pt;">SEC on April 30, 2014</font><a name="_cp_text_4_113"></a><font style="display:inline;font-size:10pt;">, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated February 5, 2015.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-size:10pt;">On August 26, 2015, Company entered into a Securities Purchase Agreement (the &#x201C;Purchase Agreement&#x201D;) with Essex Woodlands Fund IX, L.P. (&#x201C;ESSEX&#x201D;) for the purchase of </font><font style="display:inline;font-size:10pt;">4,861,111</font><font style="display:inline;font-size:10pt;"> shares of Common Stock, at a public offering price of </font><font style="display:inline;font-size:10pt;">$3.60</font><font style="display:inline;font-size:10pt;"> per share (the &#x201C;August 2015 Offering).&nbsp;&nbsp;The expenses directly related to the August 2015 Offering were </font><font style="display:inline;font-size:10pt;">$300,000</font><font style="display:inline;font-size:10pt;"> of which </font><font style="display:inline;font-size:10pt;">$181,000</font><font style="display:inline;font-size:10pt;"> has been paid by the Company.&nbsp;&nbsp;Such expenses included the Company&#x2019;s legal and accounting fees, printing expenses, transfer agent fees and miscellaneous fees and costs related to the August 2015 Offering.&nbsp;&nbsp;Proceeds from the August 2015 Offering of approximately </font><font style="display:inline;font-size:10pt;">$17.</font><font style="display:inline;font-size:10pt;">2</font><font style="display:inline;font-size:10pt;"> million will be used for sales and marketing and general working capital purposes.&nbsp;&nbsp;The Company has provided certain demand and &#x201C;piggy-back&#x201D; registration rights in connection with this sale of Common Stock.</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-size:10pt;">The August 2015 Offering was made pursuant to the Company&#x2019;s effective shelf registration statement on Form S-3 (Registration No. 333-195588) previously filed with the SEC on April 30, 2014, and pursuant to the prospectus supplement and the accompanying prospectus describing the terms of the Offering, dated August 26, 2015.</font>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021401375408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Event</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">11.&nbsp;&nbsp;Subsequent Events</font>
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		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">On November </font><font style="display:inline;color:#000000;font-size:10pt;">4</font><font style="display:inline;color:#000000;font-size:10pt;">, 2015, </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> exercised its option right pursuant to the Development, License &amp; Option Agreement (the &#x201C;Agreement&#x201D;), dated November 3, 2014 made </font><font style="display:inline;color:#000000;font-size:10pt;">by and </font><font style="display:inline;color:#000000;font-size:10pt;">between </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> and Sensory Management Services LLC (&#x201C;SMS&#x201D;).&nbsp;&nbsp;SMS developed and sold a pressure-specified sensory device (&#x201C;PSSD&#x201D;) for use in evaluating patients with peripheral nerve conditions.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> entered into the Agreement to validate and develop an updated PSSD </font><font style="display:inline;color:#000000;font-size:10pt;">to be named</font><font style="display:inline;color:#000000;font-size:10pt;"> the AcroVal&#x2122; Ne</font><font style="display:inline;color:#000000;font-size:10pt;">urosensory &amp; Motor Testing System</font><font style="display:inline;color:#000000;font-size:10pt;"> (the &#x201C;AcroVal&#x2122;&#x201D;) and SMS granted </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> an option pursuant to the Agreement to purchase the assets and technology necessary to own and commercialize the PSSD.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">&#x2019;s validation of the PSSD, and development of the AcroVal&#x2122;, were positive</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> leading to the exercise of the option and acquisition of the rights and assets related to the PSSD. </font>
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		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;"> intends to launch the AcroVal&#x2122; in</font><font style="display:inline;color:#000000;font-size:10pt;"> the</font><font style="display:inline;color:#000000;font-size:10pt;"> first quarter of 2016 through its current sales channel. Evaluating patients with peripheral nerve conditions is essential to confirming diagnosis, mapping a course of action and monitoring post-intervention results. Although </font><font style="display:inline;color:#000000;font-size:10pt;">examiners of</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral nerves have many </font><font style="display:inline;color:#000000;font-size:10pt;">assessment </font><font style="display:inline;color:#000000;font-size:10pt;">options, there is little consistency on measurement protocols. With the AcroVal&#x2122; Ne</font><font style="display:inline;color:#000000;font-size:10pt;">urosensory &amp; Motor Testing System</font><font style="display:inline;color:#000000;font-size:10pt;">, &nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">AC anticipates that </font><font style="display:inline;color:#000000;font-size:10pt;">examiners will have digital, less subjective results for their patients with conditions </font><font style="display:inline;color:#000000;font-size:10pt;">such as</font><font style="display:inline;color:#000000;font-size:10pt;"> peripheral neuropathy, nerve compression syndromes, and transected nerves. Ultimately, standardization of assessment techniques will facilitate comparison and interpretation of clinical results leading to better understanding and care for patients with pe</font><font style="display:inline;color:#000000;font-size:10pt;">ripheral nerve conditions.</font>
