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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Significant components of deferred tax assets and liabilities

Deferred tax assets:
Net operating loss and tax credit carryforwards		$	49,796,627
Capital loss carryforward			386,151
Accrued expenses			62,829
Reserve for accounts receivable			2,094,123
Reserve for inventory			133,584
Start-up costs			107,422
Excess of book over tax depreciation			1,158,737
Stock option and restricted stock award expense			1,454,572
Investment in unconsolidated entity			3,707,636
Less: valuation allowance			(57,719,607	)
		$	1,182,074
Deferred tax liability:
Property and equipment basis		$	69,484
Prepaid expenses			1,112,590
		$	1,182,074
Net deferred tax asset		$	—

Schedule of change in valuation allowance

June 30, 2012		$	57,719,607
December 31, 2011			52,515,797
Change in valuation allowance		$	5,203,810

Schedule of income (loss) before income taxes

		June 30, 2012				June 30, 2011
Expected (benefit)		$	(7,164,530	)		$	(2,415,560	)
State income taxes net of federal benefits			(191,873	)			(138,430	)
Nondeductible expense			8,050				7,920
Stock options and restricted stock awards			240,265				188,855
Derivatives			1,667,465				198,771
Change in valuation allowance			5,203,811				1,752,527
Effects of:
Change in apportionment estimate			—				406,193
Change in net operating loss estimate			610,863				—
Change in capital loss carryover estimate			(374,051	)			—
Other, net			—				(276	)
		$	—			$	—

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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