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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Components of the Company's deferred tax assets

		December 31,
		2014			2013
Deferred Tax Assets
Net operating loss carryforward		$	23,030,884		$	21,492,311
Amortization		—			(823,367		)
Stock option compensation		6,083,848			5,841,333
Deferred compensation		—			1,563,754
Deferred state tax		—			(1,904,277		)
Other		26,783			105,179
Valuation allowance		(29,141,515		)	(26,274,933		)
Net deferred tax asset		$	—		$	—
Deferred Tax Liabilities
Intangible assets		$	(2,274,526	)	$	3,000,576

Net operating loss carryforwards

		December 31,
		2014			2013
Combined NOL Carryforwards:
Federal		$	57,521,560		$	47,728,300
California		50,440,965			44,482,850

Reconciliation of income tax credit computed at the federal statutory rate to that recorded in the financial statements

		2014					2013
Rate reconciliation:
Federal tax benefit at statutory rate		$	(6,009,398	)	(35.0	)%	$	(922,591	)	(35.0	)%
State tax, net of Federal benefit		(986,051		)	(5.7	)%	(761,237		)	28.9	%
Change in valuation allowance		2,866,582			10.9	%	7,044,754			(267.3	)%
Derivative accounting and other		1,311,983			13.4	%	(5,360,926		)	273.4	%
Total provision		$	(2,816,884	)	(16.4	)%	$	—		0.0	%

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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

-Paragraph 2

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- Definition

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 pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

+ 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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