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		<p style="margin:0pt;text-indent:24.5pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;color:#000000;font-size:10pt;">Upon exercise of the option </font><font style="display:inline;color:#000000;font-size:10pt;">AC </font><font style="display:inline;color:#000000;font-size:10pt;">paid a fee of </font><font style="display:inline;color:#000000;font-size:10pt;">$15,000</font><font style="display:inline;color:#000000;font-size:10pt;"> and is obligated to pay</font><font style="display:inline;color:#000000;font-size:10pt;"> prior development fees owed by SMS o</font><font style="display:inline;color:#000000;font-size:10pt;">f up to</font><font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;color:#000000;font-size:10pt;">$39,500</font><font style="display:inline;color:#000000;font-size:10pt;">.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">Commencing November 4, 2015 and for a </font><font style="display:inline;color:#000000;font-size:10pt;">ten</font><font style="display:inline;color:#000000;font-size:10pt;"> year period, AC</font><font style="display:inline;color:#000000;font-size:10pt;"> will also pay to SMS a </font><font style="display:inline;color:#000000;font-size:10pt;">15%</font><font style="display:inline;color:#000000;font-size:10pt;"> royalty on sales of AcroVal&#x2122; and </font><font style="display:inline;color:#000000;font-size:10pt;">AC </font><font style="display:inline;color:#000000;font-size:10pt;">will provide SMS an AcroVal&#x2122; instrument, with upgrades</font><font style="display:inline;color:#000000;font-size:10pt;">,</font><font style="display:inline;color:#000000;font-size:10pt;"> for </font><font style="display:inline;color:#000000;font-size:10pt;">10</font><font style="display:inline;color:#000000;font-size:10pt;"> years, without cost.&nbsp;&nbsp;The </font><font style="display:inline;color:#000000;font-size:10pt;">SMS </font><font style="display:inline;color:#000000;font-size:10pt;">Agreement also provides for certain payments in the event that certain milestones are obtained during the royalty term.&nbsp; </font><font style="display:inline;color:#000000;font-size:10pt;">AC</font><font style="display:inline;color:#000000;font-size:10pt;">, as a result of</font><font style="display:inline;color:#000000;font-size:10pt;"> such option</font><font style="display:inline;color:#000000;font-size:10pt;"> exercise, </font><font style="display:inline;color:#000000;font-size:10pt;">now </font><font style="display:inline;color:#000000;font-size:10pt;">has ownership of all necessary technology, information and know-how necessary for its commercialization of the AcroVal&#x2122;. </font>
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			<font style="display:inline;color:#000000;font-size:10pt;">&nbsp;</font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403401328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation</a></td>
<td class="nump">$ 334,593<span></span>
</td>
<td class="nump">$ 227,553<span></span>
</td>
<td class="nump">$ 1,031,218<span></span>
</td>
<td class="nump">$ 701,697<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Total future stock compensation expense related to nonvested awards</a></td>
<td class="nump">$ 2,046,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,046,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Stock Options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Stock options granted (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">376,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=axgn_StockOptionsContingentUponCertainFutureEventsMember', window );">Stock Options, Contingent Upon Certain Future Events [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Stock options granted (in shares)</a></td>
<td class="nump">108,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr>
<td><strong> Name:</strong></td>
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<html>
<head>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403652864">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounts Payable and Accrued Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>Accounts Payable and Accrued Expenses</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of accounts payable and accrued expenses</a></td>
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		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December&nbsp;31,</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accounts payable</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,640,811
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,160,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Miscellaneous accruals</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>963,984
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105,315
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Accrued compensation</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,481,512
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,165,020
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:74.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Accounts Payable and Accrued Expenses</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,086,307
				</td>
				<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:09.42%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,431,194
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PayablesAndAccrualsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021392438624">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property and Equipment (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less: accumulated depreciation and amortization</a></td>
<td class="num">$ (1,877,244)<span></span>
</td>
<td class="num">$ (1,735,205)<span></span>
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</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment</a></td>
<td class="nump">830,083<span></span>
</td>
<td class="nump">619,028<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=axgn_FurnitureAndOfficeEquipmentMember', window );">Furniture and Office Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, Gross</a></td>
<td class="nump">1,092,486<span></span>
</td>
<td class="nump">873,824<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, Gross</a></td>
<td class="nump">338,399<span></span>
</td>
<td class="nump">285,697<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_EquipmentMember', window );">Processing equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, Gross</a></td>
<td class="nump">$ 1,276,442<span></span>
</td>
