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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Net Deferred Taxes

The components of net deferred taxes are as follows:

		As of December 31,
		2013				2012
Deferred tax assets (liabilities):
Net operating loss		$	4,212,000				1,029,000
Stock-based compensation			2,103,000				1,177,000
Accrued interest expense			150,000				155,000
Allowance for doubtful accounts			47,000				22,000
Deferred lease liability			70,000				50,000
Total deferred tax assets			6,582,000				2,433,000
Less: valuation allowance			(6,582,000	)			(2,433,000	)
Net deferred taxes		$	—			$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the income tax expense (benefit) calculated by applying statutory rates to net loss and the income tax benefit reported in the accompanying consolidated financial statements is as follows:

		Years Ended December 31,
		2013				2012
U.S. federal statutory rate applied to pretax income		$	(6,051,780	)		$	(11,713,000	)
Permanent differences			2,739,048				10,344,000
State taxes and other			1,597,415				(123,000	)
Change in valuation allowance			1,715,317				2,433,000
		$	—			$	941,000

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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

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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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

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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