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Note 14 - Restructuring Credits
 9 Months Ended
Sep. 30, 2014
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]
14. Restructuring Credits

In December 2012, the Company announced the closure of its tissue engineering facility in Abano Terme, Italy due to the Company’s inability to meet strict regulatory standards established by the European Medicines Agency (“EMA”) for Advanced Therapy Medicinal Products, which became effective on January 1, 2013. The restructuring plan involved a workforce reduction as well as associated asset abandonments. The Company recorded restructuring and impairment charges in the fourth quarter of 2012 of approximately $2.5 million. Of the total restructuring and impairment charges related to the tissue engineering operation, approximately $1.2 million was related to the non-cash termination and related impairment of an IPR&D project, $0.3 million was related to the disposal of property and equipment, and $0.1 million was related to the disposal of inventory. We completed the restructuring plan and related activities in 2013. Certain previously impaired and written-off equipment was sold, resulting in restructuring credits of $196,084 and $442,869 in the three and nine months ended September 30, 2013, respectively.


The following table summarizes restructuring accrual activity for the nine-period ended September 30, 2014:


    Restructuring Accrual
   

Employee

Severance and

Related Benefits

 

Activity

Termination and

Facility Closure

Costs

  Total
December 31, 2013   $ 21,709     $ 2,929     $ 24,638  
Cash Proceeds (Disbursements)     (10,130 )     (1,425 )     (11,555 )
Foreign Exchange Impact     (1,050 )     (124 )     (1,174 )
September 30, 2014   $ 10,529     $ 1,380     $ 11,909