<td class="nump">$ 1,194,712<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=axgn_FurnitureAndOfficeEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_EquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_EquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385458688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Consolidated Statements of Cash Flows - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (9,744,932)<span></span>
</td>
<td class="num">$ (11,219,210)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used for operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation</a></td>
<td class="nump">142,038<span></span>
</td>
<td class="nump">111,390<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of intangible assets</a></td>
<td class="nump">34,009<span></span>
</td>
<td class="nump">33,468<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred financing costs</a></td>
<td class="nump">96,375<span></span>
</td>
<td class="nump">158,648<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation</a></td>
<td class="nump">1,031,218<span></span>
</td>
<td class="nump">701,697<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Stock grants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,125<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaidInKindInterest', window );">Interest added to note</a></td>
<td class="nump">451,590<span></span>
</td>
<td class="nump">2,810,182<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Change in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
<td class="num">(1,770,494)<span></span>
</td>
<td class="num">(849,342)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventory</a></td>
<td class="num">(488,135)<span></span>
</td>
<td class="nump">52,323<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other</a></td>
<td class="num">(180,862)<span></span>
</td>
<td class="nump">195,796<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">1,655,114<span></span>
</td>
<td class="num">(63,848)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(16,187)<span></span>
</td>
<td class="num">(10,714)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net cash used for operating activities</a></td>
<td class="num">(8,790,266)<span></span>
</td>
<td class="num">(8,019,485)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of property and equipment</a></td>
<td class="num">(353,093)<span></span>
</td>
<td class="num">(342,875)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireIntangibleAssets', window );">Acquisition of intangible assets</a></td>
<td class="num">(92,184)<span></span>
</td>
<td class="num">(39,454)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash used for investing activities</a></td>
<td class="num">(445,277)<span></span>
</td>
<td class="num">(382,329)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from exercise of stock options</a></td>
<td class="nump">164,626<span></span>
</td>
<td class="nump">134,672<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from issuance of common stock</a></td>
<td class="nump">30,970,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDebtIssuanceCosts', window );">Debt issuance costs</a></td>
<td class="num">(180,142)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
<td class="nump">30,955,219<span></span>
</td>
<td class="nump">134,672<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase/(decrease) in cash and cash equivalents</a></td>
<td class="nump">21,719,676<span></span>
</td>
<td class="num">(8,267,142)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, beginning of year</a></td>
<td class="nump">8,215,791<span></span>
</td>
<td class="nump">20,069,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, end of period</a></td>
<td class="nump">29,935,467<span></span>
</td>
<td class="nump">11,802,608<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosures of cash flow activity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Cash paid for interest</a></td>
<td class="nump">$ 1,949,381<span></span>
</td>
<td class="nump">$ 1,154,738<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 230<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaidInKindInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaidInKindInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDebtIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDebtIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (j)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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<td>xbrli:stringItemType</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021401222640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract', window );"><strong>Intangible Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsDisclosureTextBlock', window );">Intangible Assets</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
		<p style="margin:0pt 0pt 0pt 18pt;text-indent: -18pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;Intangible Assets </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company&#x2019;s intangible assets consist of the following:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 80.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">License agreements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>876,063
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>850,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Patents</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146,976
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,996
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(387,690)
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(353,681)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Intangible assets, net</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>635,349
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>577,174
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">License agreements are being amortized over periods ranging from </font><font style="display:inline;font-size:10pt;">17</font><font style="display:inline;font-size:10pt;">-</font><font style="display:inline;font-size:10pt;">20</font><font style="display:inline;font-size:10pt;"> years. Patent costs were being amortized over </font><font style="display:inline;font-size:10pt;">three</font><font style="display:inline;font-size:10pt;"> years. As of </font><font style="display:inline;font-size:10pt;">September 30, 2015</font><font style="display:inline;font-size:10pt;">, the patents were fully amortized, and the remaining patents of </font><font style="display:inline;font-size:10pt;">$146,976</font><font style="display:inline;font-size:10pt;"> were pending patent costs and were not amortizable. Amortization expense was approximately </font><font style="display:inline;font-size:10pt;">$11,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$11,000</font><font style="display:inline;font-size:10pt;"> for the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;"> and approximately </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">34</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$</font><font style="display:inline;font-size:10pt;">33</font><font style="display:inline;font-size:10pt;">,000</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively. As of </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015, future amortization of license agreements</font><font style="display:inline;font-size:10pt;"> for the next five years</font><font style="display:inline;font-size:10pt;"> is expected to be </font><font style="display:inline;font-size:10pt;">$14,000</font><font style="display:inline;font-size:10pt;"> for the remainder of </font><font style="display:inline;font-size:10pt;">2015</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">and</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">$48,000</font><font style="display:inline;font-size:10pt;"> for </font><font style="display:inline;font-size:10pt;">2016</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">through</font><font style="display:inline;font-size:10pt;">&nbsp;</font><font style="display:inline;font-size:10pt;">2020</font><font style="display:inline;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;font-size:10pt;text-decoration:underline;">License Agreements</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">The Company has entered into multiple license agreements (the &#x201C;License Agreements&#x201D;) with the University of Florida Research Foundation (&#x201C;UFRF&#x201D;) and University of Texas at Austin (&#x201C;UTA&#x201D;). Under the terms of the License Agreements, the Company acquired exclusive worldwide licenses for underlying technology used in repairing and regenerating nerves. The licensed technologies include the rights to issued patents and patents pending in the United States and international markets. The effective term of the License Agreements extends through the term of the related patents and the agreements may be terminated by the Company with </font><font style="display:inline;font-size:10pt;">60</font><font style="display:inline;font-size:10pt;"> days prior written notice. Additionally, in the event of default, licensors may terminate an agreement if the Company fails to cure a breach after written notice. The License Agreements contain the key terms listed below:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">AxoGen pays royalty fees ranging from </font><font style="display:inline;font-size:10pt;color:#000000;">1%</font><font style="display:inline;font-size:10pt;color:#000000;"> to </font><font style="display:inline;font-size:10pt;color:#000000;">3%</font><font style="display:inline;font-size:10pt;color:#000000;"> under the License Agreements based on net sales of licensed products.&nbsp;One of the agreements also contains a minimum royalty of </font><font style="display:inline;font-size:10pt;color:#000000;">$12,500</font><font style="display:inline;font-size:10pt;color:#000000;"> per quarter, which may include a credit in future quarters in the same calendar year for the amount the minimum royalty exceeds the royalty fees.&nbsp;Also, when AxoGen pays royalties to more than one licensor for sales of the same product, a royalty stack cap applies, capping total royalties at </font><font style="display:inline;font-size:10pt;color:#000000;">3.75%;</font><font style="display:inline;font-size:10pt;color:#000000;">&nbsp;</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">If AxoGen sublicenses technologies covered by the License Agreements to third parties, AxoGen would pay a percentage of sublicense fees received from the third party to the licensor.&nbsp;Currently, AxoGen does not sublicense any technologies covered by License Agreements. The Company is not considered a sub-licensee under the License Agreements and does not owe any sublicensee fees for its own use of the technologies; </font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">AxoGen reimburses the licensors for certain legal expenses incurred for patent prosecution and defense of the technologies covered by the License Agreements; and </font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"><p style="width:18pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt; display: inline;">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
				<font style="margin:0pt;font-family:Symbol;font-size:10pt;;"> &#xB7;</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 10pt;margin:0pt;">
			<font style="display:inline;font-size:10pt;color:#000000;">Currently, under one of the License Agreements, AxoGen would owe a </font><font style="display:inline;font-size:10pt;color:#000000;">$15,000</font><font style="display:inline;font-size:10pt;color:#000000;"> milestone fee upon receiving a Phase II Small Business Innovation Research or Phase II Small Business Technology Transfer grant involving the licensed technology. The Company has not received either grant and does not owe such a milestone fee.&nbsp;Other milestone fees are due if AxoGen develops certain pharmaceutical or medical device products under the License Agreements. </font><font style="display:inline;font-size:10pt;color:#000000;">No</font><font style="display:inline;font-size:10pt;color:#000000;"> such products are currently under development.</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
			<font style="display:inline;font-size:10pt;">Royalty fees were </font><font style="display:inline;font-size:10pt;">approximately </font><font style="display:inline;font-size:10pt;">$162,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$93,000</font><font style="display:inline;font-size:10pt;"> during the three months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively</font><font style="display:inline;font-size:10pt;">,</font><font style="display:inline;font-size:10pt;"> and were </font><font style="display:inline;font-size:10pt;">$379,000</font><font style="display:inline;font-size:10pt;"> and </font><font style="display:inline;font-size:10pt;">$238,000</font><font style="display:inline;font-size:10pt;"> for the </font><font style="display:inline;font-size:10pt;">nine</font><font style="display:inline;font-size:10pt;"> months ended </font><font style="display:inline;font-size:10pt;">September</font><font style="display:inline;font-size:10pt;"> 30, 2015 and 2014, respectively, and are included in sales and marketing expense on the accompanying condensed consolidated statements of operations.</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021403571520">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets consist of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Less: accumulated amortization</a></td>
<td class="num">$ (387,690)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (387,690)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (353,681)<span></span>
</td>
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<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Intangible assets, net</a></td>
<td class="nump">635,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">635,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">577,174<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="nump">11,000<span></span>
</td>
<td class="nump">$ 11,000<span></span>
</td>
<td class="nump">34,009<span></span>
</td>
<td class="nump">$ 33,468<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets consist of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Finite-lived intangible assets, gross</a></td>
<td class="nump">876,063<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 876,063<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">850,859<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements | Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets consist of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1', window );">Amortization period of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">17 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember', window );">Licensing Agreements | Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets consist of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1', window );">Amortization period of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_PatentsMember', window );">Patents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Intangible assets consist of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Finite-lived intangible assets, gross</a></td>
<td class="nump">$ 146,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 146,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">79,996<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1', window );">Amortization period of intangible assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_axgn_NonamortizablePendingPatentCosts', window );">Non-amortizable pending costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 146,976<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_axgn_NonamortizablePendingPatentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents capitalized costs related to patents that are pending, not currently subject to amortization. Amount is included in total of finite lived intangible assets gross.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">axgn_NonamortizablePendingPatentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>axgn_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LicensingAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm140021385278192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract', window );"><strong>Intangible Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock', window );">Schedule of intangible assets</a></td>
<td class="text"><div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">
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						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">September 30, </font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
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						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
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				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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			<tr>
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					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-size:8pt;">&nbsp;</font></p>
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				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2015</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">2014</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
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				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
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				<td colspan="2" valign="bottom" style="width:00.02%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt;">
						<font style="display:inline;font-weight:bold;font-size:8pt;">(unaudited)</font></p>
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">License agreements</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>876,063
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>850,859
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Patents</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146,976
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,996
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">Less: accumulated amortization</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(387,690)
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(353,681)
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:75.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;font-size:10pt;">Intangible assets, net</font></p>
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>635,349
				</td>
				<td valign="bottom" style="width:01.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:01.14%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt;">
						<font style="display:inline;font-size:10pt;">$</font></p>
				</td>
				<td valign="bottom" style="width:08.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;padding-right:3.3pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>577,174
				</td>
				<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:0%;margin-right:0%;">
		<p><font size="1"> </font></p></div><div style="margin-left:0%;margin-right:0%;"></div> </div